When the WeWork IPO was still a possibility, the Tokyo-Ridyhad Capitalism paradigm seemed outrageous but not impossible.
Two weeks later, the bubble has burst but the unwinding seems to be just as outrageous. According to TechCrunch, for all the harm and fraud Adam has caused his employees, landlords, and investors, SoftBank is rewarding him with $1 billion buy out plus a $500 million loan to pay off JP Morgan’s mistake lending hundreds of millions to thus fraud.
Plus if all that isn’t crazy enough, SoftBank is paying Adam $185 MILLION consulting feee? For what, to tell them how to fix the mess? To tell them how he spent their other $11 BILLION in investment capital?
Enron’s management were sent to jail. Adam gets to retire in style? I thought the fact no one went to jail for mortgage-backed securities was bad.y
Mr. Son, you have proved a new adage… money corrupts, too much money corrupts too much.
Adam Neumann Needs To Be Held Accountable. Is There A Case For Minority Shareholders And Employees?