. WeWork's IPO had already come under fire on concerns over heavy losses and Neumann's concentrated voting powers.Kamran Ansari, venture partner at Greycroft, says this situation is different from when"You can't push [Neumann] out. You have to put him in the chairman seat, give him the president title, bring in someone else. … It's a different situation because of the control that he has over the voting stock.
Early investors "allowed it to happen, and they are now responsible for it. That's the whole issue. The issue isn't what he's done with it. The fact is he had it to begin with, but there are there a lot of companies that have it, and a lot of these potential issues will come up there, too. ... I think this hopefully is the catalyst that gets people to say, 'Enough,' because you see how it played out to its irrational end. And that's what we're seeing.
"He's the right person right now to launch a company that's going to be transformative. He does need, as a lot of people did, whether they were founding Google or Apple or Facebook, sort of what they used to call adult supervision on Wall Street, and he's probably not the person to be the long-term CEO.
TradingNation Why do you keep covering WeWork? There are infinite financial topics that are more significant than this annoying company that’s not even public yet.
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