Webpack-cli package 3.3.12 -> 4.1.0 upgrade breaking Webpack

Running into an issue with package upgrade with Webpack-cli from 3.3.12 to 4.1.0

This breaks my local environment for running the web-development-server command.

Lots of info here: https://github.com/webpack/webpack-dev-server/issues/2424

Seems to be some changes to the command name.. now: bin/webpack serve

Also running the new command creates this error:

ERROR in Entry module not found: Error: Can't resolve './src' in '/Users/tdehnke/workspace/12vBiz'

ERROR in multi (webpack)-dev-server/client?http://localhost:8080 ./src
Module not found: Error: Can't resolve './src' in '/Users/tdehnke/workspace/12vBiz'
@ multi (webpack)-dev-server/client?http://localhost:8080 ./src main[1]```

Has anyone else run into this or found a solution?