Once a darling of venture capital investors, with a valuation of $47 billion and a plan to launch an IPO this year, WeWork has fallen on tough times. CEO Adam Neumann was forced out, and the IPO if off. WeWork, a company that provides coworking office space, invested heavily in real estate, often buying and selling to itself, or to companies owned by its executives.
Tech expert Omar Gallaga, who podcasts at Tech Minute Texas says WeWork is a high-flying example of a Silicon Valley company where the valuation by investors far outstripped actual profits.
What you’ll hear in this segment:
– How WeWork executives engaged in self-dealing
– What WeWork’s future may hold
– How WeWork reflects the problems with startup culture
Written by Libby Cohen.
