MarketWatch
WeWork Inc. disclosed Tuesday that there’s “substantial doubt” about its ability to continue operating, as the company seeks to improve its financial positioning.
Shares of the company, which provides co-working spaces, slid 24% in Tuesday’s after-hours trading.
WeWork lost $397 million in the second quarter and has $680 million of liquidity. In light of its losses and expected cash needs, “substantial doubt exists about the company’s ability to continue as a going concern,” WeWork said in its second-quarter earnings release. More
WeWork went from a capitalization of $47 billion in 2019 to $166 million today. Here
Almost a decade ago they were named one of the most innovative companies in the nation. Now they’re dog meat.
WeWork is now WeFired
I remember 60 Minutes doing a puff-piece about this grifter bidness.
Liberal utopia run amok.
There was also a company where a dozen or so strangers lived together cheaply and shared everything.
I wonder how that turned out?
Almost a decade ago they were named one of the most innovative companies in the nation !!
Oh yea, the sweet smell of propaganda. Don’t ya love it?
And for those who were wondering, Hitler’s Savage Canary is not a pro Nazi reference. It refers to the Danish resistance that operated within Denmark against the German Nazis who occupied Denmark from 1940 to 1945.
‘WeCrashed’ is a very good mini series on Apple+ about the rise and fall of WeWork. 👍👍
A local high roller real estate guy was/is one of my gym pals. Italian, pretty sure the mofo’s connected. About 5 years ago after a fun evening at the gym he says to me, you know that building I sold you? You need to sell it now. Some what confused I went home and told the brains of the out fit. It took us 60 days to sell it, and prices started dropping like a rock the week before we went into escrow.
WeAllInThisTogether schemes are destined to fail.