Neumann Steps Down From WeWork Board, Gets Massive Handout From Softbank

As always, nice parachute package for executives to tell them to leave after they fcked up the company. In this case, a $1B for screwing things up. Nice work if you can get it.
 
trader99 said:
As always, nice parachute package for executives to tell them to leave after they fcked up the company. In this case, a $1B for screwing things up. Nice work if you can get it.
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We'll to be fair he's a founder and holds a huge amount of the company equity and voting share as a result. This is just realpolitik on the part of SoftBank to prevent him from burning them if/when he self immolates. You have to give him something to give up the rights he has earned with his equity, apparently this is what was required in this instance. No charity or giveaway involved, pure business.

Note that you too can get this work if you do the work to found a successful company and get it funded. WeWork is a solid couple billion dollar company. The people who screwed up and deserve criticism here aren't the founders who started and grew it to a place few of us could, it's the SoftBanks of the world who gave it a $47B valuation it never deserved.
 
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