While Adam tries to heal their relationship, Rebekah is upset with WeGrow’s growth; they declare their objective, and the world reacts.
In episode 7 of ‘WeCrashed,’ Adam and Rebekah Neumann’s vanity is revived as WeWork begins the process of going public. The pair at the centre of it all decides to write the company’s inaugural paper, which is a major undertaking for the rest of the investors.
However, co-writing the document and neatly filling it with their half-baked views provides a chance for Adam and Rebekah to mend their deteriorating relationship. We have a feeling that the ominous “crash” is approaching, so let’s double-check that we’ve gotten all of the information so far. Here’s a deeper look at Apple TV+’s episode 7 of ‘WeCrashed.’
Must Read: WeCrashed Episode 6 Recap and Ending Explained
Recap of WeCrashed Episode 7 ‘The Power of We’
The episode begins with a short, funny explanation of how initial public offerings (IPOs) function from a Wall Street commentator (named Scott “Prof G” Galloway), followed by Adam Neumann being denied by Google when he approaches them for finance. Everywhere the co-founder of WeWork travels, he is pushed to take his firm public.
Finally, after his bank expresses reluctance to increase his line of credit but suggests that an IPO would demonstrate his company’s unicorn status, Adam relents and announces that WeWork would go public. He, on the other hand, is adamant about putting together the company’s S-1 paperwork, which is supposed to be a highly technical summary that exposes potential investors to WeWork.
The impending IPO has sent WeWork staff into a frenzy. They expect their stocks to be worth millions in the near future, and some of them even sneak into Adam and Rebekah’s opulent apartment to celebrate. Meanwhile, Adam tries to enlist Rebekah’s assistance in creating the S-1 paperwork, but she’s still resentful after being told (in episode 6) that she’s accomplished nothing.
Finally, Adam acknowledges Rebekah as a co-founder of WeWork, which attracts her, and the two begin “working.” The two create an S-1 document that stuns investors by brainstorming ideas for raising global consciousness and come up with their own versions of financial measurements. Meanwhile, Miguel is going through the document and notices that Rebekah has been severely overshadowed by Miguel in the all-important write-up on the company.
WeCrashed Episode 7 Ending: Does WeWork’s S-1 Document Become Official?
The board meeting to discuss the S-1 paper is a tense occasion. Cameron Lautner, who has been a loud opponent of Adam’s methods, is outraged by the co-founders’ interpretation of the official paper. When Adam brings up the topic at the meeting, however, he dismisses his concerns by confidently pushing him aside. Bruce, unfortunately for Cameron, remains mute and does not object to the document, therefore siding with Adam and Rebekah.
The final scene of Episode 7 shows the same Wall Street pundit from the beginning receiving a copy of the S-1 document. He reads it and immediately writes a blog post about it, which is picked up by a Wall Street Journal reporter. So, it looks that the S-1 paperwork that Adam and Rebekah prepared during their fantasy-fueled afternoon at the workplace is now making the rounds and is available to the public.
Cameron looks to be correct about how the industry will react based on the bemused reactions of the two persons who have seen it so far (the Wall Street analyst and the journalist).
Given that Scott Galloway wrote a blog post on his reaction to the document, it’s safe to assume that the WeWork S-1 document created by Adam and Rebekah has been made public and is therefore official! In addition to the blog post, which clearly mocks the document, it appears to have piqued the interest of Wall Street Journal writers. As a result, the release of the S-1 document could lead to the devastating news piece mentioned in the first episode of ‘WeCrashed.’
What is the IPO valuation of WeWork in Episode 7?
The episode opens with Adam as a Silicon Valley outcast, unsuccessfully seeking investors to keep his company from going public. When he eventually decides to go public, though, the WeWork co-founder and CEO is once again the talk of the town, with wild rumours about the company’s price. (Keep in mind that SoftBank has already raised WeWork’s worth to $47 billion as a result of earlier investments.)
Adam closes the worth of his company at an eye-watering $63 billion after the final round of discussions with JPMorgan Chase’s CEO. He also adds the traditional 18 cents — a nod to WeWork’s initial investor, who added 18 cents to his offer as a sign of good fortune. Of course, the fact that the early investor is a liar and doesn’t pay up also indicates at Adam’s own self-serving and questionable spending practises, which are now likely to be revealed to the public.
Wecrashed Episode 7 is available to stream on AppleTV+.
— WestOfHell🃏🧛🏻♂️💀🐯🎶🎸 (@MarsMadMichelle) April 15, 2022