By Nicholas Vardy The recent downfall of tech darling WeWork is a lot more common than it may seem.
Today, Nicholas Vardy explains what went wrong and why WeWork’s stunning failure may be a harbinger of doom for other unicorns.
WeWork founder Adam Neumann is a product of his era.
Neumann’s long, flowing hair, insouciant self-confidence and commitment to “elevate the world’s consciousness” convinced investors that WeWork was not just an office rental company with a dodgy business model.
Instead, WeWork was a tech company that shifted the paradigm, redefining how we all work.
Neumann’s salesmanship convinced SoftBank to invest in the company at a valuation of $47 …read more
