In episode 7 of ‘WeCrashed,’ Adam and Rebekah Neumann’s vanity is revived as WeWork finally begins the process of going public. The pair at the center of it all decide to write the company’s inaugural paper, a significant matter for the rest of its investors.

However, for Adam and Rebekah, co-writing the paper and neatly filling it with their half-baked views becomes a means of healing their deteriorating relationship. We have a feeling that the ominous “crash” is on the way, so let’s double-check that we’ve gathered all of the pertinent information. Here’s a deeper look at episode 7 of ‘WeCrashed.’ WARNING: SPOILERS AHEAD.

Recap of WeCrashed Episode 7

The episode begins with a short, humorous explanation of how IPOs work by a Wall Street analyst (named Scott “Prof G” Galloway), followed by Adam Neumann being denied by Google when he approaches them for funding. Everywhere he travels, the WeWork co-founder is under pressure to take his firm public. Finally, after his bank appears hesitant to increase his line of credit but indicates that an IPO will demonstrate his company’s unicorn status, Adam relents and reveals that he is taking WeWork public. However, he insists on writing the firm’s S-1 document, which is intended to be a highly technical summary of WeWork that exposes potential investors to the company.

The impending IPO has sent WeWork staff into a frenzy. They expect their investments to be worth millions shortly, and when Adam and Rebekah leave, some of them sneak into the couple’s opulent apartment to celebrate. Meanwhile, Adam attempts to enlist Rebekah’s assistance in creating the S-1 paperwork, but the latter is still irritated after being told (in episode 6) that she has accomplished nothing.

Finally, Adam acknowledges Rebekah as a co-founder of WeWork, which attracts her attention, and the two begin “working.” After brainstorming ideas for elevating the world’s consciousness and developing their own versions of financial measurements, the two create an S-1 document that astounds the investors. Meanwhile, Miguel reads through the document and discovers he’s been overshadowed by Rebekah, who appears much more prominently in the company’s all-important write-up.

WeCrashed Episode 7: Will WeWork’s S-1 Document Become Official?

The board meeting to go over the S-1 paper is a tense affair. Cameron Lautner, who has already been a loud opponent of Adam’s methods, is outraged by the co-founders’ interpretation of the official paper. When he brings up the topic at the meeting, Adam dismisses his concerns by confidently shrugging him off. Unfortunately for Cameron, Bruce remains mute and does not object to the document, therefore siding with Adam and Rebekah.

Episode 7 concludes with the same Wall Street analyst from the beginning obtaining 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 document created by Adam and Rebekah during their fantasy-fuelled afternoon at work is now making the rounds and is available to the public. According to the amused reactions of the two people who have seen it so far (a Wall Street analyst and a journalist), Cameron is correct about how the industry would react to it.

Given that Scott Galloway has published a blog post on his reaction to the document, it seems evident that the WeWork S-1 document authored 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 result in the damaging news item mentioned in the first episode of ‘WeCrashed.’

What is the IPO valuation of WeWork?

The episode begins with Adam as a pariah in Silicon Valley, hunting for investors in a failed attempt to postpone bringing his firm public. However, when he eventually decides to go public, the WeWork co-founder and CEO becomes the talk of the town once more, and wild predictions about his company’s valuation abound. (Remember that prior SoftBank investments have already boosted WeWork’s worth to $47 billion.)

Adam closes the worth of his company at an eye-watering $63 billion after the final round of discussions with the president of JPMorgan Chase. He also adds the traditional 18 cents to the sum, a nod to WeWork’s initial investor, who added 18 cents to his contribution as a lucky charm. Of course, the fact that the early investor is a liar and does not return the money indicates at Adam’s own self-serving and questionable spending practices, which are now likely to be made public.