Expert details why WeWork failed so spectacularly

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Before the pandemic, WeWork (WE) was valued at $47 billion, quite the high for a company that just filed for Chapter 11 bankruptcy on Monday. According to Bloomberg, the company's first appearance in bankruptcy court will be on Wednesday, to settle the $4 billion debt it can't afford to pay back. The George Washington University School of Business Professor Christopher Kayes joins Yahoo Finance to discuss WeWork's fall from grace as a startup darling, how it got to this point, and whether or not the original valuation was overhyped. "This is a company that never really had a business model that met the overhyped expectations that were placed on it. I think today we are going to see, and in the next couple of years, we will say 'does this business model really work?'" Kayes asks. "The other question really around this is how big is the market for people that want flexible workspace? I think there is going to be a limit to the number of people working that are going to be working in this kind of environment." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #WeWork #youtube #stockmarket About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Financ

Published 2023-11-08 · Watch on YouTube ↗
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