Re:SoftBank expects $24B in losses from Vision Fund, WeWork ...
by ineedasername on Tuesday April 14, 2020 @10:38PM
(#22873900)
You can't short a company that never went public. I think there were enough skeptics though that would have raked in a few million when it's valuation dropped from $40+ Billion to wherever it's at now.
Of course now everyone claims to have seen it for what it was from the start.
Re:SoftBank expects $24B in losses from Vision Fund, WeWork ...
by intuitionist on Tuesday April 14, 2020 @11:18PM
(#22874139)
Someone—not me, probably not you, but someone—could have made money buying credit default swaps on WeWork debt.
Re:SoftBank expects $24B in losses from Vision Fund, WeWork ...
by ineedasername on Wednesday April 15, 2020 @06:32PM
(#22883895)
Definitely not me. WeWork was barely on my radar as a thing until the last exorbitant round of funding, to which my reaction was, "seems high, but I don't know much about their market competition or growth prospects." Though it took very little time at all after that for it to look sketchy: CEO paying himself to sell his work product, as CEO, back to the company was a bit of a sign that mass value extraction and/or strip mining was taking place.
Re:SoftBank expects $24B in losses from Vision Fund, WeWork ...
by tozeur on Tuesday April 14, 2020 @10:15PM
(#22873761)
Precisely. Hindsight is very 20/20. Although about 5 years ago I visited their office as a student and was quite curious to hear they had a multi billion dollar valuation and only a handful of office spaces...
Re:SoftBank expects $24B in losses from Vision Fund, WeWork ...
by zhoujianfu on Tuesday April 14, 2020 @10:12PM
(#22873742)
(Un)fortunately WeWork didn’t go public!
Always easy to say this so confidently in hindsight, but did you or anyone you know become a millionaire shorting WeWork after it went public?
Wag, I get. But I was bullish on the idea of WeWork and the model until the founder's corruption and mismanagement started getting major attention.