This should’ve happened a long time ago. It’s funny, a lot of colleagues told me to join WeWork back when Sebastian Gunningham joined, because they were hiring like mad. Things like this indicate there is too much available capital going around, and that financiers are competing for investment opportunities, which usually leads to bubbles.
There’s little doubt that this tech is interesting, but that doesn’t mean that it’s a sound acquisition in the same way Instagram was. This is similar to the Oculus acquisition, which a cursory DuckDuckGo search shows wasn’t profitable in 2016 and I doubt much has changed since then.
I try to stay apolitical in this newsletter as much as possible, but this video of Uighur Muslims in a Chinese camp surfaced this week. I have a feeling history will not look kindly on the world’s inaction on this.
I know I’m biased given I’m an American citizen, but I don’t think this kind of posturing is going to end well. No offense to government officials, but typically they’re not the most adept businessmen. I suspect they’ll likely get in the way or slow things down at these businesses just when these businesses need to be as lean as possible.
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