https://arstechnica.com/tech-policy/2023/11/once-valued-at-47-billion-coworking-space-provider-wework-nears-bankruptcy/

WeWork stock fell about 50 percent today as the business once valued at $47 billion reportedly plans to file for bankruptcy.

WeWork was founded in 2010 and provides coworking spaces in office buildings as an alternative to traditional offices and work-from-home arrangements. WeWork gained some high-profile customers like IBM and Microsoft but has consistently lost money. WeWork's net losses have been getting smaller but are still substantial: A net loss of $2.3 billion in 2022 was followed by a loss of $696 million in the first six months of 2023.