"This is a real madness." Why is the future of the iPo WeWork causes so much criticism

Almost two months ago, we talked about Wework. This is a network of coworking, which is used by companies such as Amazon, Facebook and Microsoft. The cost of the project of entrepreneur Adam Newman is estimated at the fabulous $ 47 billion, which is more than Airbnb ($ 29 billion) and SpaceX ($ 18.5 billion).

Last week, WeWork, or rather, We Company, uniting all the projects of the company (whose names, which is quite obvious, start with We) published financial documents before the future IPO in September . Not to say that investors were excited due to the release of the startup on the exchange. This is another project that can not get into profit, suffers big losses, but attracts the money of large investors.

But the Avenue of the issue (contains information about the issuing company and its securities), published by We Company, made a lot of noise. And now many doubt that the access to the exchange of the company, which, together with Adam Newman is ruled by his wife Rebecca Paltrow Newman, will be successful. The problems were not only in financial indicators, but also in what characteristic the company gives itself.

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