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 chairman of private equity firm Risk Capital Partners, has launched a scathing attack on WeWork. Citing founder Adam Neumann, who refers to the company's valuation being based “more on our energy and spirituality”, Johnson said the trendy froth surrounding WeWork doesn’t change the basics: it's a cyclical business and small tenants will look to reduce property obligations when the market turns. Pointing to the company's spurious profit measure, Johnson said it's rare to see so many sell signals in a single company.