Tender Offer Didn’t Happen. Bonds Plunge to Record Low. This comes after WeWork reported a $1.25 billion loss in Q3. Second thoughts about throwing so many good billions after bad?
The people voted to scrap the project that was one-third finished, $4 billion over budget, mired in allegations of corruption, and built on an unstable lake-bed. But it has a life of its own.
Strongest argument in favor of an air-walking economy is WeWork, Uber, Lyft, and other unicorns destined to never make a dime. Throwing billions of dollars at these losers is a recessionary harbinger.
