WeWork: Malfeasance or fraud? 7 fascinating insights into ‘WeWTF’

WeWork is looking a lot like WeDon'tWork after CEO and co-founder Adam Neumann was forced to step down. This after the company's valuation plunged at least $30 billion and WeWork pulled its IPO. Before all that happened, Scott Galloway, a professor of marketing at NYU Stern School of Business, dubbed WeWork "WeWTF" on the basis that its $47bn valuation appeared "insane". The New York Intelligencer caught up with him recently after he wrote an article commenting that the "lines between vision, bullsh*t, and fraud are pretty narrow". "Something is wrong. Something stinks. Something … Just. Doesn't. Add. Up." BizNews highlights the key questions and answers in a fascinating, wide-ranging interview, which can be found on the New York Intelligencer website. – Jackie Cameron

IQ: What are your initial thoughts on WeWork pulling its IPO filing? How does the company rebuild toward another IPO? 

SG: Dude, there is no IPO. I'm taking a bit of a victory lap here. I said in 2017, this was the most overvalued company in the world. I said earlier this year that the IPO was not going to happen. This is now a distressed asset. IPO? It's comical that people are still using those letters.

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