After Breakneck Expansion, WeWork Stumbles as It Nears I.P.O. | NYT

Perhaps this pattern should be called the Galloway Effect (see, e.g., WeWTF)

"WeWork’s parent, the We Company, is considering selling its shares at a more than 50 percent discount to its valuation from earlier this year, according to two people familiar with the matter. And in recent days, the company has discussed having one of its biggest backers, the Japanese technology giant SoftBank, provide yet more cash and delaying the offering.

If the public offering stumbles or is delayed indefinitely, it would be a big turning point for the often-frothy world of private companies backed by venture capitalists. Skeptics of WeWork who looked on in disbelief at the We Company’s rapid growth — the business is the largest tenant in the Manhattan office space market — would surely feel vindicated."

After Breakneck Expansion, WeWork Stumbles as It Nears I.P.O. | NYT