from Hacker News

WeWork Didn’t Blow Up Without Help

by sushicalculus on 10/22/20, 12:58 AM with 1 comments

• by rossdavidh on 10/22/20, 2:10 AM

  It's an interesting analysis, although much of it I already knew: WeWork did stupid things largely because they had too much money, and had to spend it somehow. But what I guess I hadn't really fully comprehended before, was that SoftBank did the same thing; they made far-too-large investments in companies like WeWork because they had far too much money from Saudi Arabia, and they had to invest it somehow.

  And really, come to think of it, you could say the same about Mohammed bin Salman (aka MBS, the de facto ruler of Saudi Arabia). He had to put the enormous amount of oil money to work outside of oil somehow, and couldn't take the time to learn how to invest it wisely, because we're probably never seeing $100/barrel oil again. Too much money with too little time to spend it, basically guarantees you will spend it unwisely.