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| Name | The Inevitable Decline of WeWork |
| Video Uploader | Video From Patrick Boyle |
| Upload Date | This Video Uploaded At 07-10-2023 22:00:07 |
| Video Discription | Try out Blinkist for 7 days for FREE plus 25% off a premium membership! https://www.blinkist.com/patrickboyle. Thank you Blinkist for sponsoring today's video! WeWork announced this week that it would not make two sets of interest payments totaling about $95 million, a move meant to jump-start negotiations with its lenders at the same time it tries to cut costs with its landlords. The missed interest payments will spur speculation of a bankruptcy filing. But WeWork says it has the cash on hand, and the company has a 30-day grace period to make the payments, which were due Monday. At the end of June, it had $205 million in cash and access to a credit line worth $475 million. Skipping an interest payment is not necessary to negotiate with lenders. But indebted companies sometimes use the move to put pressure on lenders to restrike deals under more favorable terms. From its inception in 2010 to its collapse in 2023, WeWork's journey has been a roller-coaster. Once valued at $47 billion dollars, the company today, is on the verge of bankruptcy. How did the Venture Capital backed co-working company, end up as the biggest financial bonfire in Venture Capital history? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join [n3Q_4vjPMSE] |
| Category | Education |
| Tags | finance | trading | patrick boyle | on finance | cfa exam | kings college london | business school | quantitative finance | financial derivatives | personal finance | investing | investments | stock market | corporate finance | wework | flow | Adam Neumann | Adam Neuman | Softbank | Masayoshi Son |
