How WeWork rose and then crashed

How WeWork rose after which crashed

Traders who’ve invested tens of billions of {dollars} in it Wework We had been hoping the coworking firm could be subsequent Fb. It did not prove that approach. On Monday, WeWork filed for Chapter 11 chapter, a painful lesson in how simply cash can gas speculative funding.

Adam Newman WeWork was based in 2010 amid a growth in so-called “sharing economic system” startups reminiscent of Uber, Airbnb And Taskscript. Mr. Newman’s concept was to lease workplace house long-term, add millennial facilities like hammocks, ping-pong tables and microbreweries, after which sublease the shared house to startups at larger charges.

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