WeWork’s Downfall Shows How Overvalued Many Startups Are

After weeks of grappling with a failed initial public offering, the board of WeWork this week forced charismatic cofounder and CEO Adam Neumann out of his post. The strange rise and apparent fall of the office-sharing company may represent a turning point for the economy -- and a much-needed correction. The past decade has seen the emergence of an odd, and not particularly healthy, strain of capitalism: supposed corporate superstars that not only lose billions of dollars, but don't expect to earn profits anytime soon.

 

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