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I was in a WeWork in London on the day of the original Softbank-induced meltdown 4 years ago. It was surreal to be in a building that you weren't sure still ope
by nameless912 3y ago
I was in a WeWork in London on the day of the original Softbank-induced meltdown 4 years ago. It was surreal to be in a building that you weren't sure still operated as a business, with employees who were unsure if they were in fact still employed. We were all taking bets on how many days it would take for us to be kicked out of the office, and our company immediately found us a hotel conference suite to rent while the office situation was sorted out. Of course, we were never evicted and WeWork somehow survived, but it was weird.
- logifail 3y ago> I was in a WeWork in London on the day of the original Softbank-induced meltdown 4 years ago Should we really blame Softbank for the meltdown? We can certainly blame them for believing Adam Neumann and investing to start with, but not for admitting their failure after the IPO mess.
- nameless912 3y agoI think the meltdown would have been less dramatic had it not been for softbank inflating their valuation to gargantuan size for basically no reason.
- sparrc 3y agoyes, a bank's job is to do due diligence, not to blindly believe anything a startup founder says without reading any of their bookkeeping.
- chasd00 3y agoI was at a company that had a pretty firm verbal commitment on a multi-million dollar software project with WeWork. When the meltdown happened our CEO got a call that the project was cancelled, the whole team we were working with at WeWork was getting let go and the guy on the call was getting let go as soon as he hung up. heh, it was pretty abrupt.