This podcast episode delves into the rise and fall of WeWork, a shared office space company that experienced unsustainable growth and financial losses. Despite a community-driven concept and support from prominent investors, the company's IPO attempt in 2019 failed due to skepticism over its viability. Under its new CEO, the company implemented changes to reduce costs and transform itself into a more stable real estate leasing company. However, the impact of the COVID-19 pandemic and its long-term leases led to significant financial challenges. WeWork's eventual bankruptcy filing aims to ensure a stronger future by canceling uneconomic leases, reducing debt, and emerging as a leaner operation.
