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PRESENTED BY A TEMPLATE FOR UNDERSTANDING BIG DEBT CRISES  | ||
| Pro Rata | ||
| By Dan Primack ·Oct 10, 2018 | ||
| Top of the Morning | ||
Source: Giphy
The Wall Street Journal last night reported that SoftBank Vision Fund is "in discussions to take a majority stake in WeWork," the co-working space giant in which SoftBank last year acquired a 20% stake for $4.4 billion. Here's what we've learned, per sources familiar:
WeWork co-founder and CEO Adam Neumann originally was amenable to a deal whereby he'd lose at least short-term control of the company, but with the ability to regain control were WeWork to hit certain revenue milestones (e.g. some sort of clawback). Now, however, the talks involve Neumann retaining short-term control, although the ultimate structure could be pretty convoluted.
But no final agreement is signed or very close to being signed, and there may even be talks with other parties or with SoftBank about alternate structures.
SoftBank basically wants to accelerate its "gain market share at all costs" strategy, which has been talked about inside of WeWork since the day SoftBank first invested.
WeWork bonds, which recently hit their lowest mark since early June, are getting a small bump from the report, re-approaching 96 cents on the dollar.
I'm still wondering how the Jamal Khashoggi situation — which intensified last night — would play into WeWork's willingness to give Saudi-backed Vision Fund an even bigger stake.
• Dating docket: Match Group yesterday responded to Sean Rad and the other founders of dating app Tinder, who sued Match and parent company IAC two months ago for allegedly undervaluing Tinder last year, thus depriving them of compensation. In short, Match argued in a new court filing that this is just sour grapes from those who sold their shares too soon and is asking a New York court to dismiss the lawsuit. Go deeper.
🎧 Pro Rata Podcast: Our latest episode focuses on Google's latest user data leak, and why it took so long to disclose. Listen here.
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| EconomistJapan.com: Celebrate Neumann's &Japan's gifts to humanity since 1945, all Asia Rising 1960+ | Macrae |  | |||||
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| EntrepreneurialRevolution.city July 2020..If you care about two out of 3 lives mattering who are Asian, nearly 60 years of miracles mapping around worldwide decision-makers considering Japan from 1962 are worth replaying -that's when my father Norman Macrae aged 39 was privileged to write his first signed survey in The Economist -the first 2 quarters of dad's 80+ years of life had been spent **writing unsigned leaders in The Economist (eg as only journalist at Messina's birth of EU) after serving as teenager in world war 2 navigating air places uk bomber command region modern day bangladesh/myanmar - ** following his father who worked for british diplomatic services around embassies in midst of conflict - eg mostow of stalin 1934, last adriatic port jews used to escape hitler 1938 )-during this quarter dad concluded that world wars root cause was the history of empires like britain and japan which had trapped most peoples in poverty, to end war he wanted to mediated loving each other's places, ;peoples and especially children EconomistSports.net EconomistArts.com Musicforsdgs.com. |
Asia Rising Surveys
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youth hall of fame - japan global friendship associations 1 2 smart intrapreneurs- sony creative lounge
| future of HIStory 1945 -to update 2020s version see also Princeton history project connections with osun and von neumanns future of humansai.com look first at the G8 biggest jigsaw pieces of nearly 200 nations who sought to unite san francisco 1945-until the virus came 2020 was due to be the happy 75th birthday of nations 17sdgs as well as the frontline heroics of medecins sans frontieres and partners in health- coalitions of soft power had never been so urgent to valuetrue. Nature does not play with walls, and other games of externalization at borders -only mistaken male professionals do as they systemically confuse the power of big getting bigger with advancing the human lot for all our children including wherever the next girl is born In 1945, there were just over 5% of people who lived in usa and Canada- they had twice saved the old world tri-continent of asia Africa and Europe from world wars. Most remarkably usa that in 1939 ranked 17th in terms of international navies on a par with Portugal had become the heart of the wining allied forces. You had the two northern islands at either end of the coastal belts of west Europe and far eat asia who had multiplied so many colonial poverty traps across the Asian 60+% majority of human race , Africa and middle east’s 10%. In trying to compete with uk, France had arguably been most brutal in colonizing med sea Africa, slave trading needed to develop America north wars up from louisana, as well as napoleons war of nations which had sucked in austria hungary , Germany and Russia among others.by start of 20th c Germany without colonies to feed its engineers need for carbon and steel had become bellicose across all its borders. This left less than 2% people in the iced up and largest land mass of all ussr ready to be the victims of stalin as the second most fearsome tyrant the first hal of 20th century grew exponentially. All the while half of humanity – women – were left out of how the word capitalized land and counted productivity even though a deeper look would show that the led with educators like Montessori and health networkers like Florence nightingale, marie curie and indeed the Franciscan role of the clares as community health missionaries- the conscience of mother mary if you will. 9se girlsworldbank.com) There were of course further geographic oddities- only 10% of people lived in the southern hemisphere; less than 1% of peoples lived on what became a quarter of all nations the SIDS- small island developing nations with minimal land resources but huge ocean estates very much dependent on climate, and nature including good human nature of tourism. And you had the archipelagos especially Indonesia and Philippines with large populations- one the epicentre of the world trade in medicinal spices – know how the dutch prized nutmeg so much that they were prepared to swap with the uk control of one indonesian holland with their us territory new Amsterdam rebranded new york |  in 60 years |
Wednesday, October 10, 2018
from axios news of softbank take over of wework
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