Good Friday. Howard Schultz, the former Starbucks C.E.O., called off his presidential bid. And don’t forget: I’m going to be in conversation with Blackstone’s Stephen Schwarzman about his new book, “What It Takes: Lessons in the Pursuit of Excellence,” at a DealBook TimesTalk in New York on Sept. 16. Get your tickets here. (Was this email forwarded to you? Sign up here.)

WeWork’s I.P.O. dreams may be on the rocks

The co-working giant had ambitions to stage an outsize public stock offering that would give it a rich valuation and the opportunity to raise money from a new set of investors. It may have to put those plans aside for now.

WeWork is considering valuing itself in an I.P.O. at around $20 billion, Michael de la Merced and Peter Eavis of the NYT report, citing unnamed sources. That would be less than half a $47 billion valuation from January.

The company has also discussed taking more money from SoftBank, one of its largest investors, which could either help bolster its I.P.O. or allow it to delay the offering. (Nothing has been decided yet.)