Ep. 297: WeWork - A Disaster Waiting To Happen

Published: July 19, 2019, 11:02 p.m.

b'We critiqued WeWork\'s (aka "the We Company") business model in episode 292 of this podcast. Now comes the news that co-founder CEO Adam Neumann has sold $700 million worth of stock per the Wall Street Journal. This type of a stock sale by a founder CEO ahead of a prospective IPO is unprecedented in our 20-plus years in the capital markets and is a huge red flag. It would take a small miracle for WeWork to pull off an IPO in our view given the fact that the company does not match lease durations and given news of this $700 million stock sale by Neumann.'