6 facts from WeWork’s debacle that had me bamboozled
Selling copyrights of your company to yourself for millions
I have heard two podcasts on the fall of WeWork, the multi-billion dollar valued startup that imploded as it approached its Initial Public Offering (IPO).
I first came to know about WeWork around three years ago, after a lot of my friends who were working out of co-working spaces told me about it. I also envied a lot of them for the kind of facilities WeWork Mumbai offices offered to those who had subscribed to the service. Every place I visited in the US and Europe, had massive WeWork buildings. Mumbai now has close to 10 WeWork offices.
I won’t get into the details of how WeWork imploded. This New Yorker story does a great job of that. This book, does an even better job.
But if you aren’t in the mood for reading a book on topic, there are two podcasts I’d recommend if you want to know about the rise and fall of WeWork through the perspectives on not just those who were employed there, but also analysts who had called WeWork out much earlier despite its stratospheric rise in the startup world.
