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I think an under-appreciated aspect is that you can't just have a CEO who's engaged in extremely questionable practices like WeWork's did just flip a switch and
by ianferrel 7y ago
I think an under-appreciated aspect is that you can't just have a CEO who's engaged in extremely questionable practices like WeWork's did just flip a switch and say "Ok, now we're public, so I'm going to cut all that out and be honest". It's a pretty big fucking signal that he's not trustworthy.
Neumann's past behavior is still a problem.
- thefj 7y agoAbsolutely. Traditionally the move for a company in this situation might be to replace the CEO if they plan to raise public money and he has a history of bad behaviour. In WeWork's case it's probably impossible to remove him both legally and because the whole company is built around his personality cult.
- munk-a 7y agoI mean... this should lower the valuation into the ground, companies built around personalities will collapse - possibly when the personality retires/dies but more likely just due to implosion over crazy antics. A company is something "we" build, it isn't something "one" builds, and this misunderstanding is causing a lot of social pains in the US right now.
- dondawest 7y ago>A company is something “we” build It is deeply ironic that the company that elucidates this exact philosophy in its IPO is such a good example of a company built by “one.”