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EXPLAINED: 6 - The Real Truth

The Weekly Wrap for Saturday, 20 August 2022

Amazon is about to release its billion-dollar mouthful The Lord of the Rings: The Rings of Power. It turns out that the fight for the rights to J.R.R. Tolkein's magnum opus has been a twisting journey of its own fantastical proportions.

inkl Originals

Marc Andreessen's High-Tech Fix for the Housing Crisis Lets Him Keep Being a NIMBY

The venture capitalist's $350 million investment in WeWork founder Adam Neumann's new venture Flow is supposed to help renters build community and equity. They'd be better off if we just built housing instead.

Reason

Tech's cult of the founder bounces back

Adam Neumann's mega-investment comeback shows Silicon Valley still views founders as saviors.

Axios

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WeWork founder bounces back with $1bn property project Flow

Adam Neumann has backing from venture capital and says he’s learned ‘plenty’ since his spectacular ouster

The Guardian - UK

WeWork founder's new venture eyes prime residential real estate

Atlanta, Nashville and Miami have already been upended by corporate landlords.

Axios

The Missing Cryptoqueen Details the Rise and Fall of Ruja Ignatova's OneCoin Con

Jamie Bartlett's gripping look at the schematics and psychology of a scam

Reason

Emmys 2022: Limited series race again offers too many choices, not enough slots

Here we are, six months into the year and the front-runners in the limited series categories remain the same shows we watched and loved from 2021 — HBO's sharp satire of entitlement, "The White Lotus" (which premiered nearly a year ago) and two series from October, Netflix's intimate drama "Maid"…

Los Angeles Times

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Delta Air Lines puts time limit on guests visiting its lounge: ‘We are not a WeWork’

Delta Air Lines rolled out the new policy at the beginning of June

The Independent UK

Short-term profits and long-term consequences — did Jack Welch break capitalism?

The General Electric CEO wowed investors and mingled with celebrities. But New York Times correspondent David Gelles says Welch's aggressive tactics also caused irreparable harm to American industry.

WEKU

'Chinese WeWork' UCommune Reports Huge Losses, Sees Dark Days Ahead

Key Takeaways: UCommune breaks new net-loss record in 2021 and has burned through 4 billion yuan in the past four years Huge losses indicate the company still has a long way to go in terms of asset-light transition By Wang Chuan

Benzinga

As companies plan post-pandemic office return, co-working makes a comeback in Chicago

With Chicago office vacancy rates at an all-time high and companies tentatively beginning to herd employees back into communal settings, co-working spaces — hard hit during the pandemic — are making a comeback.

Chicago Tribune

WeWork Appoints Andre Fernandez As Finance Chief; Affirms Outlook

WeWork Inc (NYSE:WE) has appointed Andre J. Fernandez as Chief Financial Officer (CFO) effective June 10, 2022. This is the third time the co-working space operator has hired a finance chief since March 2020, the Wall Street Journal reported. Fernandez recently served as the CFO of Atlanta-based enterprise software company NCR Corp (NYSE:NCR). The WSJ report…

Benzinga

The Tech Rout Isn’t Just Cyclical—It’s Well-Earned, and Overdue

The market collapse isn’t just the inevitable result of macroeconomic forces like high interest rates and inflation. It’s also the best opportunity in more than a decade to reckon with the tech industry’s excess.

Businessweek

WeWork Co-founder Raises $70M For Crypto Carbon-Credit Startup

WeWork Inc (NYSE:WE) cofounder Adam Neumann raised $70 million from venture capitalists and others for his co-founded carbon-credit startup Flowcarbon, Bloomberg reports. The startup raised traditional funding from backers like Andreessen Horowitz’s crypto arm, General Catalyst, and Samsung Next. Flowcarbon also raised money by selling its token, called the Goddess Nature Token. Neumann,…

Benzinga

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Evening Standard

WeWork loses $500 million in three months despite sales rise

Co-working pioneer has introduced a more ‘disciplined’ business model

Evening Standard

WeWork-backer SoftBank posts record $20 billion loss as tech stocks plunge

The world’s biggest technology investor has lost a record $20.5 billion (£16.8 billion) as its bets turn sour.

Tribune News Service

'Girlboss' scammer shows are everywhere. Which ones should you watch?

For the last few years, scammers and corporate con men and women (but especially women) who tricked America's elites have captured headlines. But in the last few months, the most prominent ones got the Hollywood treatment from major streaming sites: swindler-socialite Anna Sorokin in Netflix's "Inventing Anna," famous fraudster Elizabeth…

StockNews.com

Does WeWork Stock Deserve a Place in Your Portfolio?

The shares of workspace provider WeWork’s (WE) have been on a downtrend since they made their stock market debut last year. The company’s expansionary policies and collaborations to boost its business have so far failed to generate positive momentum in the stock. So, considering the company’s weak fundamentals, would it…

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The Hindu

India’s co-working spaces are pivoting towards larger corporate houses, and smaller towns

Daily passes, customised cabins, virtual addresses… as the pandemic prompts firms around the country to turn to a hybrid working model, co-working spaces pivot to welcome new clients

Benzinga

Benzinga's Top Ratings Upgrades, Downgrades For April 19, 2022

Upgrades

The Guardian - US

Hustle harder: how TV became obsessed with stories of workism

Shows such as WeCrashed, Super Pumped and The Dropout all retell recent stories of millennial work-life balance going wrong

Benzinga

Here's Why WeWork Shares Are Rising

WeWork Inc (NYSE: WE) shares are trading higher by 10.4% at $7.04 after a Form4 filing from the company's CEO showed a purchase of 30,000 shares at $6.55 per share.

The Independent UK

WeCrashed review: Jared Leto and Anne Hathaway bring special alchemy to unlikely love story

While feeling overlong and over-literal, this new Apple TV+ series knows its audience is likely to have some sympathy for the hoop dream of hustle culture

The Guardian - UK

The week in TV: Top Boy; Holding; WeCrashed; Ukraine: Should We Do More?

Ronan Bennett’s concrete western returns in style; there’s humour and pathos in an adaptation of Graham Norton’s novel; and a corporate downfall saga upends the American dream

The Independent UK

WeCrashed: The rise and fall of the drama-ridden WeWork empire

How did everything go so wrong for Adam Neumann? Laura Hampson reports

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