Pure money stuff. He has said if you think something is over valued, short it. If you think the VC startup industry is overvalued the best way to do that is to start (and sell to VC) a startup. Enter adam neumann.

No, shorting is different; it's borrowing something you might not be able to pay back.

WeWork was signing leases - borrowing real estate. They went bankrupt from not being able to pay for it. This isn't the same as selling shares to VC's. Equity isn't debt.

Yes, his point in the newsletter is that if you want to short something you can’t borrow, then you should (cynically) make more of it.

Okay, I remember that. But I think this could more simply be seen as becoming a supplier, responding to temporary demand. This could be done well or fraudulently.

Somewhere between honest supplier and fraud is the land of wework…

If you think LLMs are overhyped, you likely expect a bubble burst when the "Emperor has no clothes!" moment happens - so it's rational to avoid the risk of being stuck holding the bag when that happens.

But with zirp you just borrow someone else's money to start the business and reap all the profits while the lenders suffer the losses! :-)

This could happen at any interest rate, or without borrowing at all, by selling stock instead. We might be seeing a bubble now?