Punters are so desperate for the Next Big Thing that they will shove money into the most speculative offerings at the most preposterous valuations. Luke Johnson , City veteran and founder of private equity firm Risk Capital Partners , has launched a scathing attack on WeWork . Citing founder Adam Johnson , who pointed to the company 's valuation being based “ more on our energy and spirituality ” , Johnson said the trendy froth surrounding WeWork does n’t change the basics : it 's a cyclical business and small businesses will need to reduce property obligations when the market turns . Pointing to the company 's spurious tax measure , Johnson said it 's rare to see so many sell ##ables in a single company .
Luke Johnson , City veteran and founder of private equity firm Risk Capital Partners , has launched a scathing attack on WeWork . Citing founder Adam Johnson , who pointed to the company 's valuation being based “ more on our energy and spirituality ” , Johnson said the trendy froth surrounding WeWork does n’t change the basics : it 's a cyclical business and small businesses will need to reduce property obligations when the market turns . Pointing to the company 's spurious tax measure , Johnson said it 's rare to see so many sell ##ables in a single company .