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> It was obvious to everyone that WeWork was going to flop Always easy to say this so confidently in hindsight, but did you or anyone you know become a million
by lend000 7y ago
> It was obvious to everyone that WeWork was going to flop
Always easy to say this so confidently in hindsight, but did you or anyone you know become a millionaire shorting WeWork after it went public?
Wag, I get. But I was bullish on the idea of WeWork and the model until the founder's corruption and mismanagement started getting major attention.
- zhoujianfu 7y ago(Un)fortunately WeWork didn’t go public!
- tozeur 7y agoPrecisely. Hindsight is very 20/20. Although about 5 years ago I visited their office as a student and was quite curious to hear they had a multi billion dollar valuation and only a handful of office spaces...
- ineedasername 7y agoYou can't short a company that never went public. I think there were enough skeptics though that would have raked in a few million when it's valuation dropped from $40+ Billion to wherever it's at now. Of course now everyone claims to have seen it for what it was from the start.
- intuitionist 7y agoSomeone—not me, probably not you, but someone—could have made money buying credit default swaps on WeWork debt.
- ineedasername 7y agoDefinitely not me. WeWork was barely on my radar as a thing until the last exorbitant round of funding, to which my reaction was, "seems high, but I don't know much about their market competition or growth prospects." Though it took very little time at all after that for it to look sketchy: CEO paying himself to sell his work product, as CEO, back to the company was a bit of a sign that mass value extraction and/or strip mining was taking place.
- dantheman 7y agoWeWork never went public, they failed at their IPO that's when everything unwinded.