This decade has seen many startups that rose to new heights, and then some that never made it. However, maybe no story is as interesting as that of WeWork, the co-working space, which started off as one of the most promising startups of this decade but ended up being bailed by its own investors. At the peak of its journey, WeWork’s valuation hit $47 billion but in less than a year, it needed an $8 billion infusion to avoid running out of money.
Bloomberg has summarised the startup’s entire journey in a video that’s aptly titled ‘The Spectacular Rise and Fall of WeWork.’ Here are some points to remember from the startup’s journey, in case you are planning on going big with your startup or if you want to avoid making the same mistakes. This is basically a case study of what happens when a startup with no effective oversight on how to spend gets its hands on too much money, too fast.