WeWork’s valuation collapsed from 47 billion to 270 million dollars

Evidence

WeWork emerged as the Fyre Festival of start-ups. Its founder Adam Neumann was a “tall, long-haired, barefoot, meat-banning, weed-smoking, tequila-drinking, Kabbalah-studying, experimental school-opening [Gwyneth] Paltrow-cousin-in-law.” With backing from Japanese megafund SoftBank and Saudi money, Neumann raised WeWork’s valuation to a staggering 47 billion—only for it to drop to 9 billion after going public, then collapse to $270 million before declaring bankruptcy. — W. David Marx, Blank Space, 712

Categorization

• CANDY: The 47B-to-270M valuation collapse and the gloriously absurd Neumann description are light, shareable tidbits.
• SHARE: The softmax of specifics in Neumann’s descriptor (barefoot, meat-banning, weed-smoking, Paltrow cousin-in-law) is exactly the kind of detail a finance/tech-lore friend would savor.