4 ms·

It’s odd, but he convinced Vision Fund to go along with this. It’s a clever grift, if it’s legal.

• junofan 3y ago
  It’s not self dealing if you really love the building I guess. To be fair it was a matter of time before somebody loaded them up with debt and wiped equity. Might as well do it yourself.
  • JumpCrisscross 3y ago
    > It’s not self dealing if you really love the building It’s not self dealing if everyone is on the same page. Neumann didn’t hide any of this. From SoftBank. From the public.
    • gizmo 3y ago
      If a company tanks right after being listed on the public markets -- that is, right after insiders got an opportunity to dump their shares on less informed investors -- most likely a serious financial crime has taken place. A real business doesn't go from a 47bn market cap to zero in ~2 years. It's not sufficient to make generic disclosures to investors that there are substantial risks and that you have an unproven business model and such. If it looks, talks, and walks like a pump & dump scheme it probably is.
    • kawhah 3y ago
      It's totally still self dealing. It just avoids being fraud.