Want to build a business while working alongside other creative people in shared office space, with established phone lines, internet, and office furniture? Do you like happy hours, high-end coffee machines and even rooftop pools?
In 2009, about 10,000 people worked in shared office space.
By 2014, the number exploded to 260,000.
$3.1 billion from Softbank, and WeWork was off and running.
But, founder and CEO Adam Neumann–on sharing company information for an IPO–was found to have done some shady deals to enrich himself, including borrowing money against the company, buying property, then leasing it back to the company.
Neumann was ousted for a jaw-dropping $1.7 billion. And, in an effort to streamline its business and stop the bleed of capital, about 1/4 of Weworkers were fired. In response, they wrote a letter…
How about all that community and taking-care-of-others you talked about, thousands of WeWorkers wanted to know. Was it all a sham? Geek out on their letter here.
And, consider this: union membership is mostly on the decline, yet letter-writing and collective voices are being used to affect change in huge technology companies, like Microsoft and Google. Is it time for tech to unionize?