By Darren Atwater | Sunday 18 August 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The story that I have been returning to this week is this one, about the US IPO of coworking company, We Work. It is completely bonkers.
From how the company needed to pay $5.9 million to secure the rights of their new corporate name (We Company) from a company owned by the founders, to how the company is loaning money to the founder to buy the properties from which the company now leases. And, get this, if the CEO dies, his estate will choose the new CEO.
It's a cracking read and not at all evidence of the end of late-term capitalism.
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