
WeWork set to sack 2,000 staff as anger towards Adam Neumann grows - purple_ducks
https://www.theguardian.com/business/2019/oct/15/wework-sack-staff-workers-adam-neumann
======
mytailorisrich
My nomination for the quote of the year 2019 is in this article:

 _One worker said: “I left crypto to join an even more ludicrous ‘parody, IRL
[in real life]’ enterprise. Didn’t even think that was possible.”_

------
ycombonator
_Morgan Stanley told WeWork its valuation could hit $104 billion, Goldman
Sachs estimated the high end at $96 billion, while JPMorgan said it might
reach a more modest $63 billion, according to the Financial Times._

How are these three companies still not fined by sec for fraud ?

~~~
Overtonwindow
Probably because they’re deemed too big to hold accountable.

------
not_a_moth
> Neumann, 40, cashed in around $700m of his own shares in WeWork

My goodness, is WeWork the most stylish ponzi scheme of all time?

~~~
rvz
> is WeWork the most stylish ponzi scheme of all time?

Almost. The investors caught them exit-scamming and forced them to postpone
the IPO due to further scrutiny of their profitability plans. As for the CEO
banking his shares pre-IPO, it doesn't give confidence in investors that they
are actually profitable or worthy of being $47B (Now less than $9B).

I rarely attack on character here, but I'm afraid this exit-scam almost
strongly resembles a certain joker taking his circus on the stock market.

------
kasperni
nymag had a really good article about the WeWork circus
[http://nymag.com/intelligencer/2019/09/what-happened-at-
we-w...](http://nymag.com/intelligencer/2019/09/what-happened-at-we-why-
wework-postponed-its-ipo.html)

------
Overtonwindow
When you believe in unicorns you can’t be too upset when they turn out to just
be full of imaginary dreams.

------
keymone
> We thought we were in on something really big.

\- We.

------
bobosha
deja vu over and over again

