WeWork filed for bankruptcy. Where did the product go wrong?

WeWork's journey from a highly valued startup to filing for bankruptcy underscores the challenges it faced in its core business model and product management. Founded in 2010, WeWork aimed to transform coworking spaces by offering various amenities and services; however, its rapid expansion into areas like co-living and wellness services masked underlying issues. The company's attempt to go public in 2019 revealed substantial financial losses and high debts, leading to the resignation of its founder, Adam Neumann, and a failed IPO. The COVID-19 pandemic further exacerbated its decline as clients canceled memberships. WeWork's lack of a competitive advantage in a saturated market, failure to be data-driven, and misguided focus on diversification rather than perfecting its core offering contributed significantly to its downfall. Despite marketing efforts and investment inflows, the absence of a unique value proposition and inadequate product focus led to its insolvency. The company's inability to adapt and react to market demands with a data-driven strategy ultimately culminated in its filing for Chapter 11 bankruptcy, casting doubt on its potential for recovery.