, Columnist
As Bad as WeWork Is, It Could Get Even Worse
Ignore for a moment the huge and undeserved payoff for Adam Neumann. The cash-blazing company is on the hook for $47 billion in lease payments in coming years.
You break it, you buy it.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
I don’t know what’s left to say about WeWork. It’s a disaster and it’s hard to imagine a happy ending — except, perhaps, for the executives and investors who helped make it a disaster.
WeWork’s board of directors on Tuesday reportedly agreed to a financial rescue from SoftBank — the office leasing startup’s biggest outside investor, which is largely responsible for inflating this company into an unrestrained mess. The bailout consists, in part, of a $5 billion loan that SoftBank is putting together.