Following WeWork's warning that it could be headed for bankruptcy, FOX Business gives a timeline of the long-suffering co-working company's years of troubles.
Lol, no. It was alllllllllll fake the entire time. It’s just that once the IPO had happened and the founder ran off with his billions, they really had to try to make this completely unworkable business model work
“In retrospect, Neumann’s knack for amassing billions of dollars in venture capital with no viable business model was one of the greatest scams of the twenty-first century.”
There were other factors like investors treating it like a tech stock rather than real estate and wasteful spending, but companies moving to telework really killed it.
Yeah weren’t they doing all this weird things to try and become the next big tech company even though their whole business model is essentially leasing?
Perfect example of a company that tried to go too big
Telework killed it since they were left with empty buildings.
Weren’t they fumbling a sure thing, even before that? I thought they were slightly on fire by mid-2019.
Lol, no. It was alllllllllll fake the entire time. It’s just that once the IPO had happened and the founder ran off with his billions, they really had to try to make this completely unworkable business model work
“In retrospect, Neumann’s knack for amassing billions of dollars in venture capital with no viable business model was one of the greatest scams of the twenty-first century.”
https://newrepublic.com/article/160299/wework-book-review-billion-dollar-loser-rise-fall-adam-neumann
He had WeWork renting the buildings from him, the founder of WeWork. That’s some A+ grifting right there.
It sure did. Interesting model, but just not quite right.
There were other factors like investors treating it like a tech stock rather than real estate and wasteful spending, but companies moving to telework really killed it.
Yeah weren’t they doing all this weird things to try and become the next big tech company even though their whole business model is essentially leasing?
Perfect example of a company that tried to go too big
I feel like they did that because a real estate leasing company would probably have a stricter dress code than a tech startup