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WeWork seems like it should be a buyout target either by a hotel chain or a restaurant chain (Starbucks?) since the basic model is "more permanent and slightly
by parvenu74 7y ago
WeWork seems like it should be a buyout target either by a hotel chain or a restaurant chain (Starbucks?) since the basic model is "more permanent and slightly more private than a coffee shop"...
- goatinaboat 7y agoNo one other than SoftBank believes it is even worth $8Bn. After it goes bankrupt someone might buy it in a fire sale. Probably next year. It’s not clear why the Graun is so upset however. Not a penny of public nor pension fund money was burnt in this. Just the Saudis and a few other billionaires.
- scrumper 7y agoThey're annoyed because of Adam Neumann's golden parachute. If he'd have been kicked out with nothing except the obligation to pay interest on that personal loan to JPMorgan, the article might have come out differently.
- goatinaboat 7y agoHe bamboozled the Saudis sure, but it’s not as if he actually managed to rip off retail investors, as was his intent.
- chrisjc 7y agoBamboozled the first time perhaps. It seems they wouldn't let it happen a second time, hence Softbank's (not Vision) infusion of cash.
- goatinaboat 7y agoI’m not sure I’d want to bamboozle a man nicknamed Bonesaw even once
- skinnymuch 7y agoThe Saudis and Vision Fund didn’t lose much over this. Only $3B is from Vision Fund outside Softbank.
- goatinaboat 7y agoDidn't the Vision Fund invest $10.5Bn already?
- skinnymuch 7y agoI’ll try to find which big article said it. I think it’s from WSJ or business insider if you’re interested where they were breaking down how silly and awful Vision Fund is for SoftBank. It said of the $9B already invested, only $3B is coming from Vision Fund outside Softbank Vision Fund money.