51–60 of 551 posts
You've got to wonder what kind of a person is it that can get so far in building a successful behemoth like this but at the same time is able to seriously put forward ideas like becoming President of the world or asking management to cut 20% of the workforce yearly
Narcissistic sociopath - a perfect start-up CEO.
This is some dense shit. I can't imagine how working for WeWork feels like, right now. I have worked for companies where all the employees were eagerly waiting for the day the company will go public. It was seen as a pivotal moment both financially and professionally. In any rational world that's a landmark moment. A significant milestone for founders, investors and early employees. For WeWork it has been the complet…
WeWork has been an obvious fuckup to even casual observers for years, if people inside the company couldn't see this I really don't know what to say.
Well, corporate governance was one of the main factors why the market refused to accept anything close to their last private valuation, so this makes sense. Note that they desperately need the public money before the end of December in order to avoid running out of cash [0]. My bet is that they will now try to remarket We as a shareholder-controlled company, will maybe even eliminate the multi-class stock structure i…
Given a choice, would founder/CEOs with big personalities prefer being powerful or rich?
Given that you can't really have power without being rich, I question the assertion that this is a choice :)
Many generals of the US army are not "rich".
I suspect there are some cabinet positions that don't pay a lot, but offer a lot of power...
Earlier quoted context omitted.
I just don't see them wrestling control away from the deranged, cult leader. He truly believes he is destined to be president of the world and revolutionize.. well every thing. There best bet would be to drop the multi-class structure to get into passive funds. It needs $8.1b market cap to get into S&P500.
It also needs to be ebita profitable for 8 quarters in a row before its added to the index IIRC
recruiters still do that? so unethical.
Earlier quoted context omitted.
I just don't see them wrestling control away from the deranged, cult leader. He truly believes he is destined to be president of the world and revolutionize.. well every thing. There best bet would be to drop the multi-class structure to get into passive funds. It needs $8.1b market cap to get into S&P500.
Is this part of the business model of these large, unprofitable VC-backed companies? Build a valuation to meet the 8.1bn threshold, then sell the shares to passive investors in S&P 500 index funds?
Earlier quoted context omitted.
I wonder if there is some lingering idea inside their own head that what they're doing is nonsense ... so more nonsense seems pretty logical.
Yeah my curiosity is how one can get so many things right when the same logical processes can spit out completely bonkers ideas at the same time. Is it insane luck that they hit the mark so often?
No, its money.
All these "tech unicorns" backed by VC money are the same.
Spend Billions to obtain "growth metrics" until such time as the spending can no longer be maintained and you have grown your "valuation" to a point no VC/private investor will save your ass, then dump the company on the public.
The marketing doesn't even change just the company, "at any time we can turn off the spending and growth, and make pure profit."
You've got to wonder what kind of a person is it that can get so far in building a successful behemoth like this but at the same time is able to seriously put forward ideas like becoming President of the world or asking management to cut 20% of the workforce yearly
>it says a lot that when confronted with an objectively dumb rich dude like trump (no working memory, can't apply grammar consistently, childish vocabulary, shallow concepts) people will choose to believe he's secretly smart rather than that wealth isn't a result of intellect
Trade Trump's name for Adam Neumann and I think you have the answer to your question.