WeWork's Cofounder Grapples with Guilt After Departure

After leaving WeWork in 2020, Miguel McKelvey couldn't easily shake off a deep sense of guilt that lingered.

In his role as the chief culture officer, McKelvey placed significant emphasis on nurturing employee satisfaction at the company, which was going through a tumultuous period. Former staff revealed to Business Insider how he would personally greet them during their onboarding process.

The company's failed IPO and the subsequent departure of his cofounder, Adam Neumann, led to a wave of layoffs, impacting many of the employees McKelvey had come to know. He recently opened up on the 'Scale with Soul' podcast about the heavy burden of guilt he carried as he navigated his life post-WeWork.

"While I did acquire some wealth through WeWork, many others, unfortunately, did not share that same fortune," McKelvey confessed. "Numerous people I cared for lost their employment. Many dreams tied to WeWork shattered."

He felt a responsibility to make amends for the setbacks experienced by those around him.

During the height of its operations in the latter part of the 2010s, WeWork faced several cultural challenges. An investigation by Business Insider revealed troubling incidents such as executives fraternizing with subordinates. In 2019, several employees described company gatherings characterized by excess, including alcohol and drug use. Notably, WeWork did not offer a comment on these reports.

Recalling better times at WeWork on the podcast, McKelvey spoke of an environment where employees could openly discuss their cultural identities and the challenges of navigating different social expectations in the workplace. He shared a poignant story about a woman who expressed disbelief at finally meeting her boss, something she had never experienced in her previous jobs.

"I let her down," McKelvey noted. "Where might she find herself now? Likely back at a company where she feels neglected. Accepting this reality is profoundly difficult for me."

Gesturing toward his heart, McKelvey mentioned the intense internal struggle in accepting such outcomes.

Following the company's 2019 IPO filing, 2,400 WeWork employees—nearly a fifth of its workforce—were dismissed. Additional cuts followed once the COVID-19 pandemic struck. By 2023, WeWork had filed for bankruptcy, although it successfully emerged from these proceedings a year later.

After his time at WeWork ended, McKelvey co-initiated ventures like the health-focused Unbound and a youth basketball initiative named UK50.

On the podcast, he elaborated on how he couldn't rely solely on logical thinking to address his emotional turmoil. Taking a deep breath, he detailed his process of confronting the guilt: "Dive deep. Discover it. Fully experience it. Embrace it. And endeavor to release it."

He expressed concerns about his capacity to handle his emotions, fearing that without this approach, he'd remain stuck in a negative emotional state.

"My heart is racing even now because the feeling hasn't completely subsided," he admitted.