What Adam did is an entirely separate issue, and not comparable to the average employee. And it was really one main investor who controlled everything and had to part with the money, and not because they wanted to but because that was the price to get rid of Adam's control.
Technically they haven't taken anything from anyone since they never went public so it's just an expensive portfolio company for Softbank and the other investors. If they feel they can turn it around then why not? Meanwhile all those people continue to have jobs.
I’m not making any judgement calls here. However, I would caution jumping to any conclusions.
I've been through layoff(s); 1-2 months is pretty standard.
>Under New York State WARN act labor regulations, employees are promised 90 days of paid notice or leave if they are laid off en masse.
That said, I think 4 months of severance is quite generous, so not sure what these folks are complaining about.
It’s really shitty that people are being laid off. With four months and a still-booming job market, hopefully they’ll find somewhere quickly with a short break in between to reset.
why? It's not like he took it from you or me. Softbank bet on him and lost. Oh well.
The only difference between now and feudal society is that the peasants knew it
I wasn’t going to write a dissertation to make my point
Would you prefer I replace “only difference” with “similarity” or “analogy”? So then I can just say metaphors compare dissimilar things that share at least one common attribute. The point itself would be the exact same and also skirt right by the most pedantic rebuttals.
The peasants were aware of their place in society, the non-capital class has cognitive dissonance their whole lives.
In practical terms, social mobility is very low.
So none of this is surprising except the startup crashed so spectacularly.
It costs money for both sides, but that cost usually deters the enforcement too unless you're really about to start a major direct competitor. I don't see WeWork doing that.
But we are supposed to be mad that the largest and founding equity holder got money for his equity commiserate with the market value that another equity holder requires so they dont get bonesawed by their own limited partners