Listing in the shadow of Google and Lyft ’s disappointing IPOs , the We Company faces a big challenge , according to David Erickson , a senior fellow and professor at Wharton and former Wall Street vet . While acknowledging the importance of press coverage of the company ’s valuation , Erickson noted that analysis should deal with its management and governance structure . One recent article in Forbes even called it the “most ridiculous IPO of 2019.” Many of the challenges are “ self - inflicted ” Erickson said , citing references to CEO Adam Neumann ’s poor decision making and judgement ; Neumann ’s plan to retain more than 50 % of the votes in the public shareholders ; and the extensive section on “ related party transactions " in the IPO filing . Ultimately , the deal will rest on how much confidence potential institutional investors have in whether the company can generate equity value for public investors , Erickson said .
Listing in the shadow of Google and Lyft ’s disappointing IPOs , the We Company faces a big challenge , according to David Erickson , a senior fellow and professor at Wharton and former Wall Street vet . While acknowledging the importance of press coverage of the company ’s valuation , Erickson noted that analysis should deal with its management and governance structure . Many of the challenges are “ self - inflicted ” Erickson said , citing references to CEO Adam Neumann ’s poor decision making and judgement ; Neumann ’s plan to retain more than 50 % of the votes in the public shareholders ; and the extensive section on “ related party transactions " in the IPO filing . Ultimately , the deal will rest on how much confidence potential institutional investors have in whether the company can generate equity value for public investors , Erickson said .