Will WeWork work?
Company believes there is a great need to accommodate workforces splitting their time between home and the office
When WeWork Cos tried to go public two years ago in the US, it was an unmitigated disaster. The company was burning cash at a rate as high as $2bn (about R29bn) a year, and its erratic and egomaniacal CEO, Adam Neumann, had enriched himself by selling off stock while persuading private investors to value WeWork at an inflated $47bn.
Public investors balked at the price, the start-up was forced to pull its initial public offering, Neumann resigned, and thousands of employees lost their jobs, all in the span of a few months...