Brown Motion

Initial Public Offering.  A way for new businesses to raise capital.  Legit by all the laws of the land.  Done to death. Yet we get a bunch of surprises each year when these so called entrepreneurs attempt to convince the public to invest in their dreams. Recent history would suggest the irony and the bizarre nature of how the broader market evaluates the worth of any business. WeWork - a business founded on the idea of leasing or buying large square footage in busy metros and then renting it out for hefty premiums to other businesses with 'just in time' or 'temporary work space' needs.   This concept garnered ridiculous amount of excitement from the bankers who touted it as yet another unicorn (more on this later).  Turns out the idea of WeWork being workable was flawed.  At least in terms of its valuation.  Revenue models were broken, but marketed as gravy by Ivy league types working for large brands on wall street.  Someone figure...