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And most importantly, fail upward. The fact that this legendary con man has ultimately suffered no consequences for his actions demonstrates how the market is
by kibwen 3y ago
And most importantly, fail upward.
The fact that this legendary con man has ultimately suffered no consequences for his actions demonstrates how the market is fatally irrational.
- boeingUH60 3y agoThe VCs backing him are in on the con to. They want to pump and dump their stake on the real market. SoftBank was the real con person in the WeWork saga…Neumann just left them holding the bag, and they couldn’t successfully dump it on retail investors or sell it to a greater fool. The reason VCs continue to back people like Neumann is they have succeeded many times (e.g, Uber, Postmates, Lyft, Chamath Palihapitiya’s SPACs, etc.).
- bombcar 3y agoVCs see WeWork as a massive success, and blame SoftBank from not exiting correctly. They know they would do better.
- fuzzfactor 3y agoCharlatans gonna charlatate.
- panick21_ 3y agoThe economic concept of market rationality was never that the market is always rational in all cases, but that overall people make rational choice on avg.