Remember this startup? They went from 47 billion to 0.78 billion

First, I wrote a headline that sort of reveals the plot to save you time.

Because time is money unless you are WeWork where with time you keep losing money :p

But the story doesn't end there: It did IPO at 9 billion $. A massive, massive loss but still close to almost double digits & more valuable than it's traditional competitors like Regus. But this is the current value.

0.78 billion $$ from 47 billion $

This shatters a few key myths:

• You can't add tech to everything and make it a great business
• Popularity doesn't mean profit (WeWork was quite popular)
• Good CEOs aren't necessarily charismatic.
• Capital as an investment strategy doesn't work (Sorry Softbank)
• Even a pandemic can't save a terrible business. (During and post-pandemic demand for coworking increased.)
• Job cuts & cutting down unprofitable ventures can save a business only to a point**

“Over the past 20 months, we have focused on streamlining our operating expenses and right-sizing our real estate portfolio…We are the right company, at the right time.”-Sandeep Mathrani the CEO of WeWork after Neumann

"The new leadership implemented some drastic cost-cutting measures, including slashing two-thirds of headcount and exiting or renegotiating hundreds of leases at underperforming locations." source :click here

**Remember, this is happening in India too for the last few months. Firms about to IPO are laying off people,closing unprofitable projects, reducing exec compensation and everything to make their books look better. This will help in an IPO but in the long run, business has to make sense !

Indian tech stocks have already lost 30 billion $ in market cap since last year.

Perhaps Adam Neumann can start investing in Indian tech stocks. For his goal was always to 'elevate?the world's?consciousness' ; Indian tech stocks certainly need elevation.