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Neumann’s track record at WeWork: Money raised - $22B Peak market cap - $47B (while private) Current market cap - $4B IPO price per share - $9.82 Current p
by Dwolb 4y ago
Neumann’s track record at WeWork:
Money raised - $22B
Peak market cap - $47B (while private)
Current market cap - $4B
IPO price per share - $9.82
Current price per share - $5.47
Looking at this data, he hasn’t proven to be an incredible operator in terms of equity returns.
He has however demonstrated an incredible ability to raise institutional funding and drive increased private valuations.
- inglor_cz 4y agoSomething similar can be said about Charles Ponzi.
- smcl 4y agoBernie Madoff was blessed with a similar gift
- lotsofpulp 4y agoCommitting fraud and being charismatic enough to convince others that they will be able to sell their investments to a bigger fool are not the same. Madoff’s numbers were fake. All of wework’s numbers were real and audited and public.
- labster 4y agoA hundred years after his great invention, Charles Ponzi is still world-renowned. If that’s not success in business, what on Earth is?
- codeflo 4y agoMaybe real life works like D&D after all, where maxing out charisma and a few lucky rolls allow you to convince anyone of anything.
- elp 4y agoAlso the early investors in WeWork did rather nicely. If you are a16z this is probably not a bad investment.