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WeWork Sees IPO Valuation Below $20 Billion

WeWork’s planned IPO is looking increasingly shaky. The Wall Street Journal reported Sunday that WeWork’s parent company, We Co., is aiming for a valuation of under $20 billion when it goes public, down from the $23 billion range being discussed recently. What’s more, some investors are worried enough about weak demand that they are urging the company to call off the IPO entirely. On Monday,...

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Creator Economy
Bill Ready’s Pinterest Turnaround Plan Is Expensive
Photo: Shutterstock
Pinterest on Monday gave us an updated view into its new CEO Bill Ready’s strategy to revitalize the company. It’s an expensive plan, leading to such a spike in spending that profit fell a whopping 90%. And Pinterest, similar to Meta Platforms, is forecasting revenue that’s barely growing, thanks to a downturn in digital ad demand. But Ready can point to one big win: Pinterest’s once-sinking...
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The supplement stacks of 11 founders and investors. Photos courtesy of subjects.
The Big Read culture
The Supplement Stacks: All the Pills, Powders and Potions Filling Tech’s Kitchen Counters
When Courtney Reum wakes up in his Los Angeles home, it’s time to freeze, shake and dangle upside down.
Illustration by Getty Images.
Opinion venture capital
The Relationship Model Is Killing Venture Capital
The social and racial homogeneity of the venture capital industry has long been a source of frustration for entrepreneurs and investors alike.
Photos via Adept Labs, Edmund Hillary Fellowship, Gantry ML, KIT Gründerschmiede, Sci Founders, Shutterstock, Stanford University, University of Central Florida, UC Irvine, UC Berkeley and YouTube.
Exclusive ai
OpenAI Is Making Headlines. It’s Also Seeding Talent Across Silicon Valley
OpenAI has just 375 full-time employees, but its buzzy chatbot, ChatGPT, is shaking up Silicon Valley.
Verily headquarters in San Francisco. Photo by AP.
Exclusive google
Revenues Rise at Alphabet’s Biggest ‘Other Bet’ But So Do Losses
Verily, by far the biggest Alphabet unit by revenue after Google, continues to post heavy losses, according to previously undisclosed financial information.
Art by Clark Miller.
The 1:1 google
‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against Google
A few months into his job as chief legal officer of Sonos, Eddie Lazarus was ready to wage war. When Lazarus joined the audio hardware company in late 2018, it was facing growing competition from tech giants like Amazon and Google.
Illustration by Clark Miller.
Opinion startups
Stop Paying People So Much
Every startup leadership team wrestles with the trade-offs between growth and profitability. This is fitting and ever shall be.