NYU professor calls WeWork `WeWTF,` says any Wall Street analyst who believes it`s worth over $10 billion is `lying, stupid, or both`


NYU professor calls WeWork `WeWTF,` says any Wall Street analyst who believes it`s worth over $10 billion is `lying, stupid, or both`
Scott Galloway, the best-selling author and well-known tech-industry pundit, is a professor of marketing at New York University`s Stern School of Business. He analyzed WeWork`s S-1 filing as the company prepares for an initial public offering under its new name, The We Company. He summarized most of the major criticisms that have been lobbed at the company: its losses, culture, corporate structure, and disclosures about its business dealings with its founder-CEO, Adam Neumann. But Galloway, in his customary shoot-from-the-hip style, takes it further: He also criticized the bankers involved in this deal, writing they "stand to register $122 million in fees flinging feces at retail investors." The following is his blog post in full, republished by permission. It originally ran on his own blog, "No Mercy / No Malice." Really? Really? I`ve started nine firms and I`m, generously, 3-4-2 (win-lose-tie). In retrospect, and I think about this a lot, the only reliable forward-looking indicator of our firm`s success or failure was … timing. Specifically, the part of the economic cycle at founding. ...more RSK: I like his style and I think he is dead-on right about this myself...
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Scott Galloway, the best-selling author and well-known tech-industry pundit, is a professor of marketing at New York University`s Stern School of Business.
He analyzed WeWork`s S-1 filing as the company prepares for an initial public offering under its new name, The We Company.
He summarized most of the major criticisms that have been lobbed at the company: its losses, culture, corporate structure, and disclosures about its business dealings with its founder-CEO, Adam Neumann.
But Galloway, in his customary shoot-from-the-hip style, takes it further: He also criticized the bankers involved in this deal, writing they "stand to register $122 million in fees flinging feces at retail investors."
The following is his blog post in full, republished by permission. It originally ran on his own blog, "No Mercy / No Malice."
Really? Really?
I`ve started nine firms and I`m, generously, 3-4-2 (win-lose-tie). In retrospect, and I think about this a lot, the only reliable forward-looking indicator of our firm`s success or failure was … timing. Specifically, the part of the economic cycle at founding.