How much Adam Neumann got before WeWork bankruptcy

cnbc.com

2 points·pg_1234··5 comments

Everybody loves to take the piss on Neumann (and the money he grabbed), but frankly, this is what startup culture is about: found a company, make it look like it's big and worth a lot of money (if it is real, that's great. But it doesn't matter) - and finally cash out.

This is what all startups go for: either with IPO, or trying to get acquired by someone who can afford it. Once the money is in the pocket, never look back.

Not sure why is he singled out - or more like, why others are not.

It is one thing to dump a overvalued company... But all of the weird deals involved and WeWork make whole thing look really bad.

I'm quite on side of caveat emptor on IPOs and SPACs. But it is sad that pension funds and such are many times involved. And entire thing isn't 100% transparent.

Yea definitely, that’s the way to do it, all startups should produce no value, inflate their stock and then the ceo should sell off his shares right before everything crashes and burns and screw his investors /s

Not saying that it is right or wrong. I'm saying that for every startup you show who are not about money grab, I will show you 50 other that are moneygrab, with a "mission". It's just the way it is, like it or not.

that’s why people talk about it, write about it, focus on the worst offenders, etc.

they don’t like the way it is and do not find it meaningful, valuable, or palatable to abdicate what little (or lots) agency they have.

so, out of curiosity… did you successfully cash out, or just give up on a better future? it could also be both.

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