WeWork's Rise and Fall 2010: Adam Neumann co-founds WeWork Concept: Trendy coworking spaces 2014-2018: Rapid expansion • Raises billions in funding • Valuation hits $47 billion • Opens locations globally 2019: IPO attempt reveals issues • Massive losses exposed • Neumann's conflicts of interest uncovered • Corporate governance problems highlighted September 2019: Neumann forced out as CE October 2019: SoftBank bailout • $9.5 billion rescue package • Valuation plummets to $8 billion 2020-2021: Pandemic struggles • Empty offices • Lawsuits from investors 2021: SPAC merger • Goes public at $9 billion valuation 2022-2023: Continued challenges • Persistent losses • Multiple CEO changes • Stock price decline Lessons: 1. Sustainable growth trumps rapid expansion 2. Proper governance is crucial 3. Beware of charismatic leaders without checks 4. Profitability matters, not just vision A tale of hype, mismanagement, and the dangers of prioritizing growth over fundamentals Fllw fr more
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