Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork
Reeves Wiedemanamazon.com
Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork
SoftBank brashly poured billions of dollars into “tech-enabled businesses” with large CapEx requirements, like WeWork and a dog walking company, Wag, and pushed them to grow fast. That’s how we found ourselves in the situation we did at Breather, faced with a competitor that pursued growth to the exclusion of unit economics.
Packy McCormick • Masa Madness
Aggressive Overbids. The Vision Fund is notorious for offering companies multiples more money at higher valuations than they were planning on raising and threatening to invest in competitors instead if they said no. If a company set out to raise $250 million, Masa asked them what they’d do if they had a billion. This elbowed out other investors and... See more
Packy McCormick • Masa Madness
If you’re familiar with SoftBank, it’s probably because of the Vision Fund. It’s the most ambitious and controversial venture capital fund ever raised, and it massively distorted the private startup market. After nearly two decades operating, Masa was ready to get back to investing.
Packy McCormick • Masa Madness
In the summer of 2019, The Wall Street Journal published a series of articles that raised questions about WeWork’s a corporate governance and revealed unsavory details about Adam Neumann’s personal financial dealings, as well as his penchant for partying.