Documentary

WeWork: Or the Making and Breaking of a $47 Billion Unicorn

2021 · 2021

A valuation story from first round to withdrawn IPO. Community adjusted EBITDA is the single best example of an adjusted metric built to flatter, and being able to explain it is worth an interview answer.

• Accounting
• Valuation
• Founders and companies

1 idea from this documentary

• FrameworkAccounting

  An adjusted metric is an argument about what should not count

  Judge an adjustment by whether an owner of the whole business would also get to ignore the cost.

  Reading any earnings release, pitch deck or S-1 that leads with a non-GAAP measure.