business

WeWork debacle has unicorn investors seeking cover

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By Anirban Sen and Jane Lanhee Lee

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Uh, when it comes to HNW Individual "Investors" in startups, one would expect that they have done their homework, rather than relying upon others to have done so... in this case, one person was caught napping and paid for it. I doubt, those "advisors" who were working for him, are working anymore.

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Wework's valuation was always fanciful. The basic business model is not new, but it gave it a fashionable makeover. However, the offices are expensive to furnish and barriers to entry are not significant.

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