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Because he literally controls everything, from http://nymag.com/intelligencer/2019/09/what-happened-at-we-why-wework-postponed-its-ipo.html http://nymag.com/int
by kasperni 7y ago
Because he literally controls everything, from 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...
"The S-1 detailed the extent to which Neumann controlled his
company, and had benefited personally from his position: he had bought buildings in which WeWork then took out leases, and received $5.9 million in exchange for selling a set of We-related trademarks to his own company. One clause called for Rebekah to name a successor in the event of Adam’s death."
Rebekah is his wife...
- semiotagonal 7y agoSure, but why didn't the Vision Fund deny him that level of control as a condition for providing the money, when the initial funding was taking place?
- untog 7y agoBecause who wants to miss out on the next Facebook!! Zuckerberg holds huge control over FB and he's a visionary. This rocket ship is going to the moon, are you strapped in?!? TL;DR: stupidity combined with the myth of the founder
- TheSoftwareGuy 7y agoThere was an NPR podcast about the guy who runs the fund recently. He’s sort of an adrenaline addict, addicted to risk
- ulfw 7y agoBecause Vision Fund isn't this magical VC that trumps all others. They just had a lot of (Saudi) money to throw around and frankly just aren't very good at it.