There are plenty of never-profitable businesses that have gone bankrupt in the past. See e.g. pets.com from the dot com bust. And this downturn has seen "functioning" businesses like SVB and First Republic go under too. So I'm not sure this time is different, at least to the extent you're suggesting.
I do agree that this era of low interest rates has led to some companies getting absolutely massive without ever turning a profit. But hey, that playbook worked for Amazon. Most tech companies have substantially lower capital requirements than WeWork, and can weather this sort of downturn as long as they have a reasonable cash position. Sure, Uber might not make back the amount of funding it's burned through, but that's different than it having a business where the unit economics will never work out.
I do agree that this era of low interest rates has led to some companies getting absolutely massive without ever turning a profit. But hey, that playbook worked for Amazon. Most tech companies have substantially lower capital requirements than WeWork, and can weather this sort of downturn as long as they have a reasonable cash position. Sure, Uber might not make back the amount of funding it's burned through, but that's different than it having a business where the unit economics will never work out.