Leftist tech companies suffer from the same delusion as leftist ideology: It’s all hype, fiction and bulls##t, packaged as consensus reality
by: Ethan Huff
NaturalNews.com
Thursday, May 09, 2019
The deranged manner in which leftist Democrats perceive and engage reality is strikingly similar to the deceitful ways in which many tech companies operate these days: by pretending that up is down, male is female, black is white, and losses are profits.
WeWork is a perfect example of this, as reports indicate that the collaborative workspace startup is soon planning to introduce a so-called “community-adjusted” public offering that, for all intents and purposes, is based on nothing more than a financial sleight of hand.
While WeWork has supposedly doubled its revenues in recent years, its losses have similarly spiked by pretty much the same amount – meaning the company is hardly financially stable. But by shuffling around and quite literally making up numbers, WeWork is hoping to attract gullible investors whom it can trick into believing that its business model is somehow “innovative” as opposed to fraudulent.
In truth, WeWork is about as financially rooted as Elon Musk’s Tesla corporation, which is currently the number one most-shorted stock on the market. Besides bearing an enormous amount of debt, WeWork was also recently suspending from the Moody’s rating system for providing a “lack of information.”
“With this heavy debt load, the company would be poised to topple into bankruptcy during an economic downturn due to the fundamental dislocation between its long-term debt obligations and its short-term leases,” Zero Hedge reports.
“And let’s not forget the allegations of self-dealing by the company’s CEO that have been raised in the business press.”
While WeWork has supposedly doubled its revenues in recent years, its losses have similarly spiked by pretty much the same amount – meaning the company is hardly financially stable. But by shuffling around and quite literally making up numbers, WeWork is hoping to attract gullible investors whom it can trick into believing that its business model is somehow “innovative” as opposed to fraudulent.
In truth, WeWork is about as financially rooted as Elon Musk’s Tesla corporation, which is currently the number one most-shorted stock on the market. Besides bearing an enormous amount of debt, WeWork was also recently suspending from the Moody’s rating system for providing a “lack of information.”
“With this heavy debt load, the company would be poised to topple into bankruptcy during an economic downturn due to the fundamental dislocation between its long-term debt obligations and its short-term leases,” Zero Hedge reports.
“And let’s not forget the allegations of self-dealing by the company’s CEO that have been raised in the business press.”
Putting your money into WeWork is about as safe a bet as gambling on transgender surgery really turning a man into a woman
Put plainly, WeWork’s “community-adjusted” earnings before interest, tax, depreciation and amortization (EBITDA) numbers are being completely made-up, much like how the LGBT mafia invented the false idea that it’s possible for a person to change his natural biology and become the opposite sex, simply by cutting off body parts and wearing different clothing.
Zero Hedge describes WeWork’s EBITDA as being “whatever you want it to be,” pointing to charts showing anomalous numbers that appear to simply change whenever WeWork wants them to change.
The Rest…HERE
