Hailed as unicorns, Katerra and WeWork were meant to transform the Architecture, Engineering and Construction (AEC) industry. As the sector watched on with bated breath, we were told how vertically integrated companies were going to disrupt the industry with technology. What eventuated, however, was an extremely bright, short-lived moment of fame, culminating in a spectacular implosion. This is a story of the great tech delusion, deep pockets and why two of the most valuable startups in the world failed. It is the story of supernova stardust.
n. pl. su·per·no·vae (-vē) or su·per·no·vas
A rare celestial phenomenon involving the explosion of a star and resulting in an extremely bright, short-lived object that emits vast amounts of energy. Depending on the type of supernova, the explosion may completely destroy the star, or the stellar core may survive to become a neutron star.
The Free Dictionary1
Background
On 1 June this year, news broke that Katerra was…