You know why that story sounds ridiculous? Because it's well documented that most of it never happened.
That’s... exactly what I was getting on about.
The article you posted exactly and precisely directly asserts what I’m asserting.
A few knuckleheads pouring money into a shortsighted endeavor.
The entire premise of the value of capitalism is that smart money can take from stupid money. But capitalism is failing because we have no way to bet against these awful allocations of resources for the majority of their existence. In the case of WeWork, you still can't.
Late capitalism is that everyone at the top swings up and down with their peers and no real risk but the economy suffers real damage.
In my opinion Index funds and crony capitalism are a top down economy problem just as insidious as the one that took down the Soviet Union.