WeWork’s Adam Neumann Steps Down as CEO

Re:WeWork’s Adam Neumann Steps Down as CEO by DebtDeflation on Tuesday September 24, 2019 @01:26PM (#21062510)

There was an article yesterday where Softbank was saying that they think they can renegotiate those LOCs to go forward even if there is no IPO this year. They might end up being a lot smaller and have worse terms for We though. I wouldn't be surprised if pushing Adam out was the first demand the banks made in that renegotiation.

Softbank wants to delay the IPO now because it would mean a massive writedown of their investment value.

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Re:WeWork’s Adam Neumann Steps Down as CEO by justincormack on Tuesday September 24, 2019 @02:13PM (#21063052)

I think it is clear they have to write it down anyway in any reasonable accounting.

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Re:WeWork’s Adam Neumann Steps Down as CEO by moltensodium on Tuesday September 24, 2019 @10:59PM (#21067182)

Adam seems to be the scapegoat, somewhat justified of course, but the bigger problem of this company being an obvious scam with no way to make money has not been addressed.

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