Monday, September 30, 2019

WeWork is looking more super messed up.

"Thousands of people who worked tirelessly, because there's no other way to do it there, are going to end up screwed financially because they took lower income to have more equity that has disintegrated,"one executive told Reeves Wiedeman at New York Magazine's Intelligencer. Several employees reported using their savings to buy stock options, which could leave them financially ruined. Before leaving, Neumann had already cashed out more than $700 million of the company's stock, The Wall Street Journal reported this summer. Source.


  1. I'm still baffled by this 'woke' capitalism where companies have substantial debt and little profit but still able to function for years and then convince suckers to give them money via an IPO.

    Am I missing something here?

  2. I don't think that is capitalism at all. Not even "woke" capitalism. It's counterfeit capitalism. Not my phrase I stole it from someone else. Your main goal is not to lose money under capitalism. Which is what these companies are doing as a business model. That is socialism made to look like capitalism.