WeWork’s Once Robust Cash Reserves Have Dwindled, Raising Chances of Default

Re:WeWork’s Once Robust Cash Reserves Have Dwindled, Raising... by wpietri on Friday December 16, 2022 @02:52PM (#34019365)

I agree that he's not admirable, but I too am impressed by his incredible skill. Lots of people are amoral, greedy liars. But this guy was world class. It's sort of the same way I feel about toxoplasmosis or zombie ants [1]: I want to stay as far away as possible, but if I set aside my revulsion, it's fascinating. Especially in the way that it tells us about vulnerabilities that we might not otherwise spot.

[1] Which are a real thing! Caused by a fungus: https://www.cell.com/current-biology/pdf/S0960-9822(18)31602...

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Re:WeWork’s Once Robust Cash Reserves Have Dwindled, Raising... by rchaud on Friday December 16, 2022 @04:07PM (#34020398)

I wouldn't give him that much credit. The last few years have shown us that when it comes to governance, anything that isn't legally locked down is fully in play. Too much seems to still be dependent on the honour system in a world that incentivizes not doing the right thing.

You never expect a CEO to personally buy PPE (Plant, Production Equipment) and lease it back to his employer. But hey, if it's not against the rules, and the board is stacked in your favour, why not?

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