, Columnist
WeWork IPO Shows It’s the Most Magical Unicorn
Everything about the company is over-the-top: its growth, losses, potential conflicts of interest and financial gymnastics.
The company is a leap of faith, to put it mildly.
Photographer: David 'Dee' Delgado/BloombergThis article is for subscribers only.
I get paid to write words for a living, and I am nearly at a loss for words about WeWork Cos.
The company on Wednesday released the financial paperwork for its planned initial public offering of stock. The company is in many respects what people thought it was, although I don’t think we knew the half of it. WeWork is an office subleasing company on steroids, with a complicated corporate structure topped by a single person, Chief Executive Officer Adam Neumann, who has unusual measures of control or influence over the company.