any thoughts on how softbank can kiss off 6.5bn on wework and their stock is barely down a single percent today?
any thoughts on how softbank can kiss off 6.5bn on wework and their stock is barely down a single percent today?
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
not to be flip, but it literally doesn't mean a goddamn thing in this market environment...anything short of bankruptcy is gonna be met with a shoulder shrug and an attitude of 'the fed is cutting rates and is gonna keep cutting rates' so we need to be in equities at all costs...doesn't matter the shittiness or greatness of the underlying company... you didn't think you could time travel back to '98-'00, did you?
watch the markets once the fed hints at maybe easing off on the cutting or flat out saying 'we're done'...
its confusing because i can google-alert keywords about very specific sorts of corporate intrigue and generally (not always but generally) the stock value for the impacted company either has just dipped considerably or is on its way down.
but softbank is just like 'lol my bad' and no one gives a shit that it just chunked off 8 years of revenue?
surely there must be an explanation.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
as it should...guessing that softbank didn't see a decent dip in stock price a few weeks/months before this thing actually came to a head? street has a way of figuring out shit is fucked before it's officially announced that it's fucked...
I totally get your thoughts and agree...8 years of revenue something should be happening very negatively to it's stock price...but the price action in this market has been beyond fucked for awhile...
https://www.cnbc.com/2019/11/06/ray-...ld-is-mad.html
Hedge fund manager Ray Dalio says the economy isn’t growing because ‘the world has gone mad’
Sounds promising.
I think you get it. However, this feels more like 2007 than 2000. Once again, we have a giant pool of money (retirement savings and no interest debt) looking for a decent return in a low interest rate environment.
That giant pool of money will find trouble. It always does.
2000 was pure speculation and optimism. 2007 was thirst for any fucking return on equity. There’s a difference.
Netscape. I just saw an old Netscape commercial the other day. Beautiful.
What Sonatine doesn’t realize is the game now with start ups is that they are drowned with capital investment. Again, money is fucking worthless and it seems prudent to over fertilize in the effort give your venture a jump start over the competition.
The strategy of a dump truck of start up investment was invented by SoftBank. Flesh wound. It was all built in and well anticipated.
That WeWork was even a idea .... that WeWork failed will be in all the university case books when the post mortem is written on this era. WeWork is important
You simply can’t pour enough speculative capital into a shitshow like WeWork. Son, that is where the quarter million dollar headshots are coming from. There is no idea too stupid that requires a 25 year old to code.
Last edited by Sanlmar; 11-10-2019 at 10:48 AM.
Because this has been known for a while and it was already baked in?
Softbank is trading at 28% off its 52 week high while the overall markets are mostly up.
The WeWork fiasco has already been priced in, and frankly with Masayoshi Son accepting responsibility along with the appropriate write down it can be seen as a positive to investors.
What a joke WeWork is. They lease office space and sublease it. This is their big innovation? This is their basis for a $100 billion attempted IPO?
They also create "shared living spaces" with communal kitchens and Rec rooms, AKA dorms, where they expect professionals to live. Who in their 30s and 40s wants to live in a fucking dorm? Have some self-respect FFS.
The CEO said in public he was considering moving his family into one, and his wife chimes in, "uh, no."
SOBCHAK SECURITY 213-799-7798
PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL
really interesting tidbits itt
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
just popped up on my youtube, watching it now but figured it would be apropos...
PREEDIT: worth the watch...
EDIT: wonder what Wharton, Harvard educated associate got shitcanned for investing in this pile of shit at a $40+B valuation...
EDIT2: seems like a fucking cult of personality that was being invested in instead of what the actual company was worth...a similar british company IWG wasn't being valued at anything close to $40+B...san be interested in hearing if that's what your daughter experienced at zappos…
EDIT3: wave pools and elementary schools...holy fucking shit...these guys are making the evil empire look semi-functional and competent...
EDIT4: if this ever came to the street it would have been fucking brutally taken down...I mean that's a fucking no shit cause they woulda IPOed it if they thought they would get any result other than a brutal trouncing...woulda been fun as fuck to watch...
WHAT...A...MOTHER...FUCKING...SHIT...SHOW...
thanks for brining this to light 'tine...interesting story here...
Last edited by GambleBotsChafedPenis; 11-11-2019 at 12:05 PM.
Not every single arrogant kid in a ratty hoodie who was never disciplined at home is worth investing billions in.
SOBCHAK SECURITY 213-799-7798
PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL
tee hee..
https://www.zerohedge.com/markets/go...ail-out-wework
Finally as one veteran investor mocked, this all looks like one giant self-reacharound for Goldman to rescue their own investment in WeWork from further writedowns...
warms my cockles...
jesus fucking christ
https://www.wsj.com/articles/softban...es-11575916341
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
good to see laying off their it security people worked out so well for them.
https://twitter.com/twt/status/1210321007602552832
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
TINES REACHED THAT AGE WHERE HE SOMETIMES ENJOYS A SOFT WANK KABOOM
CUZ HES 56 AND HIS DICK DOESNT GET AS HARD YOU GUYS GET IT
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