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Shira Ovide

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.

You break it, you buy it.

Photographer: Kiyoshi Ota/Bloomberg
Updated on

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.