aye - however I'd imagine if Jamie Dimon wrote the S-1 it would have gone through at the original valuation. The core claim of the investors was ultimately that

aye - however I'd imagine if Jamie Dimon wrote the S-1 it would have gone through at the original valuation. The core claim of the investors was ultimately that WeWork would be the primary demand aggregator for commercial real estate - giving it extreme leverage over landlords and tenants. The second component for the claim was that WeWork would make commercial real estate business's look better on paper if they could have wework as a tenant, particularly if WeWork continued to take losses for multiple years. WeWork's business model was also somewhat unique in it's ability to handle higher interest rates in the future thanks to it's short-term leases. I can't imagine that Jamie Dimon and others couldn't have written the S-1 convincingly in 2019 when interest rates approximated 0. The problem was that the S-1 was not written for finance professionals, and made an investment in the vision appear foolish. On the other hand... Uber's was, and Uber was able to successfully IPO despite similarly dire financials.