Is Wall Street finally learning its lesson on tech firms?

Co-working company WeWork raised multiple red flags before suspending its flotation — but so did Uber and Lyft, says James Moore

WeWork founder Adam Neumann (Reuters)

A corporate visionary for a new way of working, or an accident waiting to happen? Fears that WeWork may be in the latter category clearly played a role in the suspension of parent WeCompany’s much hyped, but increasingly troubled, New York flotation.

The co-working company takes out long leases on property, pretties up the space, then sublets it to firms and individuals. Tech start-ups, freelancers, fast growing young companies and so on.

The aim is to foster a sense of community in the midst of an atomised and insecure working culture, with a bright, colourful and informal image designed to appeal to millennials.