[wpietri]

I could argue it either way. But I think it's reasonable to suggest that there will always be people who are scammers (or so oblivious that it amounts to the same thing). We've only heard of Adam Neumann because investors gave him billions. SoftBank in particular gave $10+ billion [1], and I understand that's really just Masayoshi Son making those decisions. So I think it's reasonable to give him a lot of the blame for empowering somebody whose business plan appears to have been surprisingly close to that of the Underpants Gnomes [2].

[1] https://www.bloomberg.com/news/articles/2019-09-06/wework-ip...

[2] https://knowyourmeme.com/memes/profit

[DebtDeflation]

> SoftBank in particular gave $10+ billion

This is the fundamental conundrum. Softbank has invested a total of $10.65B for a 29% stake in a company that (if valued like the commercial real estate firm it actually is instead of the tech unicorn that it isn't) is probably worth $5-6B if we're being generous. Further complicating matters, We is posting losses and burning cash at an incredible rate and will need additional financing in the very near future. It only makes sense for Softbank to continue to prop We up if they believe they can dump it on a greater fool in the very near future, which is looking less and less likely by the day.

[goatinaboat]

WeWorks next finance round was supposed to be $4Bn IPO money + $6Bn loans contingent on the IPO succeeding. Another SoftBank-sized mountain of cash, which is now looks unlikely they’ll get. It’s interesting that it’s the same amount. Maybe this was SoftBank’s planned exit?

[kunday]

Even if someone were to invest in we work they will expect bargain price, given things considering.

I think SoftBank is probably pushing things further enough until they raise money for their next vision fund.