What is We!? Understanding the WeWork IPO

American political discourse undoubtedly peaked in 1952 when a Mississippi legislator with the wonderfully Dickensian name Noah “Soggy” Sweat, delivered the “If-By-Whiskey” speech. Reading the WeWork S-1, it kept coming to mind.

If by WeWork you mean the capital inferno; the overhyped infernal machine that will only get shareholder funds for as long as Vision Fund I needs to show a high enough IRR to close Vision Fund II; the bizarre multidimensional Flying Spaghetti Monster of nested C-Corps, LLCs, and LPs, all rife for abuse by its controlling shareholder…

--

--

I write about technology (more logos than techne) and economics. Newsletter: https://diff.substack.com/

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store