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by daniel-thompson
868 days ago
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one of my favorite pieces of financial journalism ever, https://www.bloomberg.com/opinion/newsletters/2019-10-23/mon..., explains how he got the bux during wework's collapse: > [softbank's offer to rescue wework] is the result of Neumann’s holdup power: Prior to the deal, Neumann is still the company’s controlling shareholder, and he could just say no to a deal that he didn’t like. That might completely evaporate his own wealth, but it would evaporate a whole lot more of SoftBank’s, and it kind of looks like SoftBank blinked first: In effect, the price of Neumann allowing SoftBank to rescue WeWork was that SoftBank had to hand Neumann a billion dollars for himself |
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