WeWork – The $47 Billion Disaster

Mar 29, 2023 | Business, Videos

From $47 Billion, to the verge of bankruptcy in just a matter of weeks. The WeWork disaster is a real roller coaster and it would seem that their erratic CEO Adam Neumann is mostly to blame.
Two years ago, a failed initial public offering made WeWork Inc. the poster child for startup excess and corporate governance failure. Today, the shared-office provider finally joins the public markets, having completed a merger with a blank-check firm, BowX Acquisition Corp.
WeWork lost $ 2 billion in 2019 alone. Aggessive expansion, lower occupancy rate, charging basic rates for its deluxe properties, high lease costs, high operation or variable costs were some of the factors that contributed to its loss. May be sometimes, its wise to simply slow down.

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Riyan H.