With its flexible office spaces, WeWork once was seen as a Silicon Valley darling led by an eccentric and charismatic founder. Financial troubled intervened, followed by the pandemic.
WeWork, which was founded in 2010 with the goal of revolutionizing the way people work, has filed for bankruptcy protection. It follows the company warning investors recently that was teetering on the brink of collapse.WeWork, which was founded in 2010 with the goal of revolutionizing the way people work, has filed for bankruptcy protection. It follows the company warning investors recently that was teetering on the brink of collapse.
But the New Age-y declarations were toppled by a more mundane reality: an inability to pay its bills. There was too much space on long-term leases and far fewer workers available to fill it. And so, the business model came crashing down, dragging Neumann down with it.
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