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WeWork’s woes dominated the financial news last year. Now, its issues may bring more scrutiny on startups in real estate, according to Cody Vichinsky, co-founder of Bespoke Real Estate.

“You see this golden child, like WeWork, that on paper looks like it’s a game-changing business model,” Vichinsky says. “Then it fails, and the investment that went into it was just unbelievable. How, after all that investment—they have billions of dollars to play with—are they collapsing?

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