WeWork’s IPO filing roasted for its cultish cover page – Business Insider


Adam Neumann, CEO of WeWorkAdam Neumann, CEO of WeWork.REUTERS/Eduardo Munoz

  • WeWork filed to go public on Wednesday.
  • The opening to its paperwork featured a distinctly cultish dedication to the “energy of we.”
  • WeWork also said its mission is to “elevate the world’s consciousness,” and critics on Twitter were quick to mock the rhetoric.
  • Read all of BI’s WeWork coverage here.

WeWork published the S-1 paperwork for its initial public offering on Wednesday, and the business’ gargantuan losses of $1.6 billion weren’t the only thing to catch people’s attention.

Read more: The life and career rise of Adam Neumann, the billionaire WeWork founder and CEO taking his company public

Two pages into WeWork’s S-1 is a spread bearing the firm’s minimalistic logo along, with a strange dedication: “We dedicate this to the energy of we — greater than any of us, but inside each of us.”

Wework coverWeWork’s cover page.WeWork/SEC

Journalists and others were quick to snort at the mantra.

i realize when reading an s-1 you’re supposed to skip ahead to the juicy parts but i’m already stuck on wework’s second page, in which the epigraph dedicates this to “the energy of we” that is “inside each of us” pic.twitter.com/lhOoz8cqlX

— Ellen Huet (@ellenhuet)
August 14, 2019

In addition to the mantra, some critics went in on the language inside the S-1, including WeWork’s stated goal to “elevate the world’s consciousness,” and its frequent use of the word “community,” which pops up a total of 150 times in the 220-page document.

What is WeWork’s mission?

“Our mission is to elevate the world’s consciousness.”

Like, duh.

— Sachin Ravikumar (@sachinr27)
August 14, 2019

What could go wrong at WeWork with a mission statement like this?

“We are a community company committed to maximum global impact. Our mission is to elevate the world’s consciousness.”

— Rob Cox (@rob1cox)
August 14, 2019

Three sentences into WeWork’s “our story” section of its IPO filings and I have no idea what it does: “Our mission is to elevate the world’s consciousness”

— Rani Molla (@ranimolla)
August 14, 2019

Number of times WeWork S-1 uses word “community”: 150

— zerohedge (@zerohedge)
August 14, 2019

Cultish, grandiose, and vaguely ridiculous language from tech companies is nothing new, but “the energy of we” has definitely struck a chord as even more preposterous than usual.

Read more of Business Insider’s WeWork coverage:

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