Elizabeth Lopatto at The Verge digs into the S-1 filed by The We Company.
I don’t know, friends. I just don’t know. I have never seen anything like this, and I cannot wait to see what the SEC has to say about loaning your founder, CEO, and controlling shareholder money while also paying him rent. This is to say nothing of who got paid by the name change or any of the rest of it. “As an investor, why would you be willing to put your confidence in this structure?” Charles Elson, a corporate governance professor at the University of Delaware, told Bloomberg.
I wouldn’t give them the wrapper my sandwich came in.