Adam Neumann does not seem like the kind of person you’d want running a public company – or maybe any company at all.
But anyone who thinks removing him as WeWork’s CEO is going to solve the company’s problem and get its initial public offering back on track is seriously deluding him or herself.
The commercial real estate giant’s fundamental problem is not that it has an entitled, hard partying, apparently self-dealing egomaniac as its head. Its core trouble is that it has a business model that just doesn’t work.
Bill Drayton, founder and CEO ofAshoka, literally coined the term “social entrepreneur” when he founded the nonprofit back in 1980, almost 40 years ago. He also decided that changemaker was one word and not two, something the Oxford dictionary now recognizes (though Webster’s does not, to Drayton’s ongoing consternation). Drayton says, “We all sense that society is at a profound, indeed historic turning point.”
Before we explore the turning point he’s talking about, let’s briefly review the history ofAshokaand social entrepreneurship.