Finance
Tech CEOs who have been ousted: Travis Kalanick, Steve Jobs, and more
After months of grim headlines and an exodus of top staffers at WeWork, the office-sharing startup may be on the verge of losing another key employee before the end of September: its CEO, Adam Neumann.
The news that some of WeWork’s investors and board members want to fire Neumann comes in response to the CEO’s bizarre management style, reports of his possible drug use, and a year in which the startup’s valuation dropped to below $20 billion from $47 billion in January. WeWork planned to go public this month, but the company has since shelved its IPO until later this year.
While these factors are unique, the possible ouster itself is part of a growing tradition in tech: Nearly a dozen of the largest tech startups in recent memory have seen their founders pushed out.
The trend represents a tension that repeatedly surfaces between tech founders and their companies: Wunderkind startup founders capture investors’ attention with bold ideas and eccentric management strategies, but those assets can quickly become liabilities in the eyes of shareholders, especially with billions of dollars on the line.
Here’s a look back at nine founders who were forced out of the tech companies they started.
Meira Gebel and Kevin Webb contributed to an earlier version of this post.
-
Entertainment7 days ago
‘Only Murders in the Building’ Season 4 ending explained: Who killed Sazz and why?
-
Entertainment6 days ago
When will we have 2024 election results online?
-
Entertainment7 days ago
5 Dyson Supersonic dupes worth the hype in 2024
-
Entertainment5 days ago
Halloween 2024: Weekend debates, obscure memes, and a legacy of racism
-
Entertainment6 days ago
Social media drives toxic fandom. Is there a solution?
-
Entertainment5 days ago
Is ‘The Substance’ streaming? How to watch at home
-
Entertainment5 days ago
M4 MacBook Pro vs. M3 MacBook Pro: What are the differences?
-
Entertainment3 days ago
Menendez brothers case reignites online: The questions that keep resurfacing