WeWork Accepts SoftBank Takeover Offer

Post by [deleted] » Tue, Oct 22, 2019, 5:43 PM UTC

nostromo wrote: post #27

Barrin92 wrote: post #19

Earlier quoted context omitted.

>He created a very valuable company, worth billions of dollars he created something that may very well lose its investors billions of dollars without ever turning a dime of profit. What the company is evaluated as on paper by people increasingly disconnected from reality isn't really meaningful. I'm not really sure what the market function or social function is of rewarding people with billions of dollars who create…

Perhaps I'm just not seeing any real victims here. Softbank and the Saudis wanted to roll the dice on some overpriced unicorns. They went into the deal with eyes open. And it looks like they're taking a massive haircut. Play stupid games... I do feel sorry for some WeWork employees that will lose their jobs. But, again, many of them joined hoping to get some upside when the company went public -- which was a gamble t…

Post by [deleted] » Tue, Oct 22, 2019, 5:44 PM UTC

nostromo wrote: post #14

I'm confused as to why this is so terrible. He created a very valuable company, worth billions of dollars. It makes sense that he should capture some large fraction of that wealth. Yes, some people will lose their jobs. But it's worth noting that those jobs wouldn't have existed in the first place if he hadn't started the company. His mismanagement has cost him and Softbank billions, which is appropriate as well. I s…

Post by [deleted] » Tue, Oct 22, 2019, 5:45 PM UTC

nostromo wrote: post #27

Barrin92 wrote: post #19

Earlier quoted context omitted.

>He created a very valuable company, worth billions of dollars he created something that may very well lose its investors billions of dollars without ever turning a dime of profit. What the company is evaluated as on paper by people increasingly disconnected from reality isn't really meaningful. I'm not really sure what the market function or social function is of rewarding people with billions of dollars who create…

Perhaps I'm just not seeing any real victims here. Softbank and the Saudis wanted to roll the dice on some overpriced unicorns. They went into the deal with eyes open. And it looks like they're taking a massive haircut. Play stupid games... I do feel sorry for some WeWork employees that will lose their jobs. But, again, many of them joined hoping to get some upside when the company went public -- which was a gamble t…

Post by untog » Tue, Oct 22, 2019, 5:51 PM UTC

dang wrote: post #54

untog wrote: post #10

Earlier quoted context omitted.

[removed]

Would you please stop posting unsubstantive, ranty comments to HN? It isn't that you owe dysfunctional companies or dislikeable billionaires any better. But you owe this community better if you want to keep posting here. There are lots of places on the internet to vent rage. There are not as many to gratify intellectual curiosity. These two things are incompatible. Here we want intellectual curiosity. If you wouldn't…

Post by smeyer » Tue, Oct 22, 2019, 6:05 PM UTC

filmgirlcw wrote: post #56

nostromo wrote: post #27

Earlier quoted context omitted.

Perhaps I'm just not seeing any real victims here. Softbank and the Saudis wanted to roll the dice on some overpriced unicorns. They went into the deal with eyes open. And it looks like they're taking a massive haircut. Play stupid games... I do feel sorry for some WeWork employees that will lose their jobs. But, again, many of them joined hoping to get some upside when the company went public -- which was a gamble t…

Dude, come on. They have 15,000 employees. Most of them are going to lose their jobs. Those are the victims. I agree I don’t weep for Soft Bank or the Saudis, but plenty of people took jobs not just on the promise of IPO riches. And laying off a company of WeWork and its subsidiaries size is more than just a handful of people entering the job market — a market that isn’t as good in every city, which is something to c…