WeWork: There’s more than one gray rhino in the room

WeWork’s S-1 turned out to be a massive “gray rhino” – a term coined by author Michele Wucker back in 2013 to describe a highly probable, high impact yet neglected threat – says Barbara Gray from the Pennock Idea Hub. WeWork is now in cost-cutting survival mode, she says, selling the $60M private jet that Neumann bought last year, selling its 3 recent acquisitions (Meetup, Managed by Q, Conductor), exiting its non-core businesses (WeGrow, WeLive, Rise By We, Made by We), halting all new lease agreements, and it is expected to also cut thousands of jobs. Gray is just out with a new 47-page research report “Watch Out for Gray Rhinos, Not Just Black Swans”, where she reveals that WeWork’s S-1 isn’t the only gray rhino in the room.