Behind the scenes

Yoke

October 1, 2024

1. What can we learn from the crash of WeWork-episode 1 and 2?

2. Women in leadership in Dubai

3. Some business and travel highlights

4. What can you book me for?

1. What can we learn from the crash of WeWork?

In today’s podcast episode, we delved into the culture, business model and questionable ethics of WeWork’s founder and CEO, Adam Neumann.

He behaved like he was a pop star, and he had earned the money, you know, being on tours, selling records, selling songs, but he didn't, but he lived the life. Like a sort of  pop star cult, like driven personality.  It sounds like the male version of Elizabeth Holmes in terms of where she was wearing all the Prada Dresses, being flown on a private jet, going to these events, and living in this mansion. And yet the business was not really making money.

In this episode, Thomas Ramstad and I explore the rapid rise and sudden fall of WeWork, a company once valued at $47 billion. We discuss the appeal of WeWork’s business model, CEO Adam Neumann’s charismatic vision, and the core values and culture promoted within the company.

Introduction to the Rise and Fall of WeWork 00:41 The Appeal of WeWork’s Business Model 02:00 WeWork’s Culture and Core Values 03:07 Expansion to WeLive and WeGrow 05:34 Criticism of Adam Neumann’s Leadership 06:43 The Frat Culture and Its Impact 09:47 Smoke and Mirrors: Deceiving Investors 11:07 Adam Neumann’s Disconnect and Overspending 13:32 Conclusion and Next Episode Preview

1.2 Episode 2 of the Rise and Fall of WeWork.

In this episode of ‘Leadership Lyrics’ with Thomas Ramstad and I(Yoke van Dam), we delve into the rise and fall of WeWork under Adam Neumann’s leadership. Initially a property rental service for startups, WeWork was rebranded as a tech company, although its primary function remained to rent office space. Despite ambitious plans, the tech platform failed to gain traction. The episode highlights WeWork’s financial mismanagement, corporate governance failures, Neumann’s controversial leadership, and conflicts of interest, leading to a failed IPO and plummeting valuation. The discussion draws lessons on ethical leadership, transparency, and sustainable business practices, emphasizing the importance of psychological safety in workplaces.

2. Women in leadership in Dubai

Our 3-day Women in Leadership was entertaining and interactive. The ladies specifically said they want to go back to their business, encouraging:

Opportunities for team building like fun runs or sports-orientated activities versus always sitting and eating.
Learning and development
Frequent feedback conversations with their teams.
Enhancing Life balance and making time for exercise, even during lunch hours.
Volunteering for speaking gigs and arranging training sessions with their teams.
Rehearsing presentations versus “winging ” them.

Things they enjoyed:

Gamification -playing games and the debriefs
Speaking in a psychologically safe environment.
Ideating and group coaching
The practical elements of coaching, building rapport and negotiations.
Thinking on their feet, presenting and getting feedback.
Learning how to self-regulate and get out of fight-and-flight mode.

3. Business case studies and travel highlights

When travelling to Dubai, I decided to add a bit of fun to my itinerary and went to the Burj Khalifa and to the Dubai Frame. Incredible views and history and seeing the setting where Tom Cruise ran outside of the Burj Khalifa in Mission Impossible was very exciting.

I visited levels 125 and 126 of the Burj Khalifa during Sunset and waited for the evening lights to come out. What a treat!