Betting billions on bizarre entrepreneurs
What can you say about “sophisticated” investors who would pile billions into a startup whose 40-year-old founder walks the streets of Manhattan barefooted and says his company’s mission is to “elevate the world’s consciousness”? Did I mention that his enterprise has yet to turn a penny of profit? We speak of Japan-based SoftBank and other investors who believed in WeWork after swallowing much of its “yoga babble.” They thought that its creator-pitchman, Adam Neumann, was touched by the eccentric genius of a Steve Jobs. Why was never clear. In actuality, WeWork is ...