business

WeWork throws in the towel on its ill-fated IPO

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By Anirban Sen

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The whole thing was a ponzi scheme for Newmann to get rich, hopefully they go after his lavish spending and structuring the company in such a way that it pays him directly through shadow companies and other questionable methods.

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I think the IPO requirements need reviewing - to ensure that only "truely" profitable Companies can be listed, and by true profit, I mean the plain standard concept "profit", not profit through creative accounting, and the big is beautiful clause aka market cap, allowing a new "IPO" should be dropped entirely. Golden angels trying to bail by selling junk to the rest of us should not be an excuse to grant an IPO.

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