WeWork's rise and fall offers a stark warning for the AI era.
Companies racing for glory in the AI era would do well to learn from the over-exuberance in the WeWork saga.
Since the launch of ChatGPT last year, private tech investors have abandoned their temporary pullback in startup investment to throw money at almost any company with AI in the name.
ChatGPT's creator OpenAI has bagged billions of dollars from Microsoft, while venture capitalists announced $10.7 billion of generative AI startup deals in the first quarter of the year, per data firm Pitchbook.
But equally, investors would be wise to learn from WeWork and look under the hood of any AI firm claiming it will fundamentally alter any market.
Persons:
OpenAI, Adam Neumann, Jackal Pan, Getty Images Neumann, –, It's, Sam Hogan
Organizations:
Microsoft, Visual China, Getty Images
Locations:
American