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This isn't a failure of capitalism, its just due to blind optimism and lack of governance with people falling under the spell of a charismatic CEO imho. If it h
by chadcmulligan 7y ago
This isn't a failure of capitalism, its just due to blind optimism and lack of governance with people falling under the spell of a charismatic CEO imho. If it had worked, everyone would be saying this guys a genius.
I looked at WeWork at one stage for an office, the prices seemed crazy, I didn't understand how any one was using it, you've been able to get serviced offices for years for way cheaper. He did OK though, he gets out with a bag of cash and leaves someone else carrying the debt.
- Pfhreak 7y agoYou aren't asking "why" enough. It's not just a bad actor... Why was it possible for him to do what he did? Why was he allowed to personally succeed and leave others the debt?
- chadcmulligan 7y agogreed, and a lack of oversight? I'm no fan of capitalism, it has many flaws. I'm not upset at VC's losing money though, thats the risk they take, it's a high stakes game, thats why the IPO failed, there are more rules for a listed company. The only alternative I can see is to regulate who can invest their money in what, I can't see that working, unless I'm missing something. There is a failure for the employees, but everyone knows, or should know they're rolling the dice working for a startup, as others have said shares are lottery tickets, and the system is stacked against you as an employee ever making money.