bankruptcy – pressnews

[ad_1] Elon Musk's verbal assault on advertisers who have shunned X (formerly Twitter) threatens to sink the social network further, with the tycoon warning of the platform's demise, just one year after taking control."If somebody's gonna try to blackmail me with advertising, go fuck yourself," a visibly furious Musk told an interviewer in New York in front of an audience of the US business elite this week. Musk was lashing out at the advertisers who had abandoned his platform after Media Matters, a left-wing media watchdog group, warned big companies that their ads were running aside posts by neo-Nazis. Walmart on Friday was the latest to join the exodus, following the footsteps of IBM, Disney, Paramount, NBCUniversal, Lionsgate and others.The latest controversy broke earlier this mont...

[ad_1] For close to a decade, WeWork seemed unstoppable. The company grew rapidly and spent extravagantly. On Monday, WeWork declared bankruptcy. While the co-working company could eventually emerge from the Chapter 11 process and survive in some form, the filing marks a new low for a business that was one of the world's most valuable startups as recently as 2019.After four years of near-consistent mockery, it can be hard to remember how promising WeWork once appeared. Here are some of the highlights from the company's rise and fall: 1. Beer kegs in the office Adam Neumann and Miguel McKelvey started WeWork in 2010 selling desks and an ideal of what an office should be like. One of their essential amenities was beer on tap. WeWork had the support of some powerful venture capital firms, ...

Tag: bankruptcy

Bankruptcy looms: With outburst, Elon Musk puts the survival of X in the balance

Ten Moments From WeWork’s Incredible Rise and Crash Into Bankruptcy