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> $1 billion parachute and public investors never got burned. An unironical hero. Taking a rich, corrupt, murderous regime for billions and providing thousands
by rapsey 7y ago
> $1 billion parachute and public investors never got burned.
An unironical hero. Taking a rich, corrupt, murderous regime for billions and providing thousands of jobs. He is taking a whole lot of flak for doing a whole lot of good in the end.
- josefrichter 7y agoThat's an interesting point of view. Just not sure that everybody on the losing side was rich and complicit in corrupt murderous regime - could have been tiny investors like you and me who put some savings into mutual funds or something.
- rapsey 7y agoWeWork crashed and burned before IPOing. Private investors got burned (i.e. SoftBank vision fund).
- eru 7y agoLots of tiny investors got burned: employees who took stock options. (You might say that they knew what they were getting into. Startup stock options are risky. But you can't deny all sympathy to those working stiffs.)
- lucideer 7y agoNot sure in what world 2400 layoffs without redundancy counts as “job creation”, with the remainder having little to no job security in a company losing 5k on each new customer. Trying to work out the leaps of logic: I guess you're assuming all WeWork employees were unemployable before starting there, and that all other potential beneficiaries of Softbank investment would invariably have been zero-employee operations...?
- rapsey 7y agoI have no idea where you're getting these assumptions from. Laid off WeWork employees were probably employed someplace before working there and will likely work someplace else after WeWork. All employment is temporary. They still extracted billions. Some got more then others. Most just got a job for X years. Likely well paid. How is that anything other than a benefit?