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Someone—not me, probably not you, but someone—could have made money buying credit default swaps on WeWork debt.
by intuitionist 7y ago
Someone—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.