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WeWork set to sack 2,000 staff as anger towards Adam Neumann grows

25 points by purple_ducks 7y ago

mytailorisrich 7y ago
My nomination for the quote of the year 2019 is in this article: One worker said: “I left crypto to join an even more ludicrous ‘parody, IRL [in real life]’ enterprise. Didn’t even think that was possible.”
keymone 7y ago
> We thought we were in on something really big. - We.
not_a_moth 7y ago
> Neumann, 40, cashed in around $700m of his own shares in WeWork My goodness, is WeWork the most stylish ponzi scheme of all time?
- xiphias2 7y ago
  We knew that public stock holders will get bored at investing in overvalued IPOs, we just didn't know that We will be the one.
- rvz 7y ago
  > is WeWork the most stylish ponzi scheme of all time? Almost. The investors caught them exit-scamming and forced them to postpone the IPO due to further scrutiny of their profitability plans. As for the CEO banking his shares pre-IPO, it doesn't give confidence in investors that they are actually profitable or worthy of being $47B (Now less than $9B). I rarely attack on character here, but I'm afraid this exit-scam almost strongly resembles a certain joker taking his circus on the stock market.
kasperni 7y ago
nymag had a really good article about the WeWork circus http://nymag.com/intelligencer/2019/09/what-happened-at-we-why-wework-postponed-its-ipo.html http://nymag.com/intelligencer/2019/09/what-happened-at-we-w...
deleted 7y ago
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ycombonator 7y ago
Morgan Stanley told WeWork its valuation could hit $104 billion, Goldman Sachs estimated the high end at $96 billion, while JPMorgan said it might reach a more modest $63 billion, according to the Financial Times. How are these three companies still not fined by sec for fraud ?
- Overtonwindow 7y ago
  Probably because they’re deemed too big to hold accountable.
bobosha 7y ago
deja vu over and over again
Overtonwindow 7y ago
When you believe in unicorns you can’t be too upset when they turn out to just be full of imaginary dreams.

25 points by purple_ducks 7y ago

My nomination for the quote of the year 2019 is in this article: One worker said: “I left crypto to join an even more ludicrous ‘parody, IRL [in real life]’ enterprise. Didn’t even think that was possible.”

keymone 7y ago

> We thought we were in on something really big. - We.

not_a_moth 7y ago

> Neumann, 40, cashed in around $700m of his own shares in WeWork My goodness, is WeWork the most stylish ponzi scheme of all time?

xiphias2 7y ago
We knew that public stock holders will get bored at investing in overvalued IPOs, we just didn't know that We will be the one.
rvz 7y ago
> is WeWork the most stylish ponzi scheme of all time? Almost. The investors caught them exit-scamming and forced them to postpone the IPO due to further scrutiny of their profitability plans. As for the CEO banking his shares pre-IPO, it doesn't give confidence in investors that they are actually profitable or worthy of being $47B (Now less than $9B). I rarely attack on character here, but I'm afraid this exit-scam almost strongly resembles a certain joker taking his circus on the stock market.

kasperni 7y ago

nymag had a really good article about the WeWork circus http://nymag.com/intelligencer/2019/09/what-happened-at-we-why-wework-postponed-its-ipo.html http://nymag.com/intelligencer/2019/09/what-happened-at-we-w...

deleted 7y ago

[deleted]

ycombonator 7y ago

Morgan Stanley told WeWork its valuation could hit $104 billion, Goldman Sachs estimated the high end at $96 billion, while JPMorgan said it might reach a more modest $63 billion, according to the Financial Times. How are these three companies still not fined by sec for fraud ?

Overtonwindow 7y ago
Probably because they’re deemed too big to hold accountable.

bobosha 7y ago

deja vu over and over again

Overtonwindow 7y ago

When you believe in unicorns you can’t be too upset when they turn out to just be full of imaginary dreams.