Adam Neumann, the co-founder of WeWork, has spoken candidly about the dramatic rise and fall of his once-valued $47 billion empire. In a recent interview, Neumann detailed the factors that led to WeWork's spectacular collapse, his personal journey through immense success and devastating failure, and the profound lessons he has gleaned from the experience.

The Meteoric Rise and Sudden Fall

WeWork experienced unprecedented global growth, expanding rapidly to encompass 13,000 employees. However, this rapid expansion, Neumann admits, outpaced his own ability to manage it. He describes a shift where the focus moved from the company's mission to financial valuations, leading to critical missteps.

"It suddenly became about the money," Neumann stated. "I forgot what we were all about, and when I lost it, everybody lost it." This loss of focus, he believes, contributed to the company being "forced to go public when we weren't ready."

The company's S-1 filing in 2019 revealed significant losses, totaling nearly $3 billion over three years. It also brought to light Neumann's trademarking of the word "we" and selling it back to the company, a claim he disputes.

Personal Trauma and Resilience

Neumann's early life was marked by instability, including his mother's struggle with bipolar disorder and his parents' divorce. He recounts vivid childhood memories of his mother's mood swings and a traumatic incident at age 12 where he intervened to prevent her from harming herself with a knife. He also disclosed a past experience of sexual molestation between the ages of second and fourth grade.

These early challenges, he explained, instilled in him a deep-seated drive to overcome adversity. He credits a spiritual practice, introduced by his then-girlfriend and now wife, Rebecca, with helping him reframe his experiences. This practice taught him the distinction between "meant to be" and "free choice," emphasizing that while events may be predetermined, one's reaction and the lessons learned are a matter of choice. This perspective, he believes, provided him with the fortitude to face the collapse of WeWork.

"When the world did crash on me as an adult, it was nothing compared to what I had to deal with as a child," Neumann reflected. "I was like, 'It's okay. I have a wife. I have kids. I have close friends. We'll take a deep breath and we'll start from scratch again.'"

Redefining Success and the Power of "We"

Neumann's definition of success has evolved significantly. He contrasts his 21-year-old self's ambition to be a billionaire with his current understanding that true fulfillment comes not from material wealth but from love and connection.

"My definition of success these days," he explained, "is when you're at your deathbed and you're one minute before it's all going to go... all you have left is the love that surrounds you at that moment."

The concept of "we" was central to the original vision of WeWork, which Neumann described as a mission to "create a world where people make a life and not just a living." He believes that the company's initial success was driven by this mission and the strong sense of community it fostered.

The SoftBank Investment and the IPO Fiasco

A pivotal moment in WeWork's trajectory was the 2016 meeting with SoftBank's Masayoshi Son. Son offered a $4.2 billion investment, a figure significantly higher than Neumann's initial fundraising target of$300-400 million. Neumann acknowledges that this massive influx of capital, while seemingly a validation, contributed to the ego-driven decisions that followed.

"Every step that I'm taking, the ego comes up," Neumann recalled. "By the time I walk into HQ... I forgot what we were all about." He believes this shift in focus from mission to money blinded him and the company, leading to critical mistakes.

The subsequent IPO attempt in 2019 was fraught with challenges. The S-1 filing revealed substantial losses, and investor scrutiny intensified. Neumann resigned as CEO in September 2019, a decision he states was his choice, not a firing, despite reports to the contrary. He recounts a complex situation involving personal debt and a bank's demand for repayment, which ultimately led to SoftBank's intervention and his relinquishing control of the company.

Lessons from Failure

Neumann emphasizes that failure is not an endpoint but a crucial part of growth. He highlights several key lessons learned:

• Choose partners wisely: Select life, friends, and business partners based on how they will support you during your worst days, not just your best.
• Resilience is key: Life is not about avoiding falls, but about how you get up after you fall.
• Self-awareness and growth: Understand yourself, your strengths, and weaknesses to live your truth and fulfill your destiny.
• Influence over control: True power in leadership comes from earned influence, not from authority.
• Focus on the mission: Stay true to your core purpose and vision, especially when faced with lucrative but distracting opportunities.

Neumann is currently involved with Flow, a new venture, and continues to advocate for personal growth and authentic leadership. He believes that by understanding oneself and surrounding oneself with the right people, individuals can navigate challenges and build meaningful lives and businesses.