- US co-sharing office startup WeWork had a valuation of $47 billion as it moved towards an IPO in August
- Founder Adam Neumann stepped down as CEO amid growing concern about his behaviour and the company’s viability and the IPO was withdrawn
- A long time critic says the company looks set to lose thousands of jobs, could be headed to bankruptcy and will cause massive damage to key investor SoftBank’s $100bn tech fund
Scott Galloway, professor of marketing at New York University’s Stern School of Business, saw the WeWork trainwreck coming down the tracks in 2017.
Even two years ago he thought Adam Neumann’s office space venture was overvalued, and after the business filed for its IPO in August, Galloway let with an analysis titled WeWTF on his excellent, provocative business insights blog, No Mercy/No Malice.