The Wild Story Of WeWork

The once-heralded unicorn, and its founders questionable behaviour, is now increasingly under the microscope

Larry Ellison, the multibillionaire CEO of Oracle, lambasted the entire crop of unicorns—those similar to WeWork that have gone public, like Uber. According to Barron’s, Ellison is not a fan of their business models. “They have nothing,” Ellison said. “No technology. And no loyalty.”

He derides WeWork self-positioning itself as a sophisticated technology company. He points out that the emperor has no clothes and sees WeWork as a basic, boring business. “WeWork rents a building from me, and breaks it up, and then rents it,” Ellison said. “They say, ‘We’re a technology company, and we want a tech multiple.’ It’s bizarre.”

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Posted byarketyp