1) The WeWork debacle continues... On Friday, Bloomberg reported that WeWork's largest investor, SoftBank
Group, is realizing that its "big bet may already be turning sour... fueling tensions among SoftBank
employees."
Then, the Wall Street Journal published an article raising even more questions
about the company's laughable corporate governance (even by the low standards of today's unicorns):
WeWork's Long List of Potential Conflicts Adds to Questions Ahead of IPO.
All of this is
leading to even more investor skepticism and talk of an even larger valuation cut to get the IPO done:
WeWork Parent Weighs Further Valuation Cut.
It's not going to work. You can stick a fork in
this IPO.
And I'll make an even bolder prediction: I think the company goes bankrupt within a
year. That's what happens when companies run out of cash – and who, exactly, is going to provide this
money-losing pig with the billions of dollars necessary to keep its fatally flawed business model
alive?