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Investors did not do due diligence (unless there was fraud, but I have not heard of that). It is therefore not surprising AN got away with it. There are several
by julienchastang 7y ago
Investors did not do due diligence (unless there was fraud, but I have not heard of that). It is therefore not surprising AN got away with it. There are several companies with the same business model as WeWork that do not have nearly the same valuation (before all the recent hullaballoo, that is). There have been a number good articles about this topic in the WSJ lately. There is no reason to compare Adam Neumann to Elizabeth Holmes at this point.
- lotsofpulp 7y ago>Investors did not do due diligence One (likely in my opinion) possibility is they did, and they were betting they could find a bigger fool.
- rchaud 7y agoAgreed, all the public statements from them were highly bullish, right up until the point where they realized the public markets weren't going to be suckered after the Uber IPO bombed.
- jotm 7y agoHey, it's the bank's fault they approved a 20K credit limit without even checking my ID. They should've done their due diligence beyond seeing the credit score /s
- lotsofpulp 7y agoYour statement doesn't make sense to me. If you're claiming that this WeWork situation is similar to someone fraudulently obtaining $20,000 by claiming they are someone else, I have to disagree because there has been no misrepresentations in the WeWork saga that I am aware of.
- jotm 7y agoOh no, there was no identity theft. Just a jobless man cashing in on his credit score.
- lotsofpulp 7y agoThen I don't understand how a lender that lends money using the information they requested has been wronged. Even if borrowing money without intending to pay it back is wrong, it's still not relevant to this WeWork situation, so I don't see the point.