‘We were sold off’: WeWork’s staff face uncertain future as company collapses
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Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#2The guy is getting $1.7bn.
That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000.
Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year.
This is what late stage capitalism looks like.
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#3The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
My guess is that it was a forced buyout? The terms of which are always painful for the forcers.
As far as the employees go, anyone working for a company clearly not making any money needs to move along. Whatever consequences you suffer are at your own risk.
And as far as what this might look like under socialism, the government would take money from people who have nothing to do with any of it and give it to all of the people involved in order to maintain an organization that nobody wants to do business with.
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#4The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
My guess is that it was a forced buyout? The terms of which are always painful for the forcers. As far as the employees go, anyone working for a company clearly not making any money needs to move along. Whatever consequences you suffer are at your own risk. And as far as what this might look like under socialism, the government would take money from people who have nothing to do with any of it and give it to all of t…
on the one hand, yes: folks worked for a company that lost money. So some of this is on them. However, I strongly suspect that the risk was not in any way clearly communicated to them. And you're ignoring the fact that they clearly have the resources to pay the founder another $600m or so.
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#5The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
My guess is that it was a forced buyout? The terms of which are always painful for the forcers. As far as the employees go, anyone working for a company clearly not making any money needs to move along. Whatever consequences you suffer are at your own risk. And as far as what this might look like under socialism, the government would take money from people who have nothing to do with any of it and give it to all of t…
> And as far as what this might look like under socialism,
“Late stage capitalism” and “socialism” is a false dilemma. We can see the known, evil effects of late-stage capitalism, and it is appropriate to pin the blame on the systems which encourage this behavior even while acknowledging the benefits of those systems and while holding accountable actors within these systems.
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#6The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
Completely agree. I don't know why you are getting downvoted, capitalism in its present form is clearly broken. The payout sum here is ludicrous, it is certainly not justified in terms of value created for society. This money has to come from somewhere and ultimately the common folk will be paying the price.
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#7The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
Turns out the neoliberal startup crowd who downvoted you doesn't want people calling out this glaring problem.
Edit: ah, here they are to come downvote me
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#8The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
My guess is that it was a forced buyout? The terms of which are always painful for the forcers. As far as the employees go, anyone working for a company clearly not making any money needs to move along. Whatever consequences you suffer are at your own risk. And as far as what this might look like under socialism, the government would take money from people who have nothing to do with any of it and give it to all of t…
This really has nothing to do with socialism.
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#9Adam Neumann jacked $10B in funding from dumb, rich, foreign investors (SoftBank). Over 80% of that money was pumped into salaries and domestic real-estate deals.
Why are people mad about this? Dude is a modern Robin Hood -- a national hero. Let him keep the $1.7B change.
Re: ‘We were sold off’: WeWork’s staff face uncertain future as company collapses
#10The guy is getting $1.7bn. That is gluttonous. To put that into perspective, if you took even just $100m and divided it among the 1,000 workers laid off each one would get $100,000. Yet they get nothing. And this one man gets $1.7bn from a company that isn't even healthy enough to survive while nickle and diming janitors who get paid $24k/year. This is what late stage capitalism looks like.
I am a Capitalist but I approve this message. There has to be a sense of morality somewhere even when running a company. I truly believe that a company can make great profits while taking care of its people. I also believe that it is ok for the initial risk takers like founders/CEO to make a hell lot more money BUT not by destroying other people's lives.
I don't think any private company should have any interference by the Govt. BUT every founder/owner/CEO should think about their people first. Is this even possible ? I really hope so. "Moral Capitalism" anyone ?
Disclaimer: I run a small private company of 12 of us and I struggle with this everyday.