Goldman Sachs CEO, David Solomon, defended the bank’s work on WeWork’s failed IPO, even after it cost Goldman $80 million by skleb1234
its hotly-anticipated public offering amid mounting concerns over its lack of profitability, sky-high valuation and irregular corporate governance.between private and public company valuations, which he blamed on low interest rates: The fact that money has “basically been free” has led investors to overvalue a company’s growth projections and not focus enough on its underlying earnings, he argued.
that unlike public companies, private companies are “not held to the same standard around producing information… and that’s an issue.”“I think we’ve seen a little bit of a rebalancing where the need to really think about a path to profitability is coming more sharply into focus than it might have been 18 months ago,” Solomon said at Davos.
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