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points by cmiles8 3 days ago | 0 comments
Anyone involved in WeWork 1.0 got wiped out. So there was nobody laughing there. WeWork as a concept lived on, but suggest you read how bankruptcy works.
[–] missedthecue 3 days ago
Well, not wiped out. In bankruptcy, lenders become the new equity holders. But yes, a major haircut on the loaned funds.
[–] cmiles8 3 days ago
The investors and employee equity holders got wiped out. Creditors are generally not seen as investors, at least until they walk away owning the thing after bankruptcy.