> Banking on the public being stupid is not a good idea. Wisdom of the crowds is real.
Hardly.
It wasn't the fact that WeWork had horrific fundamentals that killed the IPO--look at Uber and Lyft. What killed the IPO was all the reporting on how Neumann was looting the company in just incredibly douchey ways.
If Neumann had been a touch more sophisticated or slightly less brazen in looting the company, the IPO probably would have succeeded.
Hardly.
It wasn't the fact that WeWork had horrific fundamentals that killed the IPO--look at Uber and Lyft. What killed the IPO was all the reporting on how Neumann was looting the company in just incredibly douchey ways.
If Neumann had been a touch more sophisticated or slightly less brazen in looting the company, the IPO probably would have succeeded.