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Morgan Stanley says WeWork's failed IPO marks the end of an era for unprofitable unicorns — and explains why it leaves the market's tech kingpins vulnerable

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Mike Wilson of Morgan Stanley says WeWork's struggles share eerie similarities to three other market tops throughout history.

FILE PHOTO: Neumann, CEO of WeWork, speaks to guests during the TechCrunch Disrupt event in Manhattan, in New York Citysimply click here to claim your deal and get access to all exclusive Business Insider PRIME content.

More immediately, Wilson says, high growth software and other tech company stocks will feel sustained pressure and that will affect the broader market. He compared the fiasco to Bear Stearns' sale to JPMorgan Chase as the end of the financial excesses of the 2000s, the failed AOL-Time Warner merger that marked the height of the dotcom bubble, and the failed buyout of United Airlines that stopped the popularity of leveraged buyouts in the 1980s.

 

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