WeWork has been the subject of a documentary, a television series, books, and many a news story—but it’s still interesting to see the company’s newly-appointed CEO, David Tolley, offer his own narration of how one of the world’s most valuable startups ended up in bankruptcy.
Yesterday Tolley, an 11-year Blackstone veteran, did just that. In a 180-page declaration that was filed into New Jersey Bankruptcy Court yesterday afternoon as part of WeWork’s Chapter 11 proceeding, Tolley laid out a pretty detailed timeline of the company’s history—all the way from its founding story, to its botched IPO, its SPAC merger, and troubles from the COVID pandemic. He even discussed in a footnote some of the side projects WeWork cofounder Adam Neumann had experimented with (remember his fitness center venture—Rise by We?).
