“The con artist formerly known as Adam [Neumann, recently-fired CEO of WeWork] is leaving with more money ($700 million) than the firm is currently worth.”https://www.profgalloway.com/yogababble
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I'm vaguely pleased that he ripped off VCs, instead of the usual exploit-the-workers BS that's currently so common.
I like the spirit of this. But it's not like the VCs will lose out big here; they mainly gamble with other people's money. Big losers here include Saudi Arabia's Public Investment Fund and the Canada Pension Plan.
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I'm not gonna loose sleep over the Saudi's blood money. and wtf is a pension fund doing in high risk gambling?
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Pension funds are common investors in VC funds because they have long time horizons and want high returns to maximize pensions.
End of conversation
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