softbank taking over wework ?
SoftBank seeks control of WeWork through financing package: source | Stock Market Newsfeed
softbank taking over wework ?
SoftBank seeks control of WeWork through financing package: source | Stock Market Newsfeed
WeWork has a questionable business model that no doubt relies on the next funding source.
I would be wary of any company/ fund that puts dollars into any company that provides no value and plenty of noise.
We really need to adjust our natural tendencies to give oil to the squeekiest of wheels as a start!
Maybe thats the way society is going now? Where its all about marketing, hype and PR?
I get that one company investing $100m would be in trouble if they lost all of that, but if they can get 10,000 companies to pay $10,000, then it makes it more sustainable. Depends whos left at the end when they cant get paid.
https://www.ft.com/content/b5104854-...c-bc9acae3b654
WeWork locations in Shanghai, where it has installed 43,600 desks, had a vacancy rate of 35.7 per cent in October. In Shenzhen, where the company has 8,000 desks, 65.3 per cent were vacant, while 22.1 per cent of the group’s 8,900 desks in Hong Kong sat unfilled. The company was also expanding in central China, with multiple offices in Xi’an. There, it suffered a vacancy rate of 78.5 per cent.
He already sold $700 million worth of shares before the failed IPO I believe. He might even still own the buildings that WeWork leases (for which WeWork lent him the money to purchase the buildings in the first place...).Original Post Deleted
I feel bad for Masa-san that Neumann took advantage of him like that. Would have loved that opportunity.
https://www.bloomberg.com/news/artic...o-office-towerWeWork Venture Defaults on Loan for San Francisco Office Tower
The $240 million loan was for a building at 600 California St. that is owned by funds managed by a venture formed by WeWork and Rhone in 2019 to buy and oversee real estate. Office property defaults are starting to pile up as landlords grapple with the pressure from rising rates and seek to kickstart negotations with lenders. Markets such as San Francisco have been under particular strain as technology companies slash jobs and pull back on their office space
Searched for suitable thread to post to and found this. Experts and prophets..
Last edited by sarsi; 14-04-2023 at 02:49 AM.
And not much chance of recovery in the market for SF office space anytime soon:
https://wolfstreet.com/2023/04/04/sa...ing-from-home/