WeWork's CEO drama has one industry insider calling it an 'Elon Musk situation'

WeWork CEO Adam Neumann stepped down from the startup on Tuesday, as its IPO remains delayed. The founder will remain on the company's board as non-executive chairman. That's good for the company, Santosh Rao of Manhattan Venture Partners, told Business Insider, given that the company is fueled by his vision and charisma. "It's almost like an Elon Musk situation," he said.

WeWork CEO Adam Neumann stepped down from the startup on Tuesday, as its IPO remains delayed. The founder will remain on the company's board as non-executive chairman. That's good for the company, Santosh Rao of Manhattan Venture Partners, told Business Insider, given that the company is fueled by his vision and charisma. "It's almost like an Elon Musk situation," he said.

Guy is a clown. Great idea. But not capable of managing the ship in rather challenging waters.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk knew SolarCity was going broke before merger with Tesla, lawsuit allegesWhen Tesla bought SolarCity in 2016, Elon Musk billed the deal as a match made in green energy heaven. What he didn't mention: SolarCity was in deep financial trouble. They’d sell a lot more solar if they lowered the price 1/3rd. Every Tesla loses money. Why not do that with solar too? Everyone seems to think the subsidies will make my mind up but RETAIL solar costs $1 per watt. Why is it $2 with subsidies? SolarCity was a public company then. Anyone could look at its financials and determine its health
Source: latimes - 🏆 11. / 82 Read more »