3 ms·
WeWork Saga Cost Masayoshi Son $11.5B and His Credibility
- hindsightbias 3y agoHe can always go into politics.
- pauldenton 3y agoSoftBank already has all the political influence it needs in the LDP
- helsinkiandrew 3y agohttps://archive.ph/hxcJ9 https://archive.ph/hxcJ9
- controversial97 3y agoHe also paid $300 million for a minority share of a website for finding someone to walk your dog and invested $375 million in a company that failed to make robots that can make pizza. It was not just WeWork that set his reputation as an investor.
- helsinkiandrew 3y agoThe dog walking website story is remarkable. They only wanted $75M and bought back Softbanks shares a year and a half later at a discounted valuation - effectively getting the $75M for free. https://www.bloomberg.com/opinion/articles/2019-12-10/the-dogs-ate-softbank-s-money https://www.bloomberg.com/opinion/articles/2019-12-10/the-do...
- NickC25 3y agoSon's credibility went out the window when he kept Adam Neumann on board after it was blatantly obvious how much of a grifter the guy was (paid him a billion to walk away, but kept him on as a consultant to the tune of $45 million a year). It was also completely shot when he (Son) decided that WeWork was tech. Anecdotally, I used to work with someone who was an early employee at WeWork and lived pretty lavishly (and made no efforts to hide it) based on how much WeWork stock she had vested and sold. Wonder what she's up to now.