Saving WeWork.
WeWork in case you’ve missed it has quickly become the poster child for everything that is wrong with capitalism, trying to recap everything that went wrong is a story probably best told by others ( can’t wait for the movie), but we can try and summarize for those out of the loop :
Like many I was introduced to this fascinating case by Scott Galloway : WeWTF🎥 Here’s an excellent short video overview if you prefer: https://youtu.be/Cb4CGn4a1Y0Also,also, this is pure Tuesday Morning Quarterbacking,we probably know very little of what happens behind closed doors and speculative solutions are just that...speculative.
- WeWork started as an ecofriendly coworking space in Brooklyn, became successful, was sold and later reincarnated with those proceeds as a
designey-chick-milenial-aspirational-community coworking space. - Investors liked the pitch, so it soon found itself awash in capital and valued in the billions, justified in part by the narrative of future profits and value added services… it grew like crazy and burned the capital like crazy to fuel this growth, fast forward a few years…
- The party stopped when WeWork tried to go public, thanks to a now infamous S1 Filing, it was realized that…
