Category Archives: Demographics
Charles Schwab told CNBC earlier this week that he would never buy the money-losing companies going public these days.
Neither would I.
This year’s initial public offerings have been the least profitable of any year since the tech bubble nearly 20 years ago. They’re a sham being foisted upon unsuspecting investors.
WeWork, a media darling that Wall Street loved to talk about, is a particularly egregious example.
The workspace sharing company was supposedly worth $47 billion just prior to pulling its offering according to greedy lawyers, Silicon Valley execs, and angel investors – all of whom were hoping you wouldn’t notice that the math doesn’t add up.
I only wish the company had blown up sooner.