For founders like WeWork’s Adam Neumann, gargantuan funding offered an opportunity — or an imperative — to double down on unproven and money-losing business models.
The slide began a little over a year after that cover. But there was still plenty of time to spin a story of building “scale” and “synergy” in the as-yet-fragmented European internet market. Unlike the U.S., which already had a base of 121 million users who spoke the same language and wanted to buy more and more of the same stuff online, Europe was a collection of countries, each with a unique culture and individual internet markets; the euro had only just been introduced.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: