Lesson #203
BusinessWeWork, darling startup just weeks ago, is now fighting for its survival
In a story that will be studied in business school for ages, WeWork, the world's biggest co-working office company, lost 80 percent of its value and nearly ran out of money. It all started when WeWork disclosed its true financial situation ahead of a planned initial public offering. Japan's Softbank, which had invested in WeWork, provided emergency funding, fired the CEO, and took control of the troubled company. Plus, learn English phrase "fall from grace."