Neumann's Sin Is Overstated
Media and analysts seem to want us to conclude that CEO Adam #Neumann was at the centre of everything that went wrong with #WeWork.
No sir, we know that the real culprit is an investing environment where stars like #Masayoshi Son of #Softbank and the big boys running the large institutions have a compulsion to raise mega funds, make mega fees, generate alpha returns, lead mega IPOs and master the universe!
Neumann is just their mascot, even a prized vehicle who will carry them to their mega-destination.
Smoking weed on a private jet, charging a few million dollars to WeWork for allowing the use of 'We' are Neumann's minor offences. We won't bother to read about it. These failings mean nothing when compared to the real big boys of investing promoting a real estate company as a tech company, assigning a stratospheric valuation that can't be explained on the back of an envelope.
No sir, we know that it will help everyone, especially investors, if Neumann was branded as the cause of WeWork's disease, which has now been neutralised.
We very much look forward to a new unicorn hero before iPhone 12’s release.
Chetan Shah