Re:WeWork Goes Bankrupt, Capping Co-Working Company's Downfall
by peyton on Monday November 06, 2023 @11:11PM
(#38173163)
It’s not self dealing if you really love the building I guess. To be fair it was a matter of time before somebody loaded them up with debt and wiped equity. Might as well do it yourself.
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Re:WeWork Goes Bankrupt, Capping Co-Working Company's Downfall
by JumpCrisscross on Tuesday November 07, 2023 @12:25AM
(#38173596)
> It’s not self dealing if you really love the building
It’s not self dealing if everyone is on the same page. Neumann didn’t hide any of this. From SoftBank. From the public.
Re:WeWork Goes Bankrupt, Capping Co-Working Company's Downfall
by gizmo on Tuesday November 07, 2023 @06:21AM
(#38175549)
If a company tanks right after being listed on the public markets -- that is, right after insiders got an opportunity to dump their shares on less informed investors -- most likely a serious financial crime has taken place. A real business doesn't go from a 47bn market cap to zero in ~2 years. It's not sufficient to make generic disclosures to investors that there are substantial risks and that you have an unproven business model and such. If it looks, talks, and walks like a pump & dump scheme it probably is.