Advice Line with Miguel McKelvey of WeWork - How I Built This with Guy Raz Recap
Podcast: How I Built This with Guy Raz
Published: 2026-03-05
Duration: 45 min
Summary
In this episode, Guy Raz speaks with Miguel McKelvey, co-founder of WeWork, about his entrepreneurial journey and the lessons learned from both successes and challenges. They also discuss the current AI business landscape and its parallels to the past tech bubbles.
What Happened
Guy Raz welcomes Miguel McKelvey back to the show, where he reflects on his significant role in the rise and challenges of WeWork. McKelvey shares that despite the ups and downs, he sees immense value in his experiences and the impact WeWork had on many individuals. He emphasizes that entrepreneurship is a roller coaster filled with emotional layers and stresses the importance of learning from every experience, both good and bad.
The conversation shifts towards the current AI business landscape, with McKelvey drawing parallels to the tech bubble era he experienced with WeWork. He highlights the tangible value of companies like WeWork and the uncertainty surrounding the monetization of AI applications. While he acknowledges the incredible potential of AI, he expresses concern about the confusion regarding business models and valuations in this rapidly evolving industry.
Key Insights
- Entrepreneurship is a roller coaster with emotional highs and lows.
- Every experience, whether good or bad, provides valuable lessons.
- The current AI landscape is reminiscent of past tech bubbles, with unclear monetization paths.
- Tangible value in businesses helps clarify their worth compared to abstract AI applications.
Key Questions Answered
What lessons did Miguel McKelvey learn from WeWork?
Miguel reflects on his time at WeWork as a significant part of his life, emphasizing that every experience, whether good or bad, is an opportunity for growth. He enjoys sharing stories with aspiring entrepreneurs and believes that these lessons help him understand business and interpersonal relationships better. This perspective allows him to find fulfillment in knowing that WeWork positively impacted many lives.
How does McKelvey view the current AI startup landscape?
Miguel draws parallels between the rapid growth of AI companies and the previous bubbles seen during the rise of companies like WeWork. He acknowledges the excitement surrounding AI but points out that, unlike WeWork, which addressed a clear need for workspace, the monetization of AI applications is still unclear. This uncertainty makes it challenging to evaluate the true value of these AI businesses.
What can entrepreneurs learn from the WeWork experience?
Entrepreneurs can learn that the journey is fraught with emotional ups and downs. Miguel emphasizes that understanding these emotional layers is essential for personal growth and effective business practices. He also highlights the importance of being open to feedback and learning from both successes and failures to create a positive impact on people’s lives.
What insights does McKelvey have about the valuation of startups?
Miguel notes that while WeWork and similar companies provided tangible solutions that were easy to value, the AI sector presents a different challenge. The rapid rise in valuations for AI startups may not reflect sustainable business models, similar to the dot-com boom's initial excitement without sound fundamentals. He urges caution and deeper analysis of how these innovations will be monetized.
How does Miguel McKelvey handle the emotional aftermath of WeWork?
Despite the pain associated with WeWork's challenges, Miguel finds value in revisiting those experiences. He actively engages with former employees who share their stories about how WeWork affected them. This interaction reinforces his belief that confronting painful moments can lead to productive outcomes and a deeper understanding of his impact as an entrepreneur.