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He looks set to walk away with $700m regardless. He deserves a chapter of his own in How To Sucker A VC.
by goatinaboat 7y ago
He looks set to walk away with $700m regardless. He deserves a chapter of his own in How To Sucker A VC.
- pxue 7y agoNot unless he gets sued. And I hope he does
- deleted 7y ago[deleted]
- TheOtherHobbes 7y agoHe borrowed money against his WW shares. There are rumours a margin call may be due.
- pmart123 7y agoAt this point, he should really be looking to add a property in Florida before it is too late.
- onetimemanytime 7y agohow does that work? I know from OJ that FL law protects the home, but will you have a $50 Million home with all the expenses but that cannot sell? Maybe he can borrow against it... But I doubt he'll get sued. Unless he fudged the numbers it isn't his fault that supposedly sophisticated suckers gave him money.
- pmart123 7y agoI think it would be hard to prove anything outside out of gross incompetence. If he buys a Florida home and uses it as his primary residence, he would be able to keep the house even during bankruptcy. So he could buy the $40M, declare bankruptcy on the margin loan, and then sell the house eventually as far as I understand it.
- gigatexal 7y agoBut the valuation falling so badly and his shady antics perhaps there’s a case for failing as CEO to execute one fiduciary duty? Any lawyers here on HN?
- deleted 7y ago[deleted]
- perl4ever 7y ago"If SoftBank puts in a new $5 billion at a sub-$8 billion valuation, that will bring its total investment to about $15.8 billion, or about twice WeWork’s current value. If it doesn’t get a majority of the stock for that, it should just hand WeWork founder Adam Neumann the keys to its next $100 billion Vision Fund with a note saying “you are better at this than we are, here’s a present.” " (Matt Levine on Friday)