Generally speaking, Softbank’s model is to manipulate private capital markets as a way of drowning out competitors with cash. For instance, there were several ‘rounds’ of WeWork investment where Softbank was buying more shares at higher valuations. WeWork ostensibly became more valuable because Son said it was more valuable, and bought shares for higher prices. And since there was no public market for these shares, the pricing of the shares was totally arbitrary. WeWork then used this cash to underprice competitors in the co-working space market, hoping to be able to profit later once it had a strong market position in real estate subletting or ancillary businesses.

Adam Fuckhead has stepped down, of course. the new crew is "cleaning house." Effectively they're murdering everyone; when you're doing "thousands" of layoffs and you only have "thousands" of employees, shit ain't great. If I had to venture a guess they're gutting the thing to IPO at any cost because if they don't IPO, a lot of the money they've sunk is in default.

As always, it's who you know. Adam Fuckhead is Gwynneth Paltrow's brother-in-law, and Goop has a $250m valuation.