SoftBank Backs Away from Part of Planned WeWork Bailout
11–20 of 65 posts
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#12Good. Let that PoS burn.
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#13> The development won’t affect the $5 billion lifeline SoftBank agreed to give WeWork directly—cash the startup badly needed then as it ran out of runway, and which it is likely to continue to need as the worsening coronavirus outbreak empties out its desks.
Some of that money, including $1.5 billion in fresh equity, already has been invested.
Still extending and pretending?
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#14but it's too big to fail
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#15> A notice sent to WeWork shareholders Tuesday said that SoftBank believes regulatory probes into the startup’s business [...] give it an out under the deal struck last fall to purchase $3 billion of WeWork shares from existing investors. > That will include Adam Neumann, former chief executive of WeWork parent We Co., who had the right to sell up to $970 million in stock as part of the October deal that led to his o…
Cool get out of jail free card for nuking Neumann’s parachute. Whomever put that idea forward earned their fee.
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#16Good. Let that PoS burn.
Forgive my ignorance, but why is WeWork a PoS? I don't have much awareness on the situation.
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#17Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#18> A notice sent to WeWork shareholders Tuesday said that SoftBank believes regulatory probes into the startup’s business [...] give it an out under the deal struck last fall to purchase $3 billion of WeWork shares from existing investors. > That will include Adam Neumann, former chief executive of WeWork parent We Co., who had the right to sell up to $970 million in stock as part of the October deal that led to his o…
I'm having a hard time following these two paragraphs. Is it saying that SoftBank invested $3 billion into WeWork which, among other things, funded Neumann's $970 million exit? And they now think they can recover that $3 billion and then deprive Neumann of at least some of that $970 million?
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#19"The development won’t affect the $5 billion lifeline SoftBank agreed to give WeWork directly—cash the startup badly needed then as it ran out of runway, and which it is likely to continue to need as the worsening coronavirus outbreak empties out its desks." Er, yes. WeWork is dead until there is a COVID-19 vaccine. Tightly packing random people is out for now.
Largest corporate tenant in New York City.
We are just starting to see the first wave of this crash.
Re: SoftBank Backs Away from Part of Planned WeWork Bailout
#20Earlier quoted context omitted.
Forgive my ignorance, but why is WeWork a PoS? I don't have much awareness on the situation.
Ponzi scheme that took advantage of SoftBank, who is further attempting to prop it up to recoup something other than 0 from the investment.
> took advantage of SoftBank
Citation needed? SoftBank isn't some mom&pop shop that cant afford a lawyer to do due diligence.