WeWork: A Financial Scam So Obvious That It's An Insult To The Concept Of Investor Stupidity

Neumann has actually been able to convince people that WeWork is a technology company, as a way to justify its absurdly high valuations. In addition to extolling their ‘culture of inclusivity’ and ‘energy of an inspired community’, the company’s SEC filing refers to their ‘extensive technology’ more than 120 times.

Of course, there’s never any description of the technology, or what it actually does. There’s also not a SINGLE line item in WeWork’s financial statements that shows ANY research and development.









David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.