The startup world is due for a reckoning [CNN]
WeWork Inc. (WE)
Company Research
Source: CNN
. You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) When WeWork, the once high-flying office space company, was forced to call off its Wall Street debut in late 2019, it was seen as a mea culpa for the startup world. For years, young companies making big promises had binged on money from venture capitalists and other private investors while reporting huge losses. Now, the thinking went, that would have to change. It didn't. Investors, flush with cash during the recovery from the coronavirus pandemic, kept looking for new places to park it. Startups pledging fast growth looked like a great option. US venture capital-backed companies raised almost $330 billion in 2021 — roughly double the previous record from 2020. Almost three years after the WeWork scandal, however, a real reckoning could be in the offing, as the financial conditions that helped facilitate the startup boom begin to vanish. Breaking it down: For the first
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