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WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

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Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#61

Post by jscotto »

WisNorCan wrote: post #34
indemnity wrote: post #32

Earlier quoted context omitted.

Every time I see these shenanigans it validates my position of turning options into cash if I’m above water ASAP, and getting as much of my raises into base salary as possible. Twice burned (2001, 2009)...

I completely agree. I recommend selling along the way. You may lose some upside, but you definitely lose some downside. Unfortunately, WeWork employees aren’t given that choice. They are getting fired with underwater options while Adam makes billions. I wonder how he can rationalize this to himself.

Why would he need to rationalize this to himself? He just made over a billion dollars.

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#62

Post by somebodythere »

w-j-w wrote: post #11
Aeolun wrote: post #4

I don’t think anyone is to blame here except the people that gave him money in the first place.

You honestly can't think of anyone else who is responsible? How is WeWork not fraud? How was it legal for Neumann to take all of that money?

What is fraudulent about WeWork?

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#63

Post by dehrmann »

anm89 wrote: post #41

This redefines failing upward. The lunacy of this is astounding.

Not really. WeWork had $12.8B in funding. Now they're valued at $8B. They'll be valued at a lot less if they go bankrupt, so if Softbank can stabilize the company, they can cap their losses. Risk is also baked into that valuation, so if Softbank fixes things, they'll come out ahead.

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#64

Post by dehrmann »

empath75 wrote: post #25

I have to ask when are the investors in softbank or the vision fund going to question this bail out? I’d be furious if it were my money being flushed down the toilet this way.

> I’d be furious if it were my money being flushed down the toilet this way

You'd make a bad Saudi prince.

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#65

Post by Aeolun »

w-j-w wrote: post #11
Aeolun wrote: post #4

I don’t think anyone is to blame here except the people that gave him money in the first place.

You honestly can't think of anyone else who is responsible? How is WeWork not fraud? How was it legal for Neumann to take all of that money?

If I sell you a bottle of air for $20, is that fraud?

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#66

Post by georgeecollins »

robk wrote: post #56
indemnity wrote: post #32

Earlier quoted context omitted.

Every time I see these shenanigans it validates my position of turning options into cash if I’m above water ASAP, and getting as much of my raises into base salary as possible. Twice burned (2001, 2009)...

Meh I regret selling any GOOG in the low $200s

You shouldn’t. You need to sell some of the options of the company you work for to diversify. If you think you are smart enough to know the future of stock prices than you should trade stock for a living.

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#68

Post by georgeecollins »

rdlecler1 wrote: post #48
mrkurt wrote: post #7

Earlier quoted context omitted.

Plus, you know, Adam Neumann for being a big sketchball.

VCs are supposed to diligence that. They fail they loose.

“It takes two bad drivers to make an accident.“ F Scott Fitzgerald

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#69

Post by solveit »

robk wrote: post #56
indemnity wrote: post #32

Earlier quoted context omitted.

Every time I see these shenanigans it validates my position of turning options into cash if I’m above water ASAP, and getting as much of my raises into base salary as possible. Twice burned (2001, 2009)...

Meh I regret selling any GOOG in the low $200s

It was still the right move. As every poker player knows, just because you lost doesn't mean you played the hand wrong.

Re: WeWork Needed a Bailout, But Adam Neumann Still Leaves a Billionaire

#70

Post by solveit »

lainga wrote: post #60
staticautomatic wrote: post #26

Earlier quoted context omitted.

I don't know who said that first but it certainly wasn't Matt Levine.

But the big question (for longtime readers) is: does that misattribution count as securities fraud?

Since it could potentially lead to a drop in the price of MATT, it could well be fraud if it weren't disclosed.
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