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VIDEO INTRODUCTION:
Hi everybody,
On the 6th of November, WeWork filed for bankruptcy.
Today, its share price has dropped from 100 dollars in 2022 to just $1.6, thats a drop of 98.4% in just 1 year!!
But did you know that back in 2019, this same company was considered to be revolution in the American start up ecosystem because they were valued at a mind-boggling 47 Billion dollars!!
Fun fact, they commanded a 47 billion dollar valuation without ever making a single dollar in profits!!
And this failure of we work is not just another case study but very important bsuiness lesson for the investors and entrepreneurs all around the world on How to build disastrous company!! So if you are an entreprenur or a student of business just like Apple serves as an inspiration on how to build a business, wework is a classic example how not to build a business.
Which is why this case study is very important for all us to study!!
So lets dive into and understand,
How did WeWork rise to become a 47 billion-dollar company with no profits at all?
And after becoming a so called Legend, how did it fail miserably?
And, lastly, as students of business what are the failure lessons that we need to learn from the fall of WeWork?
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✅Study Materials:
STUDY MATERIALS
https://hbr.org/2021/07/spacs-what-you-need-to-know
https://davidfriedlander.medium.com/why-wework-failed-d1bdee471f5d
https://www.cnbc.com/2019/11/21/wework-lays-off-2400-employees.html
https://www.forbes.com/sites/sergeiklebnikov/2021/10/21/wework-shares-rise-as-much-as-8-after-going-public-via-spac-merger/
https://www.wired.co.uk/article/we-work-startup-valuation-adam-neumann-interview
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#wework #weworkbankruptcy
#thinkschool #businesscasestudy #geopolitics Credits: CNN-News 18, WION, NBC News, Money control pro, Business standard, TV18,Business Today, ABC news, CNBC, ET now ,Bloomberg originals, Financial Times, DW documentary, AL Jazeera English, BBC news, Firstpost. Fair use - This video is for educational purposes only. All materials used in this video, including images, audio, and video clips, are the property of their respective owners and are used here under the doctrine of fair use. This video is intended to provide commentary, criticism, research, and education on the subject matter. We believe this constitutes a fair use of any such copyrighted material as provided for in Section 107 of the US Copyright Law.