Not too long ago, WeWork was considered one of the most promising new startups in America. Now, after the company’s valuation plummeted from $47 billion to under $10 billion, a canceled IPO, planned layoffs of nearly a quarter of its staff, and the ouster of CEO Adam Neumann, it’s a cautionary tale. The Economist argues that in their haste to find the next big thing, venture capitalists have handed a lot of responsibility – and money – to self-styled “entrepreneurs.” More often than not, it has come back to bite them.
