alt Hacker NewsYes, and 5 years and 1 Chapter 11 bankruptcy later, WeWork is now (EBITDA) profitable.
And they've gone private now.
Replies
ashkankiani • yesterday at 4:10 PM
EBITDA profitable is not a substantial vote of confidence.
nunez • yesterday at 4:27 PM
and are much much smaller than they were at IPO
Nobody was saying subleasing offices wasn’t a business. It was just WeWork’s setup that was untenable and ultimately insolvent.
Similarly nobody is saying AI can’t be a successful business, but here too the big labs have dug themselves into a giant hole such that a bankruptcy reset may ultimately be the only way out of it. Time will tell.