WeWork: Shitcoin of Real World 🤢

I guess you have all heard about WeWork and its continuously failing IPO. It's really astonishing!

-> Valuation "from $67 billion to $10 billion in 7 days" pre-IPO still
-> CEO Adam Neumann has made millions in deals leasing properties to his own company
-> Facebook raised $2.2 billion pre-IPO. Google raised $130m pre-IPO, Ebay $6.9 million. WeWork has raised $14 billion so far.

The only reason it was valued at $47 billion is purely because one individual in Japan bafflingly and solely invested a total of $12 billion, in 9 separate funding rounds, each at double the price (and valuation) he (and he alone) paid less than 6/12 months prior. - averaging up? 😂

A fun story about Adam & Miguel doing crazy stuff, and how being an accredited investor doesn't mean having a gram of a brain 👉 https://www.zerohedge.com/markets/wework-fraud