Masayoshi Son, the founder of SoftBank, the majority shareholder of WeWork and one of its prolific backers convinced of its business model and growth potential, was quoted as saying that WeWork would be the “next Alibaba”. Towards that dream, he injected heaps of money into the startup. However, more than a decade after the promising startup made its debut and more than five years after Son’s entry, the company is yet to find the treasure in the cave despite receiving the “magic words” from investors who believed in its founder and team to make good on their promises.
The Fallacy of the Charismatic Leader
What is with startups and their founders who aid the wave of corporate revolution, new business models, and new thinking with excellent articulation, crowned and celebrated as models of hard work only to be dethroned and relegated to pariahs in the startup culture dustbin? The media elevated Elizabeth Holmes and Sam Bankman-Fried of FTX at their zenith and followed them with the same fervor as they fell from grace. These young innovators were dubbed the next Steve Jobs, the dropouts on their journey to make it big. Significant investors were throwing their weight behind them and elevating their star power. They were CEOs and founders in turtlenecks, attending speaking sessions with politicians in casuals, shorts, t-shirts, and sneakers.
Denne historien er fra September 2023-utgaven av Business Today Sri Lanka.
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Denne historien er fra September 2023-utgaven av Business Today Sri Lanka.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Vision Care Expands Branch Network with New Wennappuwa City branch
Vision Care opened its newest branch in Wennappuwa, further expanding its network of accessible, top-quality vision care services across the country.
HNB Wins' Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs'
HNB was honored with the titles of 'Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs at the Euromoney Awards for Excellence 2024.
People's Bank 'People's Pay' App Now Offers Easy Access to CRIB 'My Report'
In the current fast-paced environment, the ability to promptly access vital information can greatly expedite financial transactions.
HNB Partners with John Keells CG Auto
HNB has strategically partnered with John Keells CG Auto (JKCG Auto) to offer innovative leasing solutions for their BYD vehicle range.
Pathfinder Foundation Presents Sinhala Translation of 'The India Way' to Dr. S. Jaishankar, External Affairs Minister of India
The Pathfinder Foundation presented the Sinhala translation of Dr. S. Jaishankar's seminal work, The India Way: Strategies for an Uncertain World, (ඉන්දීය. මාවත අවිනිශ්චිත ලෝකයක උපාය මාර්ග) to the visiting Indian External Affairs Minister during a ceremony in Colombo.
SLT-MOBITEL Nebula Institute of Technology recognized on Campus Chapter as the tenth IET
SLT-MOBITEL Institute Nebula of Technology, the education arm of SLTMOBITEL, has achieved a significant milestone by being recognized as the tenth IET on Campus Chapter.
People's Bank Relaunches Multiple Enhanced Services for Migrant Workers
People's Bank Celebrated World Children's Day by relaunching 'Ethera Udana Minors' Foreign Currency Account with new features.
EU Delegation Commits to Strengthen Sri Lanka-EU Relations, Extends Presidential Greetings from Key European Leaders
President Anura Kumara Dissanayake met with the European Union (EU) Delegation, led by EU Ambassador Carmen Moreno.
ADB Delegation Meets President Dissanayake, Pledges Continued Support for Sri Lanka's Economic Development
The Country Director of the Asian Development Bank (ADB) Resident Mission in Sri Lanka, Takafumi Kadono, along with a delegation, met with President Anura Kumara Dissanayake.
Sri Lanka Secures USD 200 Million from World Bank's IDA for Second Phase of RESET Program
The International Development Association (IDA) of the World Bank Group (WBG) has approved a USD 200 million financing package to support the second phase of Sri Lanka’s Resilience, Stability, and Economic Turnaround (RESET) Development Policy Financing (DPF) program.