WeWork Is Built on Economic Optimism. That Can Be a Dangerous Thing
WeWork co-founder and CEO Adam Neumann.
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In the late 1920s, American investors bought stock for pennies and borrowed to pay off the balance, betting the price would go up. We all know how that ended.
In the mid-2000s, banks made questionable loans to subprime borrowers and then packaged them and sold them off in complex financial instruments, part of a perilous gamble that home prices would keep heading skyward. Cue the global financial crisis.