[jhcl]

WeWork is a huge success...for its founders. Neumann reportedly sold over 700 million worth of shares ahead of the IPO.

For some reason every startup nowadays is the next Amazon or Facebook. Poised to become the market leader in their field of expertise. Most of the IPOs are losing big money yearly but the market is happy to support them with billions of dollars. Actions that would make Warren Buffet cringe but could make money if you're lucky.

This invites startups to take advantage of the situation. To me this is one of the dark sides of our society because the ones at the bottom of the pyramid losing their money are you and me saving for our pensions.

[dagw]

WeWork is a huge success

Indeed. For all the platitudes otherwise, the vast majority of startup founders do this primarily because they want to become rich. Judging a startup by any other metric is at the end of the day at least somewhat disingenuous.

If all you know about two startups is that in startup 1 the founder exited the company with $10 million in his bank account and in startup 2 the founder exited with $750 million in his bank account, which would judge the bigger success?

[john_moscow]

Warren Buffet grew up during the great depression. The rest of the market will have to learn it the hard way.