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Originally Posted by BigRedChief
Seconded. Well done series.
She was fantastic. This was well done too. Watched the other We Work and Thernos series too. These all a fantastic revel of the "celebrity" culture invading business and the rich who don't want to miss out on the next Google or Facebook.
Thernos everyone lose their money and she is going to jail at some point. But, the We work couple got to keep a Billion collars? How was that possible? It was all a fraud. They had evidence he was taking money meant for the business and using it for personal gain. Building himself houses, putting millions in his personal bank account. How is that legal?
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The We work stuff was mostly VC money and they didn’t choose to sue for fraud. I listened to an audiobook called the Cult of We. It was pretty plain to me that they committed some fraud. But by the same token the VC jackasses didn’t ask for gaap financial statements. They were focused on growth only, and failed to even run a basic margin analysis.
I believe there is a case for some fraud. But the reality is the VC guys are dumber than ****. And they certainly had some governance problems on the board that allowed the ****ery to happen. But this is nothing like Theranos falsifying medical lab tests and trying to bamboozle lab certifications.