Re:SoftBank to Take Control of WeWork: Sources
by jbob2000 on Monday October 21, 2019 @05:29PM
(#21317636)
Neumann is definitely unconventional, but I don’t see how being a bit eccentric can lead to this. I’d put Musk and Thiel in the “weirdo techies” group along with Neumann, and both of their businesses are thriving.
SoftBank was just running a pump’n’dump; Pump up the company for an IPO, dump it on the market to realize the losses. Luckily, people are starting to catch on to these schemes from tech companies.
What I’m wondering is, what would we see if we analyzed Snapchat or Twitter with the same lense? Snapchat is basically dead now, yet it IPO’d at $24 billion. Once Trump is done, Twitter will die down too, and everyone will be left wondering, is this thing really worth $31 billion?
Re:SoftBank to Take Control of WeWork: Sources
by gregoriol on Monday October 21, 2019 @06:27PM
(#21318213)
WeWork is not a tech company, merely a Silicon Valley company.
Twitter and Snapchat value doesn't come from their tech, but from their user base.
When you know those differences, you indeed might be better at picking horses.
> Fallout from the controversies and subsequent plummet in value has led to a tense relationship between former Neumann and SoftBank's [Masayoshi] Son, who has invested billions into the start-up. Neumann stepped down last month. It was also reported that SoftBank has readied a financing package to take control of the company and further sideline Neumann, who is also a co-founder."
Sounds like SoftBank's interested in eradicating references to Neumann.
Should Neumann be the focus of why WeWork faired so poorly? Or is he just the fall guy? I don't know, so if someone could enlighten me that would be great.