Episode 7 of "WeCrashed" commences with a captivating exploration of IPOs, weaving a tapestry of their alluring advantages and daunting drawbacks. The stage of the stock market is a double-edged sword; it gleams with the promise of skyrocketing a company's worth, yet simultaneously lays bare every crevice and flaw for public scrutiny.
At the heart of Silicon Valley, amidst the grandeur of Google's headquarters, Adam arrives with a pitch fraught with uncertainty. His presentation, a fragile mirror of his company's struggles, disintegrates before his eyes, symbolizing the fragility of his aspirations. Seeking financial salvation, he attempts to cloak WeWork in the cloak of a tech giant, a disguise that Google's sharp eyes swiftly pierce through. Instead, they steer him towards the treacherous waters of an IPO, a suggestion that echoes through the corridors of uncertainty.
Meanwhile, in Wegrow, Rebekah orchestrates her grandiose vanity project with a smile that barely masks her true intentions. She dreams of grooming the students into entrepreneurial titans, her mantra "from birth to death" ringing hollow yet oddly compelling to her ears. Her vision extends far beyond the classroom, nurturing minds over years, yet WeWork's digital dominance casts a long shadow, dwarfing her fledgling venture's social media presence.
Her demeanor towards the staff oscillates between condescension and disdain, her snobbish reluctance to engage in a podcast interview melting away under the weight of her ambition. As she eventually succumbs, her words spill forth in a passionate, nearly tearful monologue, revealing the depths of her commitment to this endeavor.
Back at WeWork, the flames of financial exhaustion consume an astonishing $58 million per week, fueling a sense of urgency among Adam's advisors. They chorus in unison, urging him to embrace the IPO as a lifeline. Despite his reluctance, rooted in a fear of exposure and loss of control, Jamie's persuasive words liken the move to capturing a mythical unicorn, tempting Adam with the allure of the extraordinary.
Back in the confines of the office, Miguel's discontent was palpable. Adam, sensing the tension, ventured in, his voice brimming with confidence as he claimed to have "heard" Miguel's grievances and promised a revelation that would alter their fate. Amidst the fanfare, the announcement rang out: We Company was set to go public, eliciting smiles broader than the horizon and cheers that echoed through the corridors, igniting a jubilant frenzy among the workforce.
At JP Morgan, Jamie marshaled his team into a flurry of activity, their mission: to unravel the true worth of WeWork, a puzzle fraught with complexities. Goldman Sachs mirrored this endeavor, delving into the intricate financial tapestry of the company, their fingers tracing the fine print, anticipating the revelation of hidden truths.
Yet, beneath the sheen of Adam's grandiloquent speeches and slick presentations, storm clouds gathered. The workers, blissfully unaware of the impending tempest, indulged in grandiose fantasies, their dreams of prosperity soaring. Rebekah, her heart heavy with unresolved tensions, ventured into WeWork's hallowed halls to lend Adam her support, her anger simmering at the injustices they had faced together.
Adam's casual dismissal of her contributions—claiming the company as his sole creation—ignited a fiery rage within Rebekah. She, who had funded his vision, whispered the words that sparked the flame, watched as he appropriated it all for himself. Their confrontation erupted into a cathartic release, the gong of WeWork becoming the unwitting witness to their fury, its resonant clang echoing their shouted grievances.
Emerging from the ashes of their conflict, Rebekah and Adam united in a common purpose: to rewrite the S-1 statement. But before they could embark on this crusade, Adam found solace in a conversation with Mikey, a loyal employee whose decade-long tenure earned him 80,000 shares. Adam, with a promise of riches, urged him to savor an expensive tequila, painting a rosy picture of a 30-million-dollar payday once the company hit the stock market.
However, when Cam and his fellow business titans laid eyes on the revised S-1, their shock was palpable. Cam's scathing assessment likened it to a child's fairytale, a stark warning that their house of cards was on the verge of collapse. Miguel, seething at the paltry six pages dedicated to his name, retreated in silence, his vengeance plotted. He entrusted the damning details to Galloway, whose blog post would tear WeWork apart, piece by piece, exposing its fragile underbelly to the world.
