Why the WeWork debacle was inevitable
It’s New Year’s Day, 2010. There’s a 30-year-old man in New York obsessed with the idea of making offices feel like a community – and by hook or by crook, he’s going to do something about it.
Ten years and $8 billion dollars raised later, and Adam Neumann’s company, WeWork, is now valued at less than $5 billion. And in the process, Neumann has become a symbol for the past decade’s mistakes. Even so, he’s still a billionaire. Probably.
The past decade has seen technology companies eat the world. Since Facebook listed its shares in 2012, a portfolio of FAANG stocks has delivered almost quadruple the returns o
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