WeWork was one of the most highly anticipated IPOs in 2019. It received funding from the biggest investment banks and investment funds including most notably, Softbank. Linked to celebrities like Ashton Kutcher, Hugh Jackman, and Mark Zuckerberg, the charismatic CEO Adam Neumann was on a trajectory to creating a movement for coworking space rentals across the globe. What would follow would be the crumbling of the WeWork brand, the failure of its IPO, the disgraceful exodus of WeWork employees and the ousting of its leader
Episode Sources
Is Venture Capital Worth The Risk?
The Wildly Appealing, Totally Doomed Future of Work
WeWork Throws a Party As it Burns Through Cash
WeWork Is the Most Ridiculous IPO of 2019
WeWork Comes To Terms With What It Actually Is
WeWork files for IPO after losing $1.9 billion last year
WeWork’s IPO: The Triumph Of Hype Over Fundamentals
WeWork IPO Shows It’s the Most Magical Unicorn
WeWork is hitting the brakes after its IPO went up in smoke — and landlords could pay the price
The WeWork fiasco of 2019, explained in 30 seconds
Here’s how reporters Meghan Morris and Julie Bort exposed the wild, nonstop WeWork party
The fall of WeWork’s Adam Neumann
WeWork Was a Family Affair, Until Things Got Complicated
Guest Bio
David Trainer, Founder and CEO
David Trainer is a Wall Street veteran and corporate finance expert. He specializes in reversing accounting distortions on the underlying economics of business performance and stock valuation. He was a member of FASB’s Investor Advisory Committee from 2013-2017 and is author of Modern Tools for Valuation (Wiley Finance 2010).
David combined his expertise and an analytical focus to found New Constructs, which assesses the core impact on stocks from accounting rule changes and corporate actions to create the best fundamental research in the business – as proven by Ernst & Young’s white paper “Getting ROIC Right” and Harvard Business School’s case study “New Constructs: Disrupting Fundamental Analysis with Robo-Analysts”.
Mr. Trainer makes frequent appearances in TV and print to share his insights on market trends, macro-economic news, and individual stock insights, as well as cutting–edge research on ETFs and mutual funds.
His stock-picking success has been well-documented since 2005, including features on CNBC, in Institutional Investor Magazine, in Barron’s.
Prior to founding New Constructs in 2002, Mr. Trainer spent over 6 years as a stock analyst on Wall Street. In 1996, he joined Credit Suisse First Boston where he created an economic (as opposed to accounting)-based earnings model and brand for CSFB equity research. Prior to his career in Wall Street, Mr. Trainer was an executive compensation consultant with Arthur Andersen. In 1994, Mr. Trainer earned his B.S. in International Business from Trinity University in San Antonio, TX.
Meghan Morris, Senior Reporter for Business Insider focused on tech deals and WeWork.
Previously, she wrote about private equity real estate for three years at the industry’s trade magazine, PERE and has since been the lead reporter for WeWork at Business Insider.
Meghan frequently appears on television and moderate panels and keynotes at industry events, with recent appearances including CNBC’s Squawk Box; In|Vest 2019; the Digital Wealth Conference; and myriad Private Equity International events in the US and Middle East. Please contact me for speaking and media engagements.
Meghan holds a bachelor’s and master’s degrees from Northwestern University in journalism.