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WeWork plans to file for bankruptcy as early as next week, source says
(www.reuters.com)
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this post was submitted on 01 Nov 2023
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WeWork was nothing but a scam to fleece money from investors. Only a fool would believe a real estate company is a tech company. And that fool is Masayoshi Son.
WeWork: It's not a real estate company, it's a tech company!
Theranos: It's not a healthcare company, it's a tech company!
Juul: It's not a vape company, it's a tech company! (though oddly enough, they would have also accepted, "It's not a vape company, it's a healthcare company!)
FTX: It's not a ~~pyramid scheme~~ financial company, it's a tech company!
What is sad is how we had to establish human rights on a computer in the 1990s, and then establish them again on the internet in the 2010s and now on a smartphone
Because with each iteration our legal system sides with overreaching law enforcement whenever it's a new state of technology.
What? Not a tech company? But the CEO is hip, young and wears casual clothing! He's obviously a tech genius /s
There will come a day when people will realize that even tech companies aren't worth that much.
Older folk who went through the dotcom bubble burst should know, but they don't somehow. Oh well a third once in a lifetime market crash in 20 years would just be icing on the molten icecaps cake
I work in tech and I know it, Wall Street still doesn't I guess. Just look at how much they think our LLM's masquerading as AI are worth.
The free wine and kombucha they had on tap was nice though.
One regret of mine was avoiding WeWorks while they were hyped up on VC money because I thought it was a stupid idea. Turns out I should have just drank the free beer and let them implode on their own