Prompt Cast
The Journey of Miguel McKelvey from Architecture to Co-Founding WeWork
TLDR Miguel McKelvey's journey from growing up in a hippie collective to co-founding WeWork with Adam Neumann, focusing on creating shared office spaces, facing challenges, rebranding, securing real estate, and building successful work environments that integrate with people's lives.
Timestamped Summary
00:00
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05:53
Miguel McKelvey grew up in an all-women hippie collective in Eugene, Oregon, and despite the unconventional upbringing, he had aspirations for something bigger, eventually leading him to pursue a career in architecture and dream of living in New York.
10:43
Miguel McKelvey moved to New York for a job in architecture at a small firm in Brooklyn, starting out as a junior draftsman and quickly becoming involved in managing multiple American Apparel store projects, experiencing rapid growth and intense pressure.
15:25
Miguel McKelvey met Adam Neumann, his future partner at WeWork, through a mutual friend and connected over shared charisma and a discussion about innovative business ideas.
19:55
Miguel McKelvey and Adam Neumann came up with the idea of creating shared office spaces to provide a higher level of service than traditional office leases.
24:35
Constant contact makes it easy for small businesses to promote themselves through various marketing tools, ensuring effective communication and growth.
29:25
They quickly filled up their first building with 350 members, leading to profitability, but faced challenges expanding due to differing visions with building owners, eventually selling the business and starting over with a new focus.
33:40
They rebranded as WeWork to reflect their vision of a community-oriented business, faced challenges finding real estate due to lack of experience, but eventually secured a building in Soho by convincing the owner, using money from the Green Desk sale to cover the security deposit and investing in renovations themselves.
38:18
They renovated their first WeWork space themselves, from drilling into bricks to soda blasting, creating a unique blend of old and new design elements, and quickly filled the building with members, leading to early investor interest and a $45 million valuation offer.
42:34
They received early investment that validated their vision, allowing them to expand quickly and build credibility by delivering on their promises, creating unique and successful spaces that stood out in the market.
47:12
Miguel McKelvey discusses the importance of creating work environments that integrate with people's lives and provide value, emphasizing the shift in mindset towards work-life integration.
52:26
Crystal Gordon, an aerospace engineer turned entrepreneur, invented the DuVeid, a simple yet innovative tool that makes it easier to put a duvet back into its cover, leading to successful sales and a patent.
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Business
