Adam Neumann
Person
Adam Neumann is an Israeli-American billionaire businessman and investor. He co-founded WeWork with Miguel McKelvey in 2010 and served as its CEO until 2019. He later co-founded the family office 166 2nd Financial Services with his wife, Rebekah Neumann.
What Adam Neumann has said on podcasts
92 statements
WeWork experienced exceptionally rapid global physical expansion.
“WeWork was one of the fastest physical global growths the world's ever seen”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 0:03
WeWork was forced toward an IPO before it was prepared.
“we found ourselves being forced to go public when we weren't ready”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 0:52
Neumann says he voluntarily stepped down as WeWork CEO.
“So I stepped down out of choice”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 1:00
Adam Neumann believes he made substantially more correct than incorrect decisions at WeWork.
“I did a lot more things right than wrong. A lot more. Not like 10% more, like 95%.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 1:17
Every person has a fundamentally perfect soul.
“I think each one of us has a phenomenal soul. I think it's perfect.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 3:13
Material possessions do not produce true happiness or fulfillment.
“true happiness and true fulfillment does not come from material things”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 7:39
The worst point of adversity immediately precedes improvement.
“the darkest moment of the night is a second before dawn”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 9:34
Parents, society, and schools should protect children and recognize abuse.
“the responsibility of parents and the responsibility of society to take care of the children, and schools to understand what's happening”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 12:44
People should avoid judging others without knowing their histories.
“I want to encourage every single person, next time you're about to judge, You don't know who that person is.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 13:06
Neumann’s school teaches children self-connection and belonging.
“we teach kids how to be connected to themselves, how to be part of something greater than themselves”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 15:23
People can control their reactions even when they cannot control events.
“I realize that I don't control what happens, but I can control how I react to it.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 15:41
Material wealth or numerical achievement has not produced fulfillment among successful people he knows.
“I have not seen one that got happy or fulfilled from attaining a number or a material thing.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 17:01
Success is measured by love and fulfillment at the end of life.
“my definition of success is, in that last moment, right before you go, how do you feel?”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 18:27
WeWork’s original mission centered on community and life beyond office space.
“It was never about desks and chairs. It was always about creating a world where people make a life and not just a living.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 19:50
Adam Neumann once believed wealth could resolve childhood trauma.
“making money would solve it”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 20:50
Pursuing money will not create happiness even after money is obtained.
“even if you get it, it will never make you happy”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 21:00
A meaningful company mission attracts employees, investors, and consumers.
“Employees will want to work with a company that's doing that. Investors will want to invest in a company that's doing that. And consumers will want to buy from a company that's doing that.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 21:52
GreenDesk reached 92% occupancy within a week and became cash-flow positive.
“It was 92% full within a week, started cash flowing positive”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 24:54
WeWork’s broader concept preceded its first desk or office.
“The idea started, this was before there was one desk.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 26:39
Entrepreneurs should begin with an ambitious vision and then execute incrementally.
“start with a vision, dream as high as you can”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 27:09
Belief is the first step in turning an idea into reality.
“First, you have to believe.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 28:09
Belief is demonstrated most clearly during severe adversity.
“Belief is measured when it's all crashing”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 30:57
Neumann believed WeWork’s crisis would ultimately resolve favorably.
“I believe, and I know it's gonna work out, and I don't know how, and I don't know why, but this is all gonna work out for the best.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 32:46
Very large ventures inevitably experience a crash.
“If you go big enough, really, really big, you crash.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 33:40
Failure is expected; recovery determines the outcome.
“Life is not about if we fall down. We're supposed to fall down. Life is about how we get up.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 33:59
Mission, speed, and persistence drive exceptional business outcomes.
“When you connect that mission of something being greater than yourself, speed, and not accepting a no, You put those things together, then real magic happens.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 36:57
WeWork reduced the second building’s floor cost to $12,000.
“the cost went down to that first floor, instead of $30,000 to $45,000, was $12,000”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 38:41
Elon Musk’s engineering approach can produce dramatically simpler, cheaper, faster, lighter results.
“the result ends up being not twice as simple as anything NASA has done, but like 500 times as simple and cheaper and faster and lighter.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 39:38
By its ninth year, WeWork opened two buildings daily across 130 cities and 50 countries.
“Year 9 of WeWork, we opened 2 buildings a in 130 cities, 50 countries, 70 languages”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 42:06
AI can accelerate processes and improve work quality.
“today with technology, and this is where I think AI is very exciting, you could shortcut cut a lot of these things and do much better work.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 43:08
A company growing faster than its founder will likely crash or leave the founder unfulfilled.
“whenever a company grows faster than its founder, One of two things will occur. Either it will crash”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 44:07
Founders must commit fully rather than partially to their businesses.
“you can't be 50%.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 45:09
Founders must commit fully for a venture to succeed.
“Either you're 100% in and you're all in, or it's not gonna work.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 45:21
Adam Neumann argues work-life balance can prevent exceptional achievement.
“When you're, oh, I can find this work-life balance while doing it, you're not going to do something great.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 46:07
Running two businesses simultaneously is difficult for most founders.
“it's very hard to do 2 businesses at the same time. It's hard enough to do one.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 47:07
Neumann failed to build strong technology at WeWork.
“I obviously did not succeed in building great technology in WeWork.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 50:12
Marc Andreessen and Ben Horowitz invested $470 million in Flow.
“Mark and Ben have invested $470 million into Flow.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 51:08
Neumann and his family personally invested $350 million in Flow.
“I, Adam, and my family personally invested $350 million”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 51:13
Founders should evaluate investors by their historical treatment of entrepreneurs.
“when you choose your investors, look at their history”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 52:58
Founders should evaluate investors based on their historical treatment of entrepreneurs.
“when you choose your investors, look at their history.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 52:58
Choosing suitable investors, employees, and partners is most important.
“right investors, right employees, right partners, most important thing.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 53:29
Highly talented employees reject authoritarian management.
“Great talent is not willing to be managed like that.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 54:18
Influence is more effective than control for managing talented employees.
“power comes from influence, not control.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 55:06
Leadership power comes from earned influence rather than formal control.
“power comes from influence, not control”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 55:06
WeWork doubled its revenue annually during its rapid-growth period.
“WeWork doubled in revenue every single year.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 57:31
WeWork’s peak investment payback period was six to nine months.
“WeWork at its peak was returning its money somewhere between 6 months to 9 months”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 58:12
Stopping expansion can make a functioning high-growth business profitable.
“All you have to do in a high-growth business that's working to turn it profitable is stop growing.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 59:34
Founders should reassess mission and readiness before accepting unexpectedly large funding.
“before you say yes, take a deep breath and ask yourself again that question of why, and what is my intention?”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 1:05:50
WeWork reported $980 million revenue and then achieved approximately $1.8 billion.
“we were doing $980 million that year. We hit our numbers. We forecasted we're going to do $1.8 billion next year. We did our $1.8 billion.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 1:06:43
WeWork reached $1.8 billion in revenue and its model was working well.
“We did our $1.8 billion. It was working so well, the model.”
Open the episode · Adam Neumann: The Real Story Behind WeWork, A $4 Billion Cab Ride, And Surviving A $460 Million DebtListen at 1:06:49
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
