Remember when Theranos was in its final death-throes, and out of the blue, a company named Fortress Capital threw them a $100 million lifeline? That drove me nuts, because what was supposed to happen (Theranos blowing up) got stopped. But it didn’t last. Fortress lost their empty-headed investment and Theranos resumed its self-destruction.
I felt the same way we I heard that WeWork was going public (!!!!!!!!!) by way of a SPAC company whose symbol is BOWX. It’s nice to see this morning a big red bar, and I strongly suspect before this year is over we’ll see plenty more. The fact that these two shameless grifters got crazy-rich off this little enterprise boggles the mind.
The lawyers have wasted no time with the BOWX thing, however.
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