Sep. 20th, 2019

basis211: (Default)
Facebook raised $2.2 billion pre-IPO. Google raised $130m pre-IPO, Ebay $6.9 million. WeWork has raised $14 billion so far, 7x what Facebook required pre-IPO, 140x what Google needed and they’re not even a technology company. Where has that $14 billion gone? They raised $14 billion, have less than $1.5bn cash and have nothing to show other than $47 billion in lease commitments and a portfolio of supersized Starbucks’s which are beginning to look outdated and in need of urgent refits. Airbnb on the other hand is a technology company, has raised $4 billion and posted profits of $93m last year on $2.4 billion in revenues.

medium.com/@henry.hawksberry/is-we-work-a-fraud-5b78987d3e61
Page generated May. 24th, 2025 10:53 am
Powered by Dreamwidth Studios