VC Ben Horowitz: WeWork's overly optimistic culture distorted reality


WeWork's unconventional company culture caused it to lose bit with reality, geographic area capitalist mountain pianist told CNBC on Tues.

"The culture was therefore reality distorted that they could not hear what was very occurring within the business," pianist same on "Squawk Alley." "I've interviewed individuals starting off of WeWork, [they] did not acumen abundant cash was coming back in, what quantity was going out."

WeWork had associate degree optimistic vision of fixing the longer term of labor, however ultimately that strength could have additionally been one among its weaknesses, the Andreessen pianist speculator same. WeWork executives' unrelenting optimism created it so that they weren't ready for a way to affect unhealthy news, he added.

"The draw back of associate degree optimistic culture is what happens with unhealthy news, are you able to really hear it?" pianist same. "Or is it like, 'I don't desire to listen to unhealthy news.'"

The embattled co-working start-up has had many rough months. Last week, SoftBank affected a deal to require eightieth management of WeWork, golf shot SoftBank's chief operative officer, Marcelo Claure, in situ as government chairman. that is once WeWork withdrew its IPO filing and saw Adam von Neumann step down as chief executive officer amid heightened capitalist skepticism and a dwindling valuation.

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