WeWork Co-Founder Has Cashed Out at Least $700M Via Sales, Loans

Re:WeWork Co-Founder Has Cashed Out at Least $700M Via Sales... by usbseeker on Thursday July 18, 2019 @05:40PM (#20474187)

Is he leasing them the properties at fair market rates? If so he might be preventing gouging by not forcing we work to bid against the rest of the market.

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Re:WeWork Co-Founder Has Cashed Out at Least $700M Via Sales... by Traster on Thursday July 18, 2019 @05:58PM (#20474313)

If it were strategically important for the company the company should have bought the properties. It's a direct conflict of interest - and one that has been serious enough that they've ended up having to build an entire corporate strategy to deal with. Also, this is not the only conflict of interest: WeWork bought part of an artificial surfing wave pool in 2016 and the only reason anyone can find to do that is the CEO likes surfing.

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Re:WeWork Co-Founder Has Cashed Out at Least $700M Via Sales... by sprafa on Thursday July 18, 2019 @07:49PM (#20475086)

If this is true then I’m increasingly surprised at how bad VC returns must be for them to think this is a good investment.

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Re:WeWork Co-Founder Has Cashed Out at Least $700M Via Sales... by maxerickson on Thursday July 18, 2019 @08:30PM (#20475279)

It's perhaps the other way around. VC returns are so good that they can make lots of mistakes.

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Re:WeWork Co-Founder Has Cashed Out at Least $700M Via Sales... by rficcaglia on Friday July 19, 2019 @12:53AM (#20476267)

No it’s not: “achieved an overall return of 11.1% for the year.” https://globenewswire.com/news-release/2018/10/15/1621269/0/...

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