I just read a great article about how things got so bad at WeWork prior to the IPO, it was beyond Neumann paying himself ridiculous amounts of money or Son Masayoshi making a valuation mistake… it was about deliberate valuation manipulations in order to eventually get public investors to bail them out with an ultimate price gouging plan at the end of it.
I’ve been watching the IPO debacle from the beginning and reading as many articles as I can get my hands on. Watching it unravel has reaffirmed my investment plan to only invest in profit-making entities.
The path to profitability for Uber and Lyft looks more like a dead end
The ride-sharing companies are subsidizing rides and overspending on technology, and soon their very business model may be upended in California.