WeWork’s IPO Disaster and the Problem of Easy Money

One of the most spectacular events in the startup world this year was the collapse of The We Company IPO. Originally WeWork, We is a company that is, essentially, a gigantic sublessor. Started in 2010 by Adam Neumann, the vision of We was to provide collaborative short-term leases to companies. Later, it would branch out into gyms, schools, and apartment rentals. Along the way, the company attracted investors to the tune of billions, such as SoftBank’s $9 billion stake. The company was set to go public this year with an expected market valuation of $47 billion. This sky-high valuation was based on the fact that We managed to define itself as a technology company. To this day, no one is quite sure what technology was actually offered. Read more here:

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