WeWork Adds to Venture Capital’s High-Profile Bankruptcy BustsNovember 8, 2023 – Media Mention
Jonathan Shenson, a Partner in the firm's Bankruptcy, Reorganization, & Capital Recovery Group, was quoted in Bloomberg Law discussing the investment decisions made by venture capital firms in WeWork.
Private equity investment in WeWork was part of a broader hype cycle, where firms bet big in pursuit a big payday, not unlike the dot-com bubble around the turn of the century, said Jonathan Shenson, a bankruptcy partner at Greenberg Glusker. When things were going poorly for WeWork, SoftBank bailed it out instead of walking away, he said.
“I think they just got sold,” Shenson said about WeWork’s venture capital investors.