WSJ: Softbank taking control of WeWork
SoftBank "has prepared a financing package that would give it majority (50%+) control of WeWork and further sideline its founder Adam Neumann in exchange for relieving the shared-office startup’s looming cash crunch." Looks like Softbank had no choice but to dig deeper.
No amount of funding is going to fix this dumpster fire of a business model, it’s only purpose was to make Adam Neumann a billionaire via legalized pump and dump
Agreed. I'm not sure what the residual value would be as they have few tangible assets besides the brand. You're talking about a company that leases other people's property then sub-leases out at a loss.
How much money that Neumann earned/took could be taken back by the company and investors?
Airbnb should by Wework for penny on the dollar.
WeBack?