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have you ever wondered about the roller
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coaster ride that is wew work's Journey
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a story of meteoric Rise steep fall and
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the attempt to Rise From the Ashes today
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we delve into this Saga beginning with
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recent events we find ourselves in
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November of 2023 wew co-founder and
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former CEO Adam Newman publicly
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expresses his disappointment over the
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company's bankruptcy filing despite his
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Ting in 2019 due to excessive spending
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and controversial Behavior Newman holds
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faith in the potential of wework he
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firmly believes that with the right
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strategy and team wework can
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successfully reorganize now let's rewind
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the clock to understand how we arrived
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at this point back in 2019 weworks major
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backer soft bank took control of the
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company and offered Newman a whopping
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$1.7 billion payout this occurred amidst
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the turmoil of weworks disastrous IPO
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launch which led to a Plunge in
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valuation and subsequently Newman's
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departure fast forward to 2021 wew work
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becomes a publicly traded company
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however it has never turned a profit the
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same year the CEO sandep mathrani
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confidently stated that wework was on
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track to achieve profitability by the
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fourth quarter unfortunately this
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forecast did not materialize as we move
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into 2023 weworks share price has
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dropped almost 99% since going public in
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a strategy to improve liquidity the
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company announces plans to renegotiate
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leases and exit underperforming
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locations the closure of its New King's
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beam house location in London marks the
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beginning of this Retreat these
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struggles eventually lead to the company
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preparing to file for chapter 11
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bankruptcy in the midst of this Newman
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the oued founder has already embarked on
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a new Endeavor a company named Flo which
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has received a $350 million investment
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from Venture Capital firm andrees
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Horowitz to summarize we work's Journey
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can be likened to a dramatic Saga from
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its ambitious Beginnings to its current
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state of bankruptcy despite the optimism
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of its former CEO Adam Newman and the
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Strategic measures taken by the current
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leadership the company's future hangs in
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the balance whether wework will manage
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to reorganize and Thrive again is a
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question that only time can answer for
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now all eyes are on this once highflying
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startup watching as it navigates the
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choppy Waters of business survival as we
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conclude remember that the world of
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business is often unpredictable filled
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with twists turns and unexpected events
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the tale of wew work serves as a
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reminder of this very fact don't forget
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