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And (IMO) more than borderline fraudulently to employees.

As a startup founder, shit like this poisons the environment both for investment and for hiring employees. When people make choices about where to work, stuff like Theranos and WeWork is distinctly not helpful. It gives our industry a patina of fraud.

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I don't know the details of when the news broke, but I'd be interested to know how many people at We knew that Neumann owned some of the properties they were renting and not WeWork. Because if I knew that self-dealing was going on, I definitely wouldn't work there. If I found out, I'd try and leave as soon as possible.

I can't imagine what it feels like to be at a promising startup with options and people are floating a 47-60 billion valuation at you, only to have a bunch of shady business come to light and then have that value evaporate before it was ever realized. Even if you didn't act on it, and pretended it was a lottery ticket - the emotional toll must be excruciating. I really empathize with the boots on the ground at some of these companies, they're working hard just like the rest of us.