|PRESENTED BY A TEMPLATE FOR UNDERSTANDING BIG DEBT CRISES|
|By Dan Primack ·Oct 10, 2018|
|Top of the Morning|
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.
|Most Exciting time to be alive : NM.net since 1962--67 thank you japan for making world better place ...2020s Japan is pivotal to sustainable cooperation, lifelong learning and AI's decade, valuing youth & world's number 1 trading belt #BR1 - maps can include essential role in peace blossoming across koreas; Top reasons why worldwide under 30s need network (eg how can we help you and Yuichiro Anzai DC whatsapp +1 240 316 8157) Japanese friendships 2018-19-20|
summer 20 japan olympics- with jack ma sponsoring- his expo of first full year as education revolutionary and attempts to bring back SMEs to superstars markets will be world changing - prep universityofstars.tv in run up summer 20, japn hpsts g20 in 2019- youth and other sherpa groups can linkin here; pope to visit japan late 2019; our experieence is youth who study in japan for a while gain extraordinary zen and other abilities -look at what ori is up to in redesigning nigeria helath care- with due respect her lecture at mit was my favorite moment; joi comes in number 3- understanding how bkash was born in legatum is the most importat end poverty lesson i have ever heard; youth networks of arctic circle who linkin round tufts are wonderful- farmers PIH has lots its cooperation edge sin kim went to worldbank unless you know how to help pih open source all it knows that is urgent now it is agreed healthy world's number 1 missing curriculum is peer to peer pre-teen health 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 email@example.com NormanMacraeFoundation
best news from other Millennials : Africa , Green. Top10 goals of Youth&Yunus Capitals
|Yunus Bangladesh and Facebook“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|