Since joining WeWork last November, Julie Rice has spent a lot of time behind the front desk. Adam encouraged senior WeWork executives to participate in weekly study sessions with his spiritual adviser at the time, Rabbi Eitan Yardeni. Julie is currently the Co-Founder of LifeShop, a company developing original . Julie Rice Leaves WeWork - SoulCycle cofounder Julie Rice had a short ride at WeWork. The magazine stopped. But in 2018, WeWork had lost $2 billion and had a highly questionable business modelthe company signed long-term leases and sublet space to freelancers and corporations on a short-term basis. Uber shares debuted down nearly 10 percent. Its hard to overstate their fury at Neumann, whos walking away a billionaire. [5] She resigned from WeWork in 2019. The company just announced that it's raising $430m at a whopping $16B valuation, bringing total funding to $1.43B. In the weeks after losing control of his company, he became paranoid that he was being followed. Uber was a big part of it. Not long after Neumann started WeWork in 2010, the then-31-year-old Israeli entrepreneur showed up at a real estate industry conference on Park Avenue wearing his now-familiar uniform, T-shirt and jeans, with shoulder-length surfer hair that looked like it hadnt been washed in days. It was like we were at war together, a former staffer said. 12k Followers, 253 Following, 256 Posts - See Instagram photos and videos from Julie Rice (@julierice_) julierice_ Verified. Suddenly, the pasha lifestyle that made Neumann an avatar of the new economy seemed like something elsemillennial entitlement gone insane. Masa would invest $10 billion in WeWork. After Masa invested, I would sit in meetings and wed talk about growing by 100 million square feet in 2019, recalled another. Bruce said, Youre selling an energy that Ive never felt., JPMorgan CEO Jamie Dimon was also an evangelist. Pumped up by SoftBanks billions, Neumanns messianism became more like megalomania. Rupert Murdoch Colluded With Jared Kushner to Try to Throw the 2020 Election to Trump Because Of Course He Did, Inside the Dissident Fringe, Where the New Right Meets the Far Left, and Everyones Bracing for Apocalypse, Gwyneth Paltrow Still Has a Dress From When She Dated Brad Pitt. Recently, the New York Times reported a group of WeWork employees circulated an open letter calling Neumanns payout graft. This company was designed and managed to make a handful of people ungodly wealthy at the expense of everyone, a former executive told me. WeWork plans to open 60 new locations in 2021. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. But Neumann, characteristically, assured colleagues that the article was not much more than a speed bump. Senior executives bristled at Rebekahs nebulous, free-ranging role and her thin rsum. Be a good partner. Neumann used mass gatherings to spread his gospel. Episode 4 finds Elishia Kennedy, a successful founder in her own right, being pulled into the orbit of WeWork. In the spring of 2016, Neumann met Masayoshi Son at a dinner. larger-than-life entrepreneur Adam Neumann, real-life individuals characterized on the show. WeWork was rescued by Japanese technology investment fund SoftBank headed by Masayoshi. When Adam got in front of world leaders, it was like he started thinking he was one, a former executive said. Now theyre planning to hire veterans and refugees. The narrative of the unicorn was ending. Elizabeth Holmes Has Given Birth to Her Second Child. Like Bozoma Saint John of Uber, Rice has her work cut out for her. Neumann sat down with world leaders, discussing the Syrian refugee crisis with Canadian prime minister Justin Trudeau and urban planning with London mayor Sadiq Khan. There are 16 executives at WW International Inc getting paid more, with Mindy Grossman having the highest compensation of $7,295,420. Julie's mailing address filed with the SEC is 675 6th Ave 6TH FLOOR, New York, NY 10011, USA. According to Julie Rice, WeWork's. Its a time where womens voices are taken more and more seriously. The concept did well. The company voraciously leased office space with seemingly little strategy, except to keep adding locations. [2], Rice worked as a talent manager for exotic dancers in Los Angeles for twenty years. Elizabeth and I had questions early on in the business, and we googled career coach NYC and found her. In 2020, WeWork had laid off a total of 2650 employees . This was no slip-up, Ferrera not long ago explained to Vanity Good about how she used Rice to portray her personal fictitious character. "If he owns 1 percent of the company, that's still worth $200 million," Schreiber's former partner said . julie.ri***@verizon.net view more. When SoftBank bailed out WeWork on October 22 for $9.5 billion, Neumann walked away with a package that included $1 billion in stock, $500 million in credit to pay back loans, and a $185 million consulting fee. After SoftBank bought WeWork in 2019, McKelvey remained on staff for an extra nine months to be part of the transition. Lucky Wife of Spencer When the financial crisis hit in 2008, Neumann had burned through an investment from his grandmother of nearly $100,000 and scrambled to hire a lawyer to renew his visa to stay in the country. Theyd believed deeply in Neumann, worked insane hours, and bought in fully to the WeWork dream. The global office-sharing startup is one of the most highly valued privately held companies (valued at US . Bruce walked in and he said, Youre not selling coworking, youre selling an energy Ive never felt, recalled a former WeWork executive who attended the meeting. The company tried selling software to companies that mapped how employees used office space (part of what they called Powered by We). (Neumann declined the deal but accepted a $2 million investment from Zuckerman.) Listen to article. They scattered employees throughout WeWorks around the city, a former executive recalled. He sat there saying, What companies can we buy? Julie Rice and Elizabeth Cutler say they want to pursue new projects; . Rebekah had very specific ideas of what the ideal environment would be. Its valuation somehow kept rising. 2023 Vox Media, LLC. Employees sensed a bubble. Adam said WeWork existed to elevate the worlds consciousness. The company would allow people to make a life and not just a living. It was even capable of solving the worlds thorniest problems. Since June 2016, she has also served as the Co-Founder of LifeShop LLC, an advising and investing company. On the afternoon of September 18, 2019, WeWork cofounder Adam Neumann was in his office at WeWorks Chelsea headquarters when he got a text alert on his iPhone. November 20, 2018, 4:31pm Julie Rice at the WWD Apparel and Retail CEO Summit Patrick MacLeod/WWD SoulCycle founder and WeWork partner Julie Rice spoke Tuesday at a Women's Leadership. Valerie Chiang. Theres nobody that understands this brand more than the people working on the front lines. Maybe we should buy Slack? a former executive recalled. Password must be at least 8 characters and contain: As part of your account, youll receive occasional updates and offers from New York, which you can opt out of anytime. He has a wife who wants to leverage this to be her own major character, said a source whos interacted with Rebekah. The Cuts Lindsay Peoples moderates a conversation at the New Museum about art and storytelling and how tech can help and hinder both. The lawsuit cited an earlier incident from Summer Camp in 2017, in which a drunk coworker allegedly groped her from behind. Neumanns problem was that he needed to think bigger. It's what makes her one of the most important entrepreneurs of the past decade, and the perfect person to take on a partner position in the global co-working space, WeWork. [1] She is married to Spencer Rice. They saw Neumann as a millennial prophet who did shots of Don Julio during meetings while preaching about the dawn of a new corporate culture, one in which the beer and kombucha flowed and MacBook-toting employees would love coming to work. On Monday, Rice confirmed that she's joined the New York City co-working giant WeWork. After co-founding SoulCycle Inc., a fitness company, in 2006, Ms. Rice served as Co-Chief Executive Officer from 2006 to 2015, Chief Talent and Creative Officer from 2015 to 2016 and a member of the board of directors from 2010 to 2018. And sometimes it wouldnt happen, or itd happen hours late and youd be there all night. Community teams are about more than just building operationstheyre here to help members shine, To celebrate National Intern Day, we asked four WeWork interns turned employees to share their experience, Three AAPI WeWork employees reflect on family, tradition, and community. It wasnt strictly Neumanns fault that investors no longer had the appetite for money-burning start-ups like Uber and Slack. And of course lets not forget our favorite point, that Im a woman, she laughs. In reality, Julie Rice co-founded the popular fitness company SoulCycle with Elizabeth Cutler and Ruth Zukerman in 2006. GLOBAL OPEN PLAN As the Independent Director of WW International Inc, the total compensation of Julie Rice at WW International Inc is $155,711. Children could even be paired with a professional mentor. WeWork cut its spending to $482 million in 2020. Adam Neumann, whose net worth plunged, reportedly hasn't seen the Hulu documentary that details his spectacular scandal-ridden tenure as CEO of WeWork. Though her tale is not a cookie-cutter for Elishia Kennedy, the similarities are apparent. Adam would have meetings on Sunday, and you could never miss those. She took on the role of chief brand and impact officer, pushing aside Julie Rice, an executive who was hired in 2017 with the title of chief brand officer. He gave his wife a large role in choosing his successor. The WeWork aesthetic evoked a cross between a Silicon Valley start-up and a boutique hotel lobby. It was a lot about finding your inner peace and purpose, an executive who attended the meetings recalled. Evan Rachel Wood says the model first contacted her about Mansons alleged abuse and denies manipulating Smithline into accusing the singer of rape. The numbers they threw out at all-hands meetings was that this is going to be a multibillion-dollar company, a former employee said. Clockwise from top left, by Jonathan Leijonhufvud, David Dee Delgado, Floto+Warner, Luke Macgregor, all from Bloomberg/Getty Images. After sitting with Neumann in his office, outfitted with a Peloton bike, infrared sauna, and cold water plunge, Steve Jobs biographer Walter Isaacson told Fast Company that Neumann reminded him of the Apple cofounder. Im responsible for all of the messaging, the mission, the values, and, most importantly staying true to the DNA and mission of what we initially set out to do at WeWork, she told Coveteur. He bought them to prove the WeWork concept to skeptical landlords during the companys early days. This week's conversation is with Julie Rice, an entrepreneur best known for co-founding the fitness phenomenon, SoulCycle. Ten of the brands at WeMRKT are sourced from WeWork's members, including juice from Misfit Juicery, phone chargers from Puku, and food from Splendid Spoon. (Apple didnt respond to a request for comment.) There are days when you think your ideas are brilliant, and days when you think youre crazy. Julie Rice Arrest Records from Partner . They employed a squadron of nannies for their five children, two personal assistants, and a chef. In a way, the spending made sense, because Neumann himself was the product. November 21, 2017 SoulCycle co-founder Julie Rice just fired up that motivational dance mix, and she's spinnin' on over to WeWork as their chief brand officer. For Neumann, millennial work began with interior design. It was somewhat incestuous. It was a delusional idea at the time. As reported in the Wall Street Journal, he and his wife, Rebekah Paltrow NeumannGwyneths first cousinspent $90 million on a collection of six homes that included a 6000-square-foot Gramercy condo, a 60-acre estate in Westchester County, a pair of Hamptons houses and a $21 million mansion in the Bay Area that features a room shaped like a guitar. (WeWork didnt respond to a request for comment.) When youre in a room with Adam, he can almost convince you of anything, a former employee said. [3] SoulCycle's first studio was on the Upper West Side. She hired Danish architect Bjarke Ingels to design an airy space that featured an indoor vertical garden and acoustic clouds hanging from the ceiling. Mariel Molino Is Living Her Childhood Dream. That January, the Neumanns relocated to their mansion in Corte Madera, just across the Golden Gate Bridge from San Francisco. In the fall of 2018, Rebekah opened WeGrow, a for-profit school costing up to $42,000 a year, at WeWorks headquarters. WW International Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. YOU HAVE 20,000 FOLLOWERS: $100 per post at a $5/CPM. In an increasingly digital world, what we are doing is so unique. Now, unless WeWork secured a new source of emergency funding, it would run out of cash before Thanksgiving. Adam Neumann and Masayoshi Son were negotiating a possible $20 billion check when Mr. The advice were giving them changes along the way. Every one of us is here because it has meaning, because we want to do something that actually makes the world a better place. Masa said were gonna be a trillion-dollar company! he shouted, according to a former executive who heard it. A new way of living. Body positivity was my salvation from an anti-fat world. 2023 Cinemaholic Inc. All rights reserved. Jerry spent fifteen years with the San Francisco 49ers. SoulCycle cofounder Julie Rice, whod been recruited to WeWork in 2017 to become the companys chief brand officer, quit in part because Rebekah decided upon returning from maternity leave that she wanted Rices title and took it, sources said. The two left their roles as chief creative officers to pursue other projects. Mort Zuckerman, the billionaire cofounder of developer Boston Properties, told a real estate executive shortly after WeWork launched that Neumann was creating the future of work. In 2010, Jerry Rice was enrolled in the Pro Football Hall of Fame. Minson declined to comment but a former senior executive said Neumann drove the decision making. WeWork spent about $20 million renovating offices in 2020. Neumann envisioned WeWork as a capitalist kibbutz where members would work, eat, and drink together. WeWorks previous CFO Ariel Tiger, who served in the Israeli Navy with Neumann, talked openly about firing people. Sharing her experience, she says that women have the chance to be the leaders weve been asking to be. In another meeting, Neumann said three people were going to save the world: bin Salman, Jared Kushner, and Neumann. [Cutler and I] were first introduced through a friend, and we started working with them to imagine the original concept. The bank extended Neumann nearly $100 million in loans and was among a group of banks that provided Neumann with a $500 million personal credit line. On the show, Rebekah meets Elishia quite by chance but then makes an effort to strengthen their friendship when she finds out that the latter owns a popular juice company. Neumann paraded through the office barefoot with celebrities like Drake and Ashton Kutcher and had an unnerving ability to maintain eye contact during conversation, lending him the aura of a guru. Neumann told colleagues that he was saving the women of Saudi Arabia by working with Crown Prince Mohammed bin Salman to offer women coding classes, according to a source. Having returned from maternity leave, the latter apparently decided that she would be a better fit for the role and took on the title of Chief Brand and Impact Officer. Previously, Ms. Rice was a Talent Manager at Handprint Entertainment from 1997 to 2004. Benchmark cofounder Bruce Dunlevie joined WeWorks board after touring a WeWork with Neumann. . There was no discipline to how Adam approved leases, an executive said. Today shell start at the WeWork headquarters in Chelsea, which is also a shared workspace. To entice new customers, WeWork offered members free rent and bought out their existing leases. Despite some trepidation, Elishia eventually agrees to join WeWork as Chief Brand Officer. (Rebekah didnt want her own nannies entering the school, two sources said.) Ms. Rice served as a Partner at WeWork, a shared workspace company. With this, his fortune reached an impressive $14 billion in 2019 based on a peak valuation of $47 billion. Adams fantasy land became a reality, a former WeWork executive said. (He asked her questions like, Are you a magician, maverick, or a muse? said an executive who participated in the session.) 253 following. The former quarterback is reportedly considering.comedy? 3:19. SoftBank deserves a lot of responsibility, a former WeWork executive told me. At company events, Rebekah interviewed luminaries like Lin-Manuel Miranda and Red Hot Chili Peppers front man Anthony Kiedis. In conversations with people inside and outside the company, Neumanns pronouncements became wilder. The article could not have arrived at a more perilous moment. On Sunday afternoon, he met with Dimon at JPMorgans headquarters. Two days earlier, the We Company, WeWorks parent, announced that it was delaying its IPO after investors universally rejected the offering, even when WeWork slashed the valuation by 75 percent, to between $10 and $12 billion. With no private buyer, the only option was to go public. For an embattled CEO running a company on life support, being the subject of a takedown by the business paper of record would mean instant career death. @julierice_ has 11.9K followers, 2.23% - engagement Rate, and 256 average likes per post. The ability to consistently innovate and surprise your customers gives brands a lot of staying power. Another source recalled that parents protested Rebekahs rule that nannies picking up children were required to stand in the vestibule while parents were allowed to wait inside the schools lounge. The crash of WeWorks IPO meant that investors who had pumped billions into WeWork were suddenly at risk of losing their shirts, and now they wanted to collect. A little over a year later, they sold it to the landlord at a reported $3 million valuation and struck out on their own. When WeWork was in its early stages, SoulCycle founder Julie Rice got caught up in the WeWork saga. Jerry Rice is a retired American professional footballer who has a net worth of $55 million. At WeWorks first headquarters in the Financial District, there were twice as many employees as available desks in the early days. This password will be used to sign into all, SoulCycles Founder Is the New Chief Brand Officer of WeWork, 39 Pairs of Sneakers to Upgrade Your Wardrobe, Im On the Hunt for the Best Sunscreens Without a White Cast, Nobody Wants to Perform at King Charless Big Party. The schools security guards were threatening to quit because they hadnt been paid in a month, a former executive recalled. Last updated: 4 January 2023 at 5:10pm EST. Julie Rice ultimately sold her SoulCycle shares for about $90 million and was designated Chief Brand Officer at WeWork in November 2017. Neumanns suspicions of Benchmark increased when he learned that investor Michael Eisenberg, a Benchmark general partner, rallied WeWork board members to dump Neumann after the delayed IPO, sources said. Wall Street too deserves blame, hes told people. Neumann skipped crucial meetings or showed up late for no reason, according to two sources. In March 2019, Forbes included McKelvey on its 2019 World Billionaires List, on which he ranked 775th with a fortune of $2.9 billion, up from $1 billion two years prior. Rice subsequently resigned and later teamed up with Cutler once again and co-founded Peoplehood, a company that facilitates guided conversations. Backed by $60 billion from Saudi Arabia and Abu Dhabi, SoftBank pumped billions into fast-growing but money-losing companies like Uber, DoorDash, and Slack. From November 2017 to March 2019, Ms. Rice served as a Partner at WeWork, a shared workspace company. Adam later said, Im crazy but Masa is crazier, a former WeWork executive recalled. The money was only part of it, though. After leaving SoulCycle in 2016, Rice will focus on promoting community at the office-leasing powerhouse, an initiative she's been super effective at in the past. On Monday, SoulCycle founder Julie Rice was named chief brand officer of WeWork, making her the new visionary of the billion-dollar co-working company. She remains on the board. Then my doctor prescribed me an injectable weight-loss drug that upended everything. "We spend so much. And we want to make money doing it! The crowd of thousands exploded in cheers. And she wants to delay her 11-year prison sentence. SoulCycle cofounder Julie Rice, who joined WeWork in November 2017 to build the company's global brand, departed in August, according to WWD. The best way to understand this brand is to be in the buildings and talk to the members. The companys valuation put Neumanns net worth at $4.1 billionand his spending more than kept pace. Due to his success in the business world, he has been able to amass an estimated net worth of $2.9billion, according to Forbes. The former South Carolina governors bid, which will reportedly kick off with a campaign video as soon as this week, was encouraged by the former president himself. . He earlier discussed buying Slack. 2. Until a few years ago, the Neumanns were devout followers of Kabbalah, the Jewish mystical faith, and it infused WeWorks office culture. Stepping into a new role, how do you influence others and get your ideas heard?By presenting ideas in a way that allows people to collaborate on your ideas. The company slashed its valuation from $47 billion to around $10 billion, but was still in crisis mode. Although many families loved the whimsical little school (more than half the kids received financial aid, the school says), it was not entirely a utopia. 256 posts. Yes, ageism can be a real issue in some industries, but dont other yourself by fixating on differences between generations in the workplace. The company facilitates guided conversations.[8]. Jan. 4, 2022 5:30 am ET. It was comparable to the end of tulipomania. I could do what theyre doing with two people! Everyone knew he was Adams guy. (Tiger did not respond to a request for comment.). Rebekah Neumann shared her husbands fervor that WeWork was a movement. Adam dazzled Masa, an investment banker close to both men told me. On Friday, September 20, Neumann arrived at WeWorks headquarters vowing to fight for his job. Over the past month, WeWork, which was recently valued at $20 billion and operates in 19 countries, bought Lord & Taylors iconic Manhattan storefront (for $850 million) and a coding academy. Today, there are 49 WeWork spaces located in the capital. Just weeks earlier, WeWork had been privately valued at $47 billionwhich was $10 billion more than the market capitalization of Ford and double the GDP of Iceland. She worked as a Hollywood talent manager for 20 years before she and Elizabeth Cutler opened SoulCycles first studio in the rear lobby of an Upper West Side dance studio in 2006. If I say pencils down to my people, the value of buildings will plunge, and I can go in and buy them on the cheap. The executive was chilled by the conversation. They married in 2008, the year Green Desk launched, and she took on the role of WeWorks raven-haired five-foot-nine first lady. He wanted to remain private so he could do whatever the fuck he wanted., It didnt help that Neumann was racing to find a financial lifeline as a darker side of his company was appearing in the papers. Things you buy through our links may earn New York a commission. also known as Julie Rice Julie Seybert. After both episodes, HR failed to discipline the men, the suit said. She moved back to New York in 2002. What we want to do is give them the tools to create an even more connected member experience. Neumann began hearing from WeWorks bankers that Wall Street viewed him as toxic, a person who spoke with Neumann told me. [6][7], Rice and Cutler co-founded the company Peoplehood in 2019. Every investor who walked through was sold, a WeWork executive told me. The events were one part TED Talk (quantum physicist Michael Brooks gave a lecture) and another part Animal House (employees played beer pong and partied to performances by Florence and the Machine and Two Door Cinema Club). Just weeks earlier, WeWork had been privately valued at $47 billionwhich was $10 billion more than the market capitalization of Ford and double the GDP of Iceland. Neumann was blindsided by Masas reversal and did what countless others have done seeking a new starthe headed west. I used to say that you could learn more by taking a class or working behind the front desk for an hour than you could at your desk for a year, says Rice, who has rolled up her sleeves at many WeWork locations. Even after his share sales . I also look at Nike, another hero brand for me at always staying relevant. Confused, Hadley asked who that person might be, according to a source familiar with the meeting. The Wall Street Journal had just published an explosive article chronicling what it said was his reckless management of the coworking start-up, the eras preeminent unicorn. Julie's life's work has been about building community, and these days she brings that focus to her new role at WeWork. McKelvey's 2022 net worth hasn't been confirmed, but as of 2019, it fell to $900 million from its previous $2.9 billion ( via Forbes ), so it is likely continuing to get lower. The whole world shifted, a senior WeWork executive said. The most active insiders traders include Oprah Winfrey, Raymond Debbane, and Mindy F Grossman. They withdrew all five of their kids. Last year, Rebekah fired a mechanic for WeWorks Gulfstream, two executives told me, because she didnt like his energy. 1 Poultry building, London, 2018. The actress is known for her appearance in the drama-comedy series Ugly Betty and also in her central role in the sitcom Superstore.. In the wake of the Journal expos, investor Michael Eisenberg and WeWork CFO Artie Minson held a conference call with WeWorks directors and argued that Neumann had to step down, two people briefed on the call said. Julie Rice in an entrepreneur, investor and co-founder of SoulCycle, a New York City -based fitness company that offers indoor cycling (also known as "spinning") workout classes. At that point analysts were predicting the value of WeWork would top $80-100 billion once it completed an IPO. it's real worth, it claims, is its community and services. Its unclear why Apple would want to invest in WeWork, and not surprisingly, the company passed. Julie Rice is Independent Director of the Company. Having once been a prophet, he now speaks of himself as a martyr, people close to him say. Rice studied English and theater at Binghamton University. Julie served as Co-CEO at SoulCycle from 2006 to 2015 before joining WeWork in November 2017. We are in a consumption phase, like nothing that has ever been seen, Neumann declared at an industry conference in 2015. Clockwise from top, by Jonathan Leijonhufvud, Floto+Warner, Ruhani Kaur, all from Bloomberg/Getty Images. Is Lesley Based on a Real WeWork Employee. (By then, an internal memo had. After hours, members participated in yoga classes, wine tastings, and networking panels. In November 2018, he showed up late, looking hung over, to a meeting with Khaldoon Khalifa Al Mubarak, the CEO and managing director of Abu Dhabis sovereign wealth fund, at the St. Regis in Manhattan, according to a source familiar with the matter. Neumann was becoming increasingly self-destructive. The company charges $34 per class and brought in total revenue last year of $112 . Adam went through money like water, a former executive said. WeCrashed on AppleTV+ follows the remarkable story of the meteoric rise and dramatic fall of WeWork a shared workspace company co-founded by larger-than-life entrepreneur Adam Neumann. By submitting your email, you agree to our Terms and Privacy Policy and to receive email correspondence from us. In October 2018, Ruby Anaya, WeWorks 33-year-old director of culture, sued the company, citing its entitled, frat-boy culture and claiming she had been fired after she reported to human resources that she had been sexually assaulted at a work event. Nikki Haleys 2024 Bid Is ImminentAnd Donald Trump Welcomes Her Company. Sign up for our daily Hive newsletter and never miss a story. To serve as her COO, she recruited education entrepreneur Adam Braun by acquiring Brauns college alternative start-up MissionU for $4 million (Brauns brother is Justin Bieber manager Scooter). It was supposed to buy Neumann enough breathing room to take WeWork public. Adam never wanted to go public, a former executive said. Julie Rice ( @julierice_) is an entrepreneur best known for co-founding the fitness phenomenon SoulCycle. Through a combination of egomaniacal glamour and millennial mysticism, the Neumanns sold WeWork not merely as a real estate play. He spent lavishly, and pressed forward even as the narrative of the unicorn was ending, says an executive. Adam Neumann reimagined the millennial workplace as a capitalist kibbutz, and so dazzled Wall Street that his company was valued at $47 billion. 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