WeWork raised "substantial doubt" about its future existence on Tuesday, adding another twist to a dizzying journey that has markedThe co-working space provider warned investors that, facing losses and fleeing clients, "substantial doubt exists about the Company’s ability to continue as a going concern," according to its second quarter earnings report. Management laid out plans to improve liquidity and profitability over the next year. But Wall Street recoiled.
. Neumann stepped down. Later, in a new incarnation, WeWork went public in 2021 through a merger with a special purpose acquisition company.WeWork's dramatic fall from startup grace captivated the tech and media worlds. In news reporting and dramatic adaptations, WeWork's fall was a story about hubris, greed, and a financial system filled with kowtowing enablers.
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