WeWork's problems are much deeper than a sketchy CEO

Fundamental flaws in the company's business model won't be fixed by a change in leadership

A WeWork building.
(Image credit: Illustrated | TIMOTHY A. CLARY/AFP/Getty Images, IMOGI/iStock, jessicahyde/iStock)

WeWork is not feeling great about its chief executive officer these days. The company, which rents out workspaces with an urban-chic vibe to individuals and companies, is run by CEO Adam Neumann. He's garnered a reputation for questionable leadership, an ostentatious company culture, and a general penchant for grandiosity over substance. According to reports, some of WeWork's big investors and board members are now quietly discussing ways to, if not oust Neumann, at least cut his power down to size.

Unfortunately, it may not be enough. WeWork's problems likely go beyond the qualities of its CEO, to the basic nature of its business model.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.