.png "back to home page")
This is going to end very, very, very, very, very, very, very, very, very, very, very, very badly.https://t.co/Cj2unzVPHj
— Carol Roth (@caroljsroth) July 19, 2019
The perils of Asynchronous Liquidity, taken to the extreme. https://t.co/qTBbWcPvPI
— Semil (@semil) July 18, 2019
SoftBank didn’t put a clause in there? https://t.co/U7I7aERai4
— Stephen Alred Jr. (@salred3) July 18, 2019
This was one of the critiques I made of "blitzscaling" in the critique I published in @qz in February. I didn't use WeWork as the poster child for its problems, but I could have. https://t.co/Y3AMgKYMnc
— Tim O'Reilly (@timoreilly) July 18, 2019
Adam Neumann, WeWork Cos.’ co-founder and largest shareholder, has cashed out more than $700 million of his holdings in the company ahead of its IPO through a mix of stock sales and debt https://t.co/64KteXIWMv via @WSJ
— Keiko Morris (@KeikoMorris) July 18, 2019
Hmmm. Don't love that. https://t.co/n7mMFMimAK
— Heidi N. Moore (@moorehn) July 18, 2019
Some University endowment entrusted its money to a venture capital firm to make world-changing investments and all that VC did was help some doofus make a shit ton of money so he could buy himself a room shaped like a Stratocaster. https://t.co/aNIKTG7x8S pic.twitter.com/u5r6MRPg6A
— Ryan Mac ? (@RMac18) July 19, 2019
Last version of this was Groupon when it was high flying. Yeah that turned out well: WeWork Co-Founder Has Cashed Out at Least $700 Million Via Sales, Loans - WSJ https://t.co/LHgnTrZYoe
— Kara Swisher (@karaswisher) July 19, 2019
Congrats to WeWork’s CEO on becoming the first community-adjusted BillWeOnaire https://t.co/xwbGE26uKh
— Alex Konrad (@alexrkonrad) July 18, 2019
wouldn't want all your personal wealth tied up in a controversial real estate business with billions of dollars in losses! https://t.co/0rT9kge7HB
— Eric Newcomer (@EricNewcomer) July 18, 2019
Normal behavior https://t.co/Z1X1lukhtj
— Alex Heath (@alexeheath) July 18, 2019
Translation: CEO of WeWork is set for life on a scale beyond 99% of even the most successful startup founders, no matter how hard his company crashes and burns in any potential real estate downturn https://t.co/B06w3otSTy
— Christopher Mims ? (@mims) July 18, 2019
Adam Neumann, WeWork Cos.’ co-founder and largest shareholder, has cashed out more than $700 million of his holdings in the company ahead of its IPO through a mix of stock sales and debt https://t.co/Irgts2xQ1k via @WSJ | How is this not fraud? Looting an unprofitable company?
— R. Christopher Whalen (@rcwhalen) July 18, 2019
a very very much want to know what employees at WeWork are thinking rn... https://t.co/kBGDnHg9yR
— sara ashley o'brien (@saraashleyo) July 18, 2019
??? #WeWork #IPO #Implosion
— Philipp Kloeckner (@pip_net) July 19, 2019
IPO - noun [countable]
?pronunciation: /ˌaɪ piː ˈəʊ/
?Contemporary Definition:
The process of offering inflated/overvalued/worthless shares in non-public companies to retail investors, making previously illiquid depreciated assets disposable. https://t.co/gpncIWf2NI
I’d be pissed (and have been) investing in a #startup whose founder didn’t wait 4 the same monetization #angelinvestors and employees have to wait for (aka risk sharing). Where’s the board in this?! Who’s on it?! And, then there’s the renting space from bldgs he owns, right? https://t.co/Kfg8JmOHQf
— LetitiaGreen MBA MEd (@VaActiveAngels) July 18, 2019
WeWork's co-founder/CEO Adam Neumann has cashed out at least $700 million through stock and debt ahead of a possible IPO
— Scott Austin (@ScottMAustin) July 18, 2019
An eyebrow-raiser from @eliotwb @maureenmfarrell @PreetaTweets https://t.co/7cJNTPTkYw pic.twitter.com/TRYBoimUzB
"He has also taken out loans of several hundred million dollars backed by his WeWork shares".
— John_Hempton (@John_Hempton) July 18, 2019
Why?
Is this some form of insanity?
https://t.co/Yk4jYkNEqH
WeWork's founder has cashed out $700 million of his stake prior to the IPO, going on a spending spree including paying "$21 million for a 13,000-square-foot house in the Bay Area with a guitar-shaped room" https://t.co/HxuyQ8GVbz
— Tom Gara (@tomgara) July 18, 2019
How much have the employees of the company been allowed to sell is the most relevant question here.
— ??????? (@Jason) July 18, 2019
If sophisticated investors are buying in secondary remember: they are highly sophisticated & they (should) have complete information — don’t worry about them, think of employees. https://t.co/iKXqACav74
There are law firms setting up templates for shareholder lawsuits right now. Just waiting for the plaintiffs...https://t.co/EdMkqvLBBR
— James Newell (@jamesfnewell) July 19, 2019
So this seems pretty Ponzi finance. @nils_gilman @DanielAlpert https://t.co/WlOlENnYiQ
— Yakov Feygin (@BuddyYakov) July 19, 2019
WeWork Cos. co-founder Adam Neumann has cashed out more than $700 million from the company ahead of its IPO through mix of stock sales and debt, an unusually large sum given that startup founders typically wait for the IPO to monetize their holdings. https://t.co/pBc2D687va pic.twitter.com/gQXa0QjPQP
— Newley Purnell (@newley) July 19, 2019
New reporting on @WeWork CEO Adam Neumann's "cash out" of $700 million from the company.https://t.co/FGJAsIEZbY
— Dan Primack (@danprimack) July 19, 2019
Also will discuss shortly on @CNBC.
“A source tells Axios that around $300 million was in the form of stock sales, most recently via an October 2017 tender offer from WeWork investor SoftBank. The remainder was loans.”https://t.co/AjA1r92ebh
— KiD? (@kidkapital) July 19, 2019
More on WeWork:
— Dan Primack (@danprimack) July 19, 2019
Adam Neumann sold around $300m in stock. The other $400m was loans. He does not plan to sell shares in the company's IPO. https://t.co/FGJAsIEZbY
Behind the WeWork founder's $700 million cash out https://t.co/SBiaPEndBx
— Axios (@axios) July 19, 2019
Adam Neumann had previously sold some of his stake in the company and borrowed against some of his holdings, the people said. https://t.co/pKWpgoh8tm
— Tech in Asia (@techinasia) July 19, 2019
The 737 Max crisis has cost Boeing $8 billion and counting, WeWork’s C.E.O. may have cashed out $700 million, AB InBev will sell its Australia unit for $11.3 billion, and more in today's DealBook Briefing https://t.co/WKDbEwrEWj
— NYT Business (@nytimesbusiness) July 19, 2019
here’s my post on wework, $700M secondaries, and poker https://t.co/TAks25VkMO
— alex (PVD) (@alex) July 19, 2019
WeWork의 창시자, 7 억 달러의 현금화 https://t.co/c7cFDxd9ot
— editoy (@editoy) July 20, 2019
• 투자자는 자신의 회사에서 I.P.O.에 앞서 캐시 아웃하는 설립자는 공개 시장에서의 성공 가능성을 보지 않는다고 생각하는 경향이 있습니다.
It gets better - used some of proceeds to purchase properties that he leased to WeWork. Excellent. #selfdealing https://t.co/iBYXAissAH
— Brian JM Quinn (@bjmquinn) July 19, 2019