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.