The Presidential Daily Brief


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    WeWork's Future Hangs in the Balance

    After hemorrhaging cash, ditching its initial public offering and cutting its controversial CEO, the financially crippled co-working company is looking for a helping hand. Today, it'll reportedly consider rival financing packages from Japanese tech company SoftBank and American bank JPMorgan Chase: The former would hand SoftBank a controlling stake in WeWork's parent, while the latter would introduce a group of outside investors, but burden the company with billions in high-priced debt.

    How badly is the company struggling? It's only got enough cash to last a few weeks, and its valuation could drop to $8 billion from a high of $47 billion.

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