[pwinnski]

There were tons of other REITs when WeWork launched, and most of those didn't burn more than $10B on fraud.

Neumann will brand these apartments, and enough people will feel excited to be living in a "Flow" apartment to fill them up (it's not like the US has enough spare housing to let that many apartments sit empty at even unreasonable prices), and Neumann will convince a lot of people that he's doing something different than every other property management company out there, while people at competing property management companies scratch their heads and think no, he isn't.

Then it will come crashing down as everybody slowly realizes that Neumann has been lining his own pockets and that in the end, this is just another property management company, worth no more than the properties they hold.

There might be another movie or miniseries about the process, too. Because apparently people can't get enough of being conned by Neumann.