I am using MySQL Server 8.0 on Windows 10. I followed this tutorial to initialize.
C:\\Program Files\\MySQL\\MySQL Server 8.0\\bin
λ mysqld --initialize
Try using mysql -u root -p instead of mysqld - u root -p
After this there could be error about unable to create data folder(try specifying the path to data like this eg..,mysqld --initialize-insecure --basedir=specify your path/mysql/mysql --datadir=specify your path/mysql/data)
or data folder already exist(Go there and delete the data folder.)
or for now later versions in data folder there is already a file exist named my.ini copy it and paste it to C:\Program Files\MySQL\MySQL Server 8.0(you could do more changes here and specify the path to data and base dir)
(NOTE: you could define the path to system environment variable(search google how to do it), after that you do not have to go this path every time) now your server up and running.
mysqld: ready for connections Version: '8.0.15' socket: '' port: 3306
Now use command --> mysql -u root --skip-password then
mysql> ALTER USER 'root'@'localhost' IDENTIFIED BY 'new_password';
this command to set root password.