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WeCrashed offers a bad return on investment – The A.V. Club

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Anne Hathaway and Jared Leto in WeCrashed
Photo: Apple TV+

As far as not-so-great ideas go, WeCrashed isn’t quite as misguided as the multi-billion dollar mayhem it recaps. But boy howdy if it doesn’t match former WeWork CEO Adam Neumann pound-for-pound on crappy decision-making, hapless showmanship, and missed opportunities to get back to basics.

Streaming its first three episodes on March 18 (the rest will come weekly after that), the eight-episode limited series from Apple TV+ is the most recent telling of Neumann’s meteoric rise and cataclysmic decline at WeWork.

The nebulously defined real estate company, which Neumann championed as both an innovative co-working startup and revolutionary effort to “change the world,” famously went from a $47 billion valuation to threat of bankruptcy in just six weeks during the summer of 2019.

Search “WeWork CEO” online and–once you’ve scrolled past its new, less quirky leadership–you’ll find countless articles rehashing the zany entrepreneur’s explosive time manifesting and then mangling a so-called unicorn company. (For those new to venture capitalist lingo: A financial “unicorn” is any privately held startup valued at at least $1 billion.)

Assuming audiences actually want a dramatization of the WeWork saga–which, speaking generously here, is iffy–there are plenty of splashy stories from Neumann’s downfall to put on screen. There’s that time he reportedly hot boxed a private jet, then forgot to deplane his drugs; those rumors that he claimed to have plans for becoming “president of the world” and taking WeWork to Mars; that viral photo of him walking frantic–and barefoot–in New York City mere hours before losing his role as CEO; not to mention, the countless presentations, press briefings, batshit ragers, and resultant lawsuits that saw the hard-partying Israeli businessman snag headlines years before his notorious unseating.

With all that inspiration to draw from, it’s a bit of a marvel then that WeCrashed creators Lee Eisenberg and Drew Crevello don’t deliver a more entertaining show. Despite its impressively detailed set and what looks like a spare-no-expense production design, Apple TV+’s slick recreation isn’t a fraction as fun as seeing the real thing in the Hulu documentary WeWork: Or The Making And Breaking Of A $47 Billion Unicorn, and it isn’t nearly as insightful as the 2020 Wondery podcast on which WeCrashed is loosely based. (For what it’s worth, Eliot Brown and Maureen Farrell’s The Cult Of We: WeWork, Adam Neumann, And The Great Startup Delusion remains the most informative WeWork explainer on the market–and, depending on your reading speed, is only marginally longer than the super-stretched TV series.)

Jared Leto and Kyle Marvin in 'WeCrashed'
Jared Leto as Adam Neumann and Kyle Marvin as Miguel McKelvey in WeCrashed
Photo: Apple TV+

WeCrashed places extra emphasis on the relationship between Neumann and his equally unusual wife and former WeWork executive Rebekah (whose maiden name is Paltrow, and, yes, is cousins with that Paltrow), which helps differentiate it from solo Silicon Valley character studies The Dropout and Super Pumped: The Battle for Uber.

But stars Jared Leto and Anne Hathaway, who deftly play the Neumanns as hyper-passionate yuppies with little to no understanding of consequence, can’t act their way into a story that just isn’t clicking. The primary problem with WeCrashed is its stunning reluctance to say much of anything with its source material—be it about millennials’ crumbling vision of hustle culture, the practical limits on delusions of grandeur, or even the demands of being in a high-profile, scandal-ridden marriage.

The poorly constructed narrative instead presents a muddy, nonlinear collection of events that sometimes creates clever connections between the Neumanns’ beginnings and WeWork’s undoing–but more often appears as a cliché and confused waste of actors better than the erratic editing and direction that frames their performances. (Seriously, very few series can justify having this many goofy smash cuts–and WeCrashed isn’t one of them.)

Anne Hathaway and Jared Leto in 'WeCrashed'
Anne Hathaway and Jared Leto as Rebekah and Adam Neumann in WeCrashed
Photo: Apple TV+

Those sorts of cringe-worthy miscalculations punctuate a show that’s otherwise so stale it might as well have already come out. Endless arguments in WeWork boardrooms and at WeWork construction sites between Adam, Rebekah, and co-founder Miguel McKelvey (Kyle Marvin) are broken up by almost as many party montages–bringing to mind dozens of similar TV shows and movies about wealthy disruptors that are by and large better than this one.

The fights aren’t as smart as the ones in something like the extraordinarily well-written The Social Network, and the parties aren’t as wild as the ones portrayed in something like the bonkers The Wolf Of Wall Street. So the half-baked sameness of the party-fight-party-fight cycle simply washes over the screen, overwhelming the show’s more original ideas with a deluge of exhausting knockoffs that range from boring and forgettable to contrived and overwritten.

The cast of 'WeCrashed'
A scene from WeCrashed
Photo: Apple TV+

Select scenes breakthrough the derivative disappointment and most of those center on Hathaway. Rebekah’s peak villain moments are genuinely enjoyable, in part because they allow Hathaway to revisit the dynamic of her beloved Devil Wears Prada performance from Meryl Streep’s character’s POV. (Look out for a monologue between Rebekah and an assistant in episode six that’s all but copied from the Miranda Priestly playbook.)

Plus, when Hathaway is placed opposite America Ferrera, whose role as the fictional Alishia Kennedy appears to be modeled after the real-world nightmare of SoulCycle’s Julie Rice, the actors light up with refreshingly believable tension. (It’s worth noting that this and other storylines from WeCrashed depart considerably from the facts reported.)

Anne Hathaway as Rebekah Neumann
Anne Hathaway as Rebekah Neumann in WeCrashed
Photo: Apple TV+

Leto doesn’t fare as well with his outrageous CEO, though that seems to stem mainly from lackluster direction. Not only is the actor’s performance hampered by a remarkably distracting nose prosthetic, but his take on the character is so intensely energetic throughout that it borders on one-note.

Scene after scene, Leto bombasts with his big accent and even bigger hand gestures. It’s how the real Adam Neumann behaves, yes, but it’s difficult to watch let alone find compelling. Even in quieter beats, like when the subtle dimension of frenetic genius flits across Adam’s eyes mid-sell (no one said Leto can’t act!), the fatigue of it all may still leave you thinking, “This guy again?”

It’s a question that could apply to the series as a whole. At its best, this painfully uninspired WeWork redux is a redundant, montage-heavy account of facts told more completely elsewhere. At its worst, WeCrashed is a clumsy, ill-advised memorialization of selfish behavior, inexplicably propping up Adam and Rebekah Neumann for yet another dose of outsized attention.

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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