81–90 of 291 posts
Honestly I'm surprised there are 2400 employees who have stuck around this long, waiting for the other shoe to drop. How could they not see the obvious implosion coming? The proverbial tidal wave of ugly news has been steady for months now.
I still can't believe this guy gets to walk away with 1.7 billion dollars just for building up fluff while all the people who helped him grow have dire consequences both financial and personal. Unbelievable that this guy gets a clean chit, and all this isn't considered criminal. This to me is almost at the scale of Theranos. Only, this guy was smarter in the legal side of things, perhaps.
Well if you define a market simply as a mechanism of wealth transmission from dumb people to smarter people then I think that Adam Neumann deserves every single cent of 1.7 billion dollars.
Who defines a market with that kind of cynical, silly definition? I don't think most of us want that kind of "market". And if that's the only way to make Neumann look good, then maybe the reverse is true.
Earlier quoted context omitted.
> and have the appropriate employees for this type of business I disagree. WeWork has 836 locations and 12.5k (now 10k) employees, or ~12-15 employees per location. Regus/IWG has 3,306 locations and 9.6k employees, or ~3 employees per location. How is 4-5x the number of employees for a comparable non-tech company appropriate?
You'd have to know how the two companies split functions between employees and contractors. Though I'd not be surprised if WeWork were staffed relatively heavily. To note something random, WeWork has an (unstaffed) booth at Kubecon which suggests they do marketing activities that someone like Regus generally doesn't.
Just my guess.
I still can't believe this guy gets to walk away with 1.7 billion dollars just for building up fluff while all the people who helped him grow have dire consequences both financial and personal. Unbelievable that this guy gets a clean chit, and all this isn't considered criminal. This to me is almost at the scale of Theranos. Only, this guy was smarter in the legal side of things, perhaps.
Well if you define a market simply as a mechanism of wealth transmission from dumb people to smarter people then I think that Adam Neumann deserves every single cent of 1.7 billion dollars.
Does anyone?
I still can't believe this guy gets to walk away with 1.7 billion dollars just for building up fluff while all the people who helped him grow have dire consequences both financial and personal. Unbelievable that this guy gets a clean chit, and all this isn't considered criminal. This to me is almost at the scale of Theranos. Only, this guy was smarter in the legal side of things, perhaps.
I don’t really see why it’s his fault investors over valued his company — he believed in his own spin and was phenomenally successful at building a large, real business. This was not like Theranos where he was straight up lying about a product working — anyone could analyze the business based on the fundamentals, and investors seemed ever willing to invest at high valuations. The self dealing was reprehensible and ev…
Hell of a low bar you're setting.
Self dealing is fraudulent. It sends a message to con-artists of the future to do exactly what Neumann did for a potential big payout.
Honestly I'm surprised there are 2400 employees who have stuck around this long, waiting for the other shoe to drop. How could they not see the obvious implosion coming? The proverbial tidal wave of ugly news has been steady for months now.
Earlier quoted context omitted.
The worst part of this for people will be having WeWork on their resume.
I don't really agree with this. I despise Facebook and happily retweeted a post a few weeks ago specifically aimed at helping FB engineers find work elsewhere. I'd prefer to help good people get out of bad places. https://twitter.com/EricaJoy/status/1190701524210438144
Honestly I'm surprised there are 2400 employees who have stuck around this long, waiting for the other shoe to drop. How could they not see the obvious implosion coming? The proverbial tidal wave of ugly news has been steady for months now.
How many of those Meetup employees are sitting on, or exercised, worthless WeWork options?
Talk about no lube...
Earlier quoted context omitted.
shifting of talent I hate this new reality.
Which new reality? The one where most of the population can read and write and where most hold degrees and diplomas? This isn’t the 1900s industrialization era, where employees were picked out of the farm fields to work in factories, having never gone to school. People are smart these days, layoffs aren’t as destructive as they used to be.
Student loan debt cannot be discharged.
Unsecured personal debt is at all-time highs.
Nearly half of Americans have less than $1000 in savings.
You are wrong.
I still can't believe this guy gets to walk away with 1.7 billion dollars just for building up fluff while all the people who helped him grow have dire consequences both financial and personal. Unbelievable that this guy gets a clean chit, and all this isn't considered criminal. This to me is almost at the scale of Theranos. Only, this guy was smarter in the legal side of things, perhaps.