Legend- Currently editors of world record book of job creation see Asian Pacific Millennials connecting 6 of the other sustainability world's top job creators. Y-Yunus; A-Abed; K=Kim I=Ito W=Women4Empowerment; G=Gandhi edu family Lucknow - are you a journalist for youth who could help with curating this blog? rsvp chris.macrae@yahoo.co.uk NormanMacraeFoundation
best news from other Millennials : Africa , Green. Top10 goals of Youth&Yunus Capitals
Yunus Bangladesh and Facebook

What is Nobin Udyokta (Young Entrepreneur)?

“I should never seek a job in my life; my mission in life is to create jobs. I am not a job seeker, I am a job giver.” - Nobel Laureate Professor Muhammad Yunus. Keeping the above philosophy of Professor Muh Read More... notes from America on missed opportunities of era of spending 4000 times more on global commns

Wednesday, October 10, 2018

from axios news of softbank take over of wework

Axios View in browser
 
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.
  • This is similar to what the Japanese giant has employed at other Vision Fund portfolio companies, and a hot topic among VCs has become if it can really work beyond the consumer services sector (particularly in enterprise software, where Vision Fund has been taking a hard look).
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.
  • In that vein, it's worth noting that Sam Altman (Y Combinator), Marc Andreessen (Andreesssen Horowitz) and Dan Doctoroff (Google's Sidewalk Labs) reportedly joined an advisory board for the Saudi government's $500 billion mega-city project, called Neom.
• 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.