Episode 4 of "Wecrashed" opens with a jarring headline emblazoned across the screen, declaring that WeWork is hemorrhaging $1.2 million per day. Yet, within the bustling confines of WeWork's headquarters, Adam remains unfazed, his charismatic charm in full swing as he poses for photoshoots and graces interviews, adding layers of public relations gloss to the sinking ship.
Meanwhile, at Benchmark Capital in the heart of New York, tensions mount over Adam's reckless spending spree and the dire financial state of WeWork. Bruce valiantly defends his protégé, highlighting Adam's uniqueness among competitors, but the truth, as we all know, wears a more complicated mask.
Despite the looming financial crisis, Adam's ambition remains unchecked, insistent on expanding the company's footprint with new locations. Javi, attempting to temper his boss's enthusiasm with reason, is met with disdain until he finally snaps, baring the harsh realities: deplorable working conditions, paltry wages, and landlords unconvinced by Adam's grandiose vision.
On the verge of an exodus, Adam resorts to a desperate measure, doubling Javi's salary as a means to retain him. He then encourages employees to engage in negotiations, dangling the carrot of better lease terms or increased compensation to lure them in. It's a high-stakes gamble, destined to unravel, and indeed, the financial bleeding accelerates, with losses now spiraling towards $2 million per annum.
WeWork's precarious position necessitates layoffs, prompting Adam to adopt austerity measures, slashing extravagances in an attempt to stem the tide. Simultaneously, he embarks on a quest for fresh investment, his single-minded devotion to WeWork blinding him to the needs of his wife, Rebekah.
Left to fend for herself at a significant event for their children, Rebekah finds solace in conversation with Elishia Kennedy, a successful businesswoman whose achievements resonate deeply. Inspired by Elishia's independence and accomplishments, Rebekah harbors a newfound desire to forge her own identity, eager to shed the shadow of Gwyneth Paltrow and embrace her identity as Rebekah—a name to be reckoned with.
With Rebekah absent, Adam orchestrates a pivotal meeting with Masayoshi Son at the helm of SoftBank. Enlisting the aid of Phil over the phone, he embarks on a mission to unearth every iota of information about the enigmatic figure, armed with the intention to pave the way for success.
Adam's destination: Startup India, a conclave of brilliant business minds where he steals the spotlight. Stepping onto the stage, he passionately articulates why he believes in the magic of WeWork, weaving a tale of his own itinerant past that has molded his vision into a crusade to eradicate loneliness. Leveraging his father's presence as a poignant anecdote, Adam cunningly aims to ingratiate himself with Son's favor.
Post-show, Son approaches, commending Adam's charismatic presentation and pledging to witness WeWork's charm firsthand during his next visit to New York.
Returning to the bustling metropolis, Adam finds himself grounded once again, albeit neglecting the tender bonds with his children—a parallel echoed by Rebekah, who declines to involve her offspring in her work pursuits after securing her needs from Elishia. Amidst this backdrop, Adam unleashes a novel concept: SAAS—Space as a Service, a gambit that threatens to plunge the company deeper into financial quicksand, deviating from his initial mission to secure investment in India.
The financial picture grows increasingly dire, with no room for denial. The countdown to insolvency looms large, leaving Adam with two stark choices, as Bruce solemnly outlines later in the day—either shutter 12 locations forthwith or discontinue all non-critical operations, WeWork Labs included. Richard's voice rings with urgency, emphasizing the gravity of the situation. Yet, Adam, ever the rebel, charts his own course, adhering steadfastly to the rhythm of his unconventional drumbeat.
Four months have elapsed since India's departure, with Masa's presence nowhere in sight, prompting Adam to embark on a series of layoffs, yet the troubles persist like stubborn waves. Miguel, lacking the spine to withstand the storm, watches helplessly as the company, a sinking ship, plummets rapidly towards its demise.
Amidst the turmoil, Adam cunningly persuades Elishia to abandon her stable ground and join the tumultuous ride on the WeWork express train, destined for a collision. He bestows upon her the title of Chief Brand Officer, a move that stirs up discontent in Rebekah's heart. She sees through the veil, convinced that Adam's actions are mere self-aggrandizement, rather than genuine assistance to her.
As their rift deepens, a sudden turn of events unfolds at the workplace. Masa, a shrewd investor, appears out of the blue, prompting Adam to hurriedly usher him through a grand tour. Masa's intelligence is undeniable, and despite initial hesitation, he decides to throw his weight behind "the founder," investing a colossal amount of $4.4 billion in the form of a lifeline.
