As WeWork Grew, Wall Street Lent It Money and Credibility – The Wall Street Journal

Banks jockeying for a role in WeWork’s public debut wooed founder Adam Neumann with sky-high valuations that would make him a billionaire many times over. Their loans to the company told a different story.

JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks arranged giant fees and strict protections that reflected their concerns about WeWork’s unproven business model and Mr. Neumann’s unpredictable behavior.