You’d think – after the billion dollar collapse of Theranos – that investors would be wise to startup wolves in unicorn clothing. And yet, the scandal that has engulfed WeWork – an Airbnb for business workspaces – perhaps shows that the lessons of history… They might not have been truly heeded just yet.

What is key in the WeWork scandal is the lack of a symbiotic relationship between innovation and risk-based governance. In my mind, one can’t effectively thrive without the other fueling a competitive tension that forces exceptionalism in both.

WeWork was supposed to be the next Amazon. The next Airbnb. The next Alibaba. Instead, there is the very real possibility that WeWork may become just another footnote in the history of failed startups. Snuggled up against Theranos.

The Risktory Podcast is created, written, produced and hosted by Jacinthe A Galpin.

Soundtrack (sourced from www.freemusicarchive.org)
Alan Spiljak – Clouds
Alan Spiljak – Forgotten
Alan Spiljak – Light blue
Alan Spiljak – Empty days
Alan Spiljak – Stars above
Alan Spiljak – Not the end
Alan Spiljak – Sun
Alan Spiljak – Flying away
Alan Spiljak – Time
Alan Spiljak – Fantasy in my mind

Bibliography
https://www.vox.com/recode/2019/9/23/20879656/wework-mess-explained-ipo-softbank
https://www.businessinsider.com/wework-ipo-fiasco-adam-neumann-explained-events-timeline-2019-9
https://www.investopedia.com/articles/investing/082415/how-wework-works-and-makes-money.asp
https://nymag.com/intelligencer/2019/09/what-happened-at-we-why-wework-postponed-its-ipo.html
https://www.vanityfair.com/news/2019/11/inside-the-fall-of-wework