3 ms·
WeWork has always been a shitty REIT marketed and valued as a tech company. Not surprised at its demise. The only thing I’m sad about is: Neumann is not rottin
by xyst 3y ago
WeWork has always been a shitty REIT marketed and valued as a tech company. Not surprised at its demise.
The only thing I’m sad about is: Neumann is not rotting in jail. He defrauded investors, misled people yet he was actually rewarded with a golden parachute.
Per article he is now pushing some other junk product with rental housing. Probably buying up distressed properties, applying cheap aesthetic fixes, and jacking up the prices and pushing out people from their homes.
- bombcar 3y agoIt’s not even an REIT. If they had purchased the properties instead of long term leases they might be able to transition into an REIT and slurp up real estate on the cheap. But that’s boring and not investable.