Evidence we are not in a bubble and that markets are mostly sane currently.
Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
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Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#12We must be pretty important for Softbank as a signal - even if they didn't believe in the company, allowing such a major investment take such a big hit would be rather bad. Worth them pouring a few $bn more in instead of an IPO, if only to shore up faith in the rest of their portfolio? All that being said, someone needs to be mentoring the CEO, like right now. That S1 was... not... great.
Not a fan of "Community adjusted" EBITDA I take it?
They win my respect for their confidence in trying, but they don't win my money!
Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#13So is this company's business just selling baseless promises to investors? If yes, how did they bootstrap this?
Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#14It’s been quite hilarious for me watching this saga unfold. All I needed to hear was that this man literally took out loans from WeWork and used the proceeds of the loans to purchase real estate that he then leased back to WeWork. Lol!
Genuine question: is that legal? That seems incredibly shady.
Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#15Buying that stock would be akin to donating to a "Help Adam Neumann Buy Real Estate" GoFundMe campaign.
WeFunder
Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#16It’s been quite hilarious for me watching this saga unfold. All I needed to hear was that this man literally took out loans from WeWork and used the proceeds of the loans to purchase real estate that he then leased back to WeWork. Lol!
Genuine question: is that legal? That seems incredibly shady.
It depends on what you mean by legal. It seems like fraud to me. However a prosecutor would have it charge him and win in court to get a conviction.
Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#17I know most HN readers look down upon the site, but I really like Zero Hedge's take on this.
https://www.zerohedge.com/news/2019-09-09/2-letters-20-billi...
> Super-voting stock – Zuck did that and it worked out in the end
> Accelerating losses – Look at all that revenue growth
> Zero possibility of profits – Hasn’t mattered for years
> Convoluted insider dealings on property leases – Property GPs always double dip somehow
> Sold the pronoun “WE” to the company – That man is a crook!!
Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#18I think at this point it would be surprising if there was GOOD news about We! It just seems to be one thing after another.
Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO
#19Tangential, but does anyone else find techcrunch UX absolutely dreadful on desktop?