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Adam Neumann is buying two plots of land for $44 million on Miami Beach, the seller told the WSJ. WeWork cofounder and former CEO Adam Neumann is set to buy two properties for $44 million on Miami Beach's Bal Harbour marina, the Wall Street Journal first reported on Wednesday. The adjacent plots of land cover an area of 50,000 square feet, including space on the waterfront, the seller, Joseph Imbesi told the Journal. The Journal reported that Brett Harris of Douglas Elliman, who was representing the buyer, couldn't immediately be reached for comment. Neumann in April sold his San Francisco Bay Area home for $22.4 million, despite listing the home for $27.5 million in August.
Persons: Adam Neumann, Joseph Imbesi, He's, Imbesi, aren't, Neumann, Tony Imbesi, Brett Harris, Douglas Elliman, couldn't, Rebekah Neumann, Katie Warren Organizations: Miami, Wall Street Journal, San, San Francisco Bay Area, SoftBank Locations: Miami Beach, Francisco's Bay, Miami Beach's, Bal Harbour, San Francisco Bay, Israel, WeWork
WeWork founder Adam Neumann is in contract to buy adjacent properties on Miami Beach’s Bal Harbour Marina for $44 million. In March, Mr. Imbesi listed a different property at the mouth of the Bal Harbour Yacht Club marina for $65 million. “He’s got a clear view of the Bal Harbour yacht basin,” said Mr. Imbesi, who said his son Tony Imbesi was instrumental in developing the site. He said they gave Mr. Neumann a $1 million allowance for unfinished construction. Securities filings in May show WeWork gave Mr. Neumann a stock award worth roughly $245 million, The Wall Street Journal reported.
Persons: Adam Neumann, Joseph Imbesi ., Imbesi, “ He’s, , Tony Imbesi, Neumann, WeWork Organizations: Street Journal, Mr, Securities Locations: Miami Beach’s
A record year for RaineIn Raine's investment-banking business, Jeff Sine was one of the top dealmakers in America in 2020. After facing off as rival media bankers for years, Joe Ravitch and Jeff Sine banded together to found The Raine Group. For Sine, Masa could hardly have been a better client to have throughout Raine's 12-year run. Masayoshi Son and Rupert Murdoch, News Corp's founder, were both clients of Jeff Sine and also collaborated on deals around the turn of the century. Moelis assured McDermott he was assembling a murderer's row, with Jeff Sine as Exhibit A.
Persons: Jeff Sine, Rupert Murdoch, , Masa, Donald Trump, Trump, SoftBank, Trump's, Joe Ravitch, behemoths, Goldman Sachs, Morgan Stanley, Ari Emanuel, Sine, Obama, Masa's, Raine, Foxconn, could've, wasn't, WeWork Adam Neumann, who's, Jeff, Eric Hippeau, Lerer, Neumann, Raine didn't, Ben Gabbe, Ravitch, Steve Ballmer, Joe Tsai, bloomer Sine, bloomer, Cromwell, Margaret Thatcher, Fields, Morgan Stanley's, Steve Rattner, It's, I've, Sine's, there's, pedigreed schmoozers, didn't, chummed, Tony, That's, Emanuel, Masayoshi Son, Bill Ziff, Ziff, Davis, SoftBank didn't, Sheldon Adelson, Hippeau, ADRIAN DENNIS, Rupert Murdoch's, Jeff didn't, Chris Harland, Jonathan Knee, Morgan, Harland, Murdoch, he'd, Paul Taubman, Ken Moelis, Moelis, Jeff McDermott, Salomon Brothers, Ken, McDermott, Nomura Greentech, Aryeh Bourkoff, Navid Mahmoodzadegan, Mary Meeker, " McDermott, Sine wasn't, Samira, JASON AUGUSTINE, Patrick McMullan, they'd, Robert Redford, Ravitch's, Joe, Endeavor's, William Morris, meanwhile, Marc Andreessen, Egon Durban, Alipay —, Adam Neumann, Elliott, it's, Jeff — I'm, SoftBank's, Knee, Raine Group's, DraftKings, Beachbody, Huuuge, Jason Schretter, Colin Neville, Houlihan Lokey, Perella Weinberg Organizations: UBS, Time Warner, Viacom, Sprint, Mobile, Verizon, AT, Republican, Trump, Trump Tower, Masa, Vice Media, Raine Group, Raine In, The, New York Times, Los Angeles Clippers, Brooklyn Nets, UFC, F.W, Woolworth, Ivy League, American University, State Department, University of Southern, Sullivan, US Securities and Exchange, British Telecom, Manhattan's Rockefeller Center, Mitsubishi Estate, Lazard, Endeavor, World Wrestling Federation, WWE, Asahi Shimbun, PC Magazine, Davis Publishing, Ziff, Davis, Trade, Yahoo, Computer Shopper, Corp's, Getty, Rupert Murdoch's News Corp, SoftBank, UBS Masa, Forbes, News Corp, CBS, AOL, Moelis, Telewest, Alibaba, Sine, Sundance Channel, Cablevision, Goldman, Wall Street, LA Clippers, soccer, Manchester City, Silver, Ant, Federal Communications Commission, Justice Department, Vision Fund, Elliott Management, Nvidia, Columbia Business School, Univision, Televisa, Nasdaq, Evercore, Perella Weinberg Partners Locations: Trump, Midtown Manhattan, Sine, America, Korean, Tokyo, New Providence , New Jersey, Washington , DC, University of Southern California, New York, London, United Kingdom, Morgan, West, Raine, SoftBank's Tokyo, Masa, Forstmann, Comdex, Yahoo Japan, AFP, DLJ, San Francisco, Alibaba, Yahoo China, Sagaponack , New York, Abu Dhabi, Mubadala, New, SoftBank, Raine's, SoftBank's, SPAC, Spanish, Polish, Warsaw
Verizon turns on commercial private 5G in U.S.
  + stars: | 2021-06-10 | by ( Supantha Mukherjee | ) www.reuters.com sentiment -0.79   time to read: +2 min
REUTERS/Brendan McDermid/File PhotoVerizon Business (VZ.N) on Thursday launched its first commercially available private 5G network in the U.S. to offer businesses and government departments high-speed indoor or outdoor connectivity. Private 5G networks remove the need for businesses to jostle for speed with others on a public network and help enable data-intensive applications that use computer vision, augmented reality and machine learning to increase productivity. Verizon has been trialing private 5G with several customers, including Associated British Ports, and have partnered with the likes of Microsoft (MSFT.O) and Amazon (AMZN.O). The private 5G network, managed by Verizon, would keep all cellular traffic on the premises of the customer to increase security, while authorised remote users can still access applications. Verizon is seeing a lot of demand from financial institutions to increase speed of trading flows using 5G, and warehouses, which are planning to use robots and autonomous vehicles, Sampath said.
Persons: Brendan McDermid, Sampath Organizations: Verizon, REUTERS, Private, Associated, Associated British Ports, Microsoft, Corning, Tyndall Air Force Base, Marine Corps Air Station Miramar, Nokia, Samsung, Thomson Locations: New York City, U.S, Associated British, WeWork
Advising SoftBank at the meeting was Jeff Sine, a longtime media investment banker and cofounder of The Raine Group. A record year for RaineIn Raine's investment-banking business, Jeff Sine was one of the top dealmakers in America in 2020. After facing off as rival media bankers for years, Joe Ravitch and Jeff Sine banded together to found The Raine Group. For Sine, Masa could hardly have been a better client to have throughout Raine's 12-year run. Masayoshi Son and Rupert Murdoch, News Corp's founder, were both clients of Jeff Sine and also collaborated on deals around the turn of the century.
Persons: Jeff Sine, Rupert Murdoch, , Masa, Donald Trump, Trump, SoftBank, Trump's, Joe Ravitch, behemoths, Goldman Sachs, Morgan Stanley, Ari Emanuel, Sine, Obama, Masa's, Raine, Foxconn, could've, wasn't, WeWork Adam Neumann, who's, Jeff, Eric Hippeau, Lerer, Neumann, Raine didn't, Ben Gabbe, Ravitch, Steve Ballmer, Joe Tsai, bloomer Sine, bloomer, Cromwell, Margaret Thatcher, Fields, Morgan Stanley's, Steve Rattner, It's, I've, Sine's, there's, pedigreed schmoozers, didn't, chummed, Tony, That's, Emanuel, Masayoshi Son, Bill Ziff, Ziff, Davis, SoftBank didn't, Sheldon Adelson, Hippeau, ADRIAN DENNIS, Rupert Murdoch's, Jeff didn't, Chris Harland, Jonathan Knee, Morgan, Harland, Murdoch, he'd, Paul Taubman, Ken Moelis, Moelis, Jeff McDermott, Salomon Brothers, Ken, McDermott, Nomura Greentech, Aryeh Bourkoff, Navid Mahmoodzadegan, Mary Meeker, " McDermott, Sine wasn't, Samira, JASON AUGUSTINE, Patrick McMullan, they'd, Robert Redford, Ravitch's, Joe, Endeavor's, William Morris, meanwhile, Marc Andreessen, Egon Durban, Alipay —, Adam Neumann, Elliott, it's, Jeff — I'm, SoftBank's, Knee, Raine Group's, DraftKings, Beachbody, Huuuge, Jason Schretter, Colin Neville, Houlihan Lokey, Perella Weinberg Organizations: UBS, Time Warner, Viacom, Sprint, Mobile, Verizon, AT, Republican, Trump, Trump Tower, Masa, Vice Media, Raine Group, Raine In, The, New York Times, Los Angeles Clippers, Brooklyn Nets, UFC, F.W, Woolworth, Ivy League, American University, State Department, University of Southern, Sullivan, US Securities and Exchange, British Telecom, Manhattan's Rockefeller Center, Mitsubishi Estate, Lazard, Endeavor, World Wrestling Federation, WWE, Asahi Shimbun, PC Magazine, Davis Publishing, Ziff, Davis, Trade, Yahoo, Computer Shopper, Corp's, Getty, Rupert Murdoch's News Corp, SoftBank, UBS Masa, Forbes, News Corp, CBS, AOL, Moelis, Telewest, Alibaba, Sine, Sundance Channel, Cablevision, Goldman, Wall Street, LA Clippers, soccer, Manchester City, Silver, Ant, Federal Communications Commission, Justice Department, Vision Fund, Elliott Management, Nvidia, Columbia Business School, Univision, Televisa, Nasdaq, Evercore, Perella Weinberg Partners Locations: Trump, Midtown Manhattan, Sine, America, Korean, Tokyo, New Providence , New Jersey, Washington , DC, University of Southern California, New York, London, United Kingdom, Morgan, West, Raine, SoftBank's Tokyo, Masa, Forstmann, Comdex, Yahoo Japan, AFP, DLJ, San Francisco, Alibaba, Yahoo China, Sagaponack , New York, Abu Dhabi, Mubadala, New, SoftBank, Raine's, SoftBank's, SPAC, Spanish, Polish, Warsaw
Companies from Google to WeWork want to help employers cut down on Zoom fatigue with a new approach to communications: holograms for the workplace. WeWork last month announced a partnership with ARHT Media Inc., a hologram technology company, to bring holograms to 100 WeWork buildings in 16 locations around the world. The companies say holograms and related technology will soon become common in conference rooms all over the world. Although the companies were experimenting with holograms before the pandemic, they say the past year created a more urgent need for them. The Portl holograms appear on a 7-foot tall booth called the Epic or a 24-inch box called the Mini.
Persons: , Brianne Kimmel, ” Ms, Kimmel, Kanishka Chauhan, WeWork, , Hamid Hashemi, Mr, Hashemi, Christoph Grainger, Herr, Tim Draper, David Nussbaum, Marie Alcántara Organizations: Google, Inc, ARHT Media Inc, Microsoft, Microsoft Corp, WorkLife Ventures, Gartner Inc, Portl Inc, IWC, Portl Locations: New York, Los Angeles, Miami, Swiss, ann
SoftBank Investment Advisers, which manages the Japanese conglomerate's Vision Fund for tech investing, said Wednesday it will launch its diversity-focused Emerge accelerator program in Europe. SoftBank says it has invested $5 million across 13 start-ups in the program so far. Now, SoftBank is bringing Emerge to Europe — but with a twist. Start-up accelerator programs are a common way for entrepreneurs to get access to mentorship in the early days of building their company. Many well-known tech firms today applied for accelerator schemes and went on to launch successful businesses, including Stripe, Airbnb and Coinbase.
Persons: Uber, Oliver Holle, Speedinvest Organizations: Investment Advisers, Fund, WeWork Labs, CNBC, Cherry Ventures, Kindred Locations: Europe, U.S, Speedinvest
Shared offices’ delayed revival is bad for WeWork
  + stars: | 2021-06-07 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
A WeWork office is seen in San Francisco, California, U.S., September 30, 2019. REUTERS/Kate MunschShared office provider IWG (IWG.L) is straining a jam-tomorrow promise. The New York-based shared office provider agreed in March to go public in a deal with blank-cheque firm BowX Acquisition Corp (BOWX.O) that values it at $9 billion. But IWG’s revelation of weak occupancy suggests shared offices are not yet benefitting from changes to working models. The 5 billion pound office owner’s shares are down 12% since March last year; IWG is now down 30%.
Persons: Kate Munsch, Mark Dixon, IWG, Aimee Donnellan Organizations: REUTERS, BowX Locations: San Francisco , California, U.S, New York
WeWork says its London offices will have touchless coffee machines that work by scanning a QR code. The tech firm Drift is axing individual desks, while the finance giant KPMG may cut office space. The commercial real-estate firm WeWork is planning to introduce touch-free coffee machines in all its offices across London. To use the machines, people working in WeWork offices would download a smartphone app and scan a QR code on the coffee machine. Lloyds Banking Group is also planning to cut its office space by 20% over the next two years, The Guardian reported in April.
Persons: WeWork, Mathieu Proust, Proust, Anita Williams Woolley, Woolley, Sandeep Mathrani, Mathrani, David Cancel, Cancel, Kevin Hogarth, Hogarth, Justin Small, Small Organizations: KPMG, US Centers for Disease Control, Prevention, WeWork, Carnegie Mellon University, Wall, Staff, KPMG UK's, Lloyds Banking Group, Guardian, Lloyds, HSBC, Strategy Locations: London, Boston
There's no such thing as a free lunch – except when big companies want to get their employees back to the office during a pandemic. JPMorgan Chase CEO Jamie Dimon has summoned his U.S. workers back to the office, at least on a part-time basis, by July. For some firms, like Goldman, free meals began last year as a necessary convenience because so many local restaurants had shuttered, giving employees few lunchtime options. "A lot of these firms are reopening their offices and they're using food as the carrot to bring people back," Rao said. Investment banks including Credit Suisse and Cowen and asset manager Neuberger Berman are subsidizing employee meals through Sharebite, according to a person with knowledge of the arrangement.
Persons: Bill De, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Goldman, Dilip Rao, Rao, They've, Neuberger Berman Organizations: New York, JPMorgan, Labor, Pew Research Center, McKinsey, WeWork, Credit Suisse Locations: New York
In it, Galloway talks about famous CEOs, from Yahoo's Marissa Mayer to WeWork's Adam Neumann, who cost their companies millions. I've lost a lot of other people's money. Working with OPM (i.e., Other People's Money) is often phrased as a positive, but the real luxury is to be in a position to lose your own capital. That's $9.9 billion turned to ash in four years (or 13.5 Burj Khalifas), for a DBB of $6.8 million. That equates to an impressive $7.8 million DBB.
Persons: Scott Galloway, Galloway, Marissa Mayer, WeWork's Adam Neumann, I've, there's, we've, Daily Benjamin Burn ™, Benjamins, they've, Benjamin Burn, Jeffrey Katzenberg, Meg Whitman, Roku, Jeff, Meg immolated, Gray Lady, Jesus …, Meg, Mayer, That's, Adam Neumann, Softbank, Neumann, Randall Stephenson, John Stankey, you've, Stephenson, Stankey, Steve Ballmer's, Ballmer, Bernie Madoff, Madoff, Pierre Cardin, Hartmann, he'd, He's, , Scott Organizations: NYU Stern, Daily, Burj, New York Times Company, Board, Google, Rockefeller, Yahoo, Verizon, Gulfstream, DirecTV, Mobile, Warner, Microsoft, Nokia, Daimler, Benz, Chrysler, Izod, & $ Locations: America, China, Alibaba, Americas
Nearly two years ago, SoftBank Group Corp. sought to part ways with WeWork co-founder Adam Neumann when it bailed out the shared-office company. Securities filings from earlier this month show WeWork in February gave Mr. Neumann an enhanced stock award worth roughly $245 million, a benefit that wasn’t extended to other early shareholders and hasn’t been previously reported. The deal was part of a renegotiation of the former chief executive’s giant 2019 exit package meant to end a long-running dispute between him and SoftBank and help clear the way for a public listing for WeWork, according to people familiar with the matter. In addition, the final package gave him nearly $200 million in cash, let him refinance $432 million in debt on favorable terms and allowed an entity Mr. Neumann controls to sell $578 million in WeWork stock. The stock sale was open to all investors while the other benefits were reserved for Mr. Neumann.
Persons: WeWork, Adam Neumann, Neumann, hasn’t Organizations: SoftBank Group Corp, Mr
Flex-office company Industrious told Insider that it acquired competitor Breather for $3 million. Breather had raised over $130 million, but closed all of its locations last year after the pandemic hurt demand for flex space. "We're moving from a world where companies laid claim to one specific space all the time to one where companies will have a mix of spaces," Hodari told Insider. Hodari told the Wall Street Journal in February that his company had taken over four workspaces from competitors, and plans to take over 30 to 40 more. With the acquisition of Breather, Industrious will delve deeper into that category of just-in-time office spaces.
Persons: Breather, Hodari, Jamie Hodari, CBRE, Knotel, Newmark, Regus, Serendipity Lab's, John Arenas, Allwork.Space, WeWork, Josh Freed, Freed Organizations: Breather, Plan Investment, Wells, Wells Fargo Strategic Capital, Wall Street Locations: Canada, Hudson, New, York, Brookfield, Wells Fargo
“Luckily, what the flexible office industry has going for it is the ability to be flexible with leases.”The pandemic gave WeWork an opportunity to “reinvent” itself, said Marcelo Claure, executive chairman of WeWork and chief operating officer of SoftBank, which owns about 80 percent of WeWork. Now, demand for WeWork space is "higher than it was prior to the pandemic,” he said last week at a Bloomberg Businessweek virtual summit. Facebook, which leases WeWork office space in San Antonio, Texas, said it will not require workers to return to the office. Like many building tenants, WeWork has struggled with rent collection and was even accused of skipping out on paying millions of dollars of its own rent. Separately, a group of WeWork tenants sent a letter to the company last year demanding that it discontinue rent collections due to the pandemic.
Persons: , Daniel Ismail, , Marcelo Claure, WeWork, Masayoshi Son, Sandeep Mathrani, ” Julia Sullivan, Alan Klement, Klement, CBRE, Dropbox, Ismail, ” Ismail, Mathani, Walter & Samuels, Walter, Samuels, Jim Walden, Walden Macht, Haran, Paul Leonard, ” Leonard Organizations: Green, Bloomberg Businessweek, NBC News, WeWork, NBC, “ Dropbox Studios, Facebook, Financial Times, CNBC, State Locations: WeWork, New York City, San Antonio , Texas, North America, Green, Manhattan, New York County
WeWork posted a $2.1 billion loss for the first quarter of 2021. It also said it had lost 200,000 members, more than a quarter of its membership, over the past year. Office-sharing startup WeWork on Thursday reported that it had lost $2.06 billion in the first quarter of 2021, and more than a quarter of its members over the past year. Total occupancy of WeWork office spaces stepped up to 50% in the first quarter compared to 47% in the fourth quarter of 2021, the firm said. The company had 490,000 members in the first quarter, compared to 693,000 members in March 2020, according to the results.
Persons: WeWork, Adam Neumann, Neumann Organizations: Wall Street Journal, BowX
WeWork reports quarterly loss of nearly $2.1 billion ahead of public listing
  + stars: | 2021-05-20 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: A man walks out of a WeWork space in the Manhattan borough of New York City, New York, U.S., October 4, 2019. Total occupancy ticked up to 50% in the first quarter compared to 47% in the fourth quarter, the company said. WeWork in March agreed to go public through a merger with BowX Acquisition Corp, a special purpose acquisition company, in a deal that valued it at $9 billion. WeWork said it had 490,000 members in the first quarter, compared to 693,000 in March 2020. The company said it incurred restructuring costs of $494 million, driven by non-cash SoftBank stock purchases and a settlement with Neumann.
Persons: Carlo Allegri, WeWork, Adam Neumann’s, Neumann, WeWork’s, SoftBank Organizations: REUTERS, BowX, SoftBank, Corp Locations: Manhattan, New York City , New York, U.S, Neumann
WeWork posts $2.1 billion loss in Q1
  + stars: | 2021-05-20 | by ( ) www.cnbc.com sentiment -1.00   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWeWork posts $2.1 billion loss in Q1Deirdre Bosa joins 'Closing Bell' to report WeWork's financial losses in its first quarter results.
Persons: Deirdre Bosa
WeWork reports quarterly loss of nearly $2.1 bln ahead of public listing
  + stars: | 2021-05-20 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Total occupancy ticked up to 50% in the first quarter compared to 47% in the fourth quarter, the company said. WeWork in March agreed to go public through a merger with BowX Acquisition Corp (BOWX.O), a special purpose acquisition company, in a deal that valued it at $9 billion. SoftBank Group Corp (9984.T) said it would retain a majority stake in the company after the merger. WeWork said it had 490,000 members in the first quarter, compared to 693,000 in March 2020. The company said it incurred restructuring costs of $494 million, driven by non-cash SoftBank stock purchases and a settlement with Neumann.
Persons: WeWork, Adam Neumann's, Neumann, WeWork's, SoftBank Organizations: BowX, SoftBank Group Corp, Thomson Locations: Neumann
JPMorgan's and WeWork's CEOs said remote work doesn't work for young and engaged employees. And experts told Insider they think being in the office has benefits for young workers that they might only get by coming into the office. A PwC survey asked 1,200 US workers how productive they were feeling working from home. Gajendran's research area includes remote work and virtual teams. Gajendran said based on pre-pandemic research, there doesn't seem to be a link between being engaged and working remotely.
Persons: Jamie Dimon, Sandeep Mathrani, Gen Zers, Gen, PwC, Fortune, Andrea Alexander, Ravi, Hannes Schwandt, Insider's Juliana Kaplan, Hillary Hoffower, Schwandt, Julia Lamm, Lamm, Dimon, Goldman Sachs, Alexander, aren't, there's, Gajendran, WeWork's Mathrani Organizations: Research, Summit, JPMorgan, Everything, Business, Service, Microsoft, McKinsey, Florida International University, Northwestern University, Services, Conference, LinkedIn
WeWork CEO Sandeep Mathrani said he didn't intend to "cast a negative light" on working from home. He said last week that only the "least engaged" employees want to continue working remotely. WeWork's CEO has responded to the online backlash surrounding his comments on working from home. Those who are least engaged are very comfortable working from home," Mathrani said. Aaron Levie, CEO of cloud content management firm Box, and Uber Dara Khosrowshahi both joked online that the most engaged employees were those who use Box and Uber products religiously.
Persons: Sandeep Mathrani, It's, Mathrani, Aaron Levie, Uber Dara Khosrowshahi, WeWork Organizations: Tech, Service, LinkedIn
WeWork is adopting a hybrid model where staff work from three locations during the week. WeWork staff will work three days in the office, one day in a WeWork location, and one day from home. Commercial real estate firm WeWork is going the extra mile with its hybrid work model as it plans to bring staff back to the office. "The notion of hybrid working is a notion of flexibility," said Proust, adding that the hybrid model trend is accelerating. What do you think of this new hybrid working model?
Persons: WeWork, Mathieu Proust, Proust, — it's Organizations: Twitter Locations: WeWork, London, WeWork's, Waterloo
He said 14 of SoftBank's Vision Fund companies had an IPO or other exit over the last 12 months, up from eight exits the year before. DoorDash, another Vision Fund portfolio company, also had a successful IPO last year. Still, Masa Son seemed optimistic about WeWork when asked if he had any regrets about his investments. Masa Son said most investments he missed happened because of the price to get in on an investment. "So you have to have a pretty long view... and you have to imagine and so on," Masa Son said.
Persons: Masayoshi Son, CNBC's Andrew Ross Sorkin, Masa Son, SoftBank, GoPuff, WeWork, Adam Neumann, Masa Organizations: SoftBank's Vision Fund, Vision Fund, Coupang, DoorDash, Fund, Aurora
Masa Son on botched WeWork IPO, missed opportunity to invest in Airbnb
  + stars: | 2021-05-13 | by ( Andrew Ross Sorkin | ) www.cnbc.com sentiment -1.00   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMasa Son on botched WeWork IPO, missed opportunity to invest in AirbnbOff the heels of a blowout quarterly report, SoftBank CEO Masayoshi Son told CNBC’s Andrew Ross Sorkin about his regrets with the botched WeWork IPO and investments he missed, such as Airbnb.
Persons: Masa, Masayoshi Son, CNBC’s Andrew Ross Sorkin
Elon Musk Makes a Hard Swerve on Bitcoin
  + stars: | 2021-05-13 | by ( Andrew Ross Sorkin | Jason Karaian | Sarah Kessler | ) www.nytimes.com + 0.00   time to read: +2 min
And an effort yesterday to woo Republican support for President Biden’s $2.3 trillion infrastructure proposal appeared to gain no converts. “Those who are least engaged are very comfortable working from home.”— Sandeep Mathrani, WeWork’s C.E.O., at a Wall Street Journal event. Regular income is taxed at more than double this rate, when state and local levies are taken into account. “For far too long, hedge fund managers working on Wall Street have not paid their fair share,” Manchin said in a statement. The Democrats have narrow majorities in both chambers, but the loophole has proved hard to close.
Persons: Biden’s, Jared Bernstein, , , Sandeep Mathrani, WeWork’s, Joe Manchin, doesn’t, ” Manchin, Donald Trump, Larry Kudlow, “ I’m, Biden Organizations: Washington Post, National Economic Council, Treasury Department, Publicly, Democratic, Democrat, Investment, Taxation, , Democrats Locations: West Virginia
WeWork's Sandeep Mathrani said that only the "least engaged" workers want to stay at home. As a commercial real estate firm, WeWork has a vested interest in workers returning to the office. Tech CEOs are piling on online following the WeWork chief exec's assertion that only the "least engaged" employees want to keep working from home. Those who are least engaged are very comfortable working from home," Mathrani said. Aaron Levie, CEO of cloud content management firm Box, pointed out the absurdity of viewing your most engaged employees as the ones who use your product the most.
Persons: WeWork's Sandeep Mathrani, It's, Uber's Dara Khosrowshahi, Box's Aaron Levie, WeWork, Sandeep Mathrani, Mathrani, haven't, Aaron Levie, Dara Khosrowshahi, Uber, Marcelo Claure —, Organizations: Tech, Service Locations: WeWork
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