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For Neumann this whole thing must be such a nightmare. On one hand you did it. You built a huge company and become super rich at the end. But on the other hand

by brentm 7y ago

For Neumann this whole thing must be such a nightmare. On one hand you did it. You built a huge company and become super rich at the end. But on the other hand the IPO blew up, the company is losing billions, employee options are fucked, "everyone" thinks you're an idiot, etc. If it was me this would ruin it all, especially since he has been living the rich guy lifestyle for many years now. I hope he didn't do anything more shady than we know though because the next saga to this story could easily be securities fraud, indictments, investor lawsuits, etc, etc. This amount of capital doesn't usually blow up quietly.

otterley 7y ago
Man, I hope to be “ruined” to the tune of $200 million someday. I would cry all the way to the bank.
- meddlepal 7y ago
  $900 if you include the $700 he gave himself.
  - brentm 7y ago
    A majority of that 700M was a line of credit tied to his shares of the company. Good chance he will face a margin call on that (since the shares are now worth a lot less) and either have to come up with the cash (maybe why he wants this 200M to leave) or pledge more shares to make up the difference in value.
- fastball 7y ago
  He has already cashed out hundreds of millions, so it's probably closer to being ruined to the tune of $1B.
- deleted 7y ago
  [deleted]
rolltiide 7y ago
He cashed out close to $1 billion while he had absolute discretion to do so. He’s winning hard. Don’t get married to a position, and that means concentrated shareholdings of a company you started too. Its not a nightmare. There’s no embezzlement charge looming based on the things we know, no securities fraud based on the things we know. Softbank wants to turn it into a typical Japanese Zombie company with “totally fuckable sovereign wealth money” quoting the show Succession, and he’s out with no strings attached. Thats the dream. NEXT!
ulfw 7y ago
Yea. Hm. Somehow I don't feel sorry for him for one nanosecond. I do feel sorry for the thousands of employees who bought into his bullshit and whose options are now worthless.

by brentm 7y ago

otterley 7y ago

Man, I hope to be “ruined” to the tune of $200 million someday. I would cry all the way to the bank.

meddlepal 7y ago
$900 if you include the $700 he gave himself.
- brentm 7y ago
  A majority of that 700M was a line of credit tied to his shares of the company. Good chance he will face a margin call on that (since the shares are now worth a lot less) and either have to come up with the cash (maybe why he wants this 200M to leave) or pledge more shares to make up the difference in value.
fastball 7y ago
He has already cashed out hundreds of millions, so it's probably closer to being ruined to the tune of $1B.
deleted 7y ago
[deleted]

rolltiide 7y ago

He cashed out close to $1 billion while he had absolute discretion to do so. He’s winning hard. Don’t get married to a position, and that means concentrated shareholdings of a company you started too. Its not a nightmare. There’s no embezzlement charge looming based on the things we know, no securities fraud based on the things we know. Softbank wants to turn it into a typical Japanese Zombie company with “totally fuckable sovereign wealth money” quoting the show Succession, and he’s out with no strings attached. Thats the dream. NEXT!

ulfw 7y ago

Yea. Hm. Somehow I don't feel sorry for him for one nanosecond. I do feel sorry for the thousands of employees who bought into his bullshit and whose options are now worthless.