$47 billion valuation. “We’re elevating the world’s consciousness,” the CEO said while walking barefoot and smoking weed. Then investors read the IPO filing. Losses of $1.9 billion annually. No path to profit. A CEO who’d sold $700 million in stock while employees got nothing. Six weeks later, the IPO was dead. The CEO was fired. And the “tech company” was revealed as an office rental business losing money on every desk.
WeWork Collapse: Adam Neumann’s $47 Billion Valuation Scam
