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Startups

WeWork’s Culture Problems

Ahead of an IPO, WeWork CEO Adam Neumann continues to get more mainstream media coverage for his unusual antics. This week, New York Magazine has a long feature on the company’s growth, business and culture. While we don’t learn much new about WeWork’s business prospects, the piece’s strength is its reporting on the company culture, which has long been known as cultish, featuring such quirks as celebrity drop-ins at company events and an alcohol-fueled “summer camp.”

But burnout is becoming frequent, as well as employees tiring of moves like banning them from expensing meals that include meat. Of more concern, the story notes that Neumann has waved off concerns internally about executive diversity and “gave a joking toast to the virtues of nepotism.” These are worrying signs for a soon-to-be public company CEO. 

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