Yet another recent display of aggressive, excessive financial engineering. This is notable in WeWork’s case for being done in a pre-IPO startup, but is inflicted every day upon lesser known companies by legions of PE firms. This is late cycle business tactics - the relentless, desperate pull of any future value - real, imagined or invented - in to the present. The result of greed, hubris, and a decade of overly loose monetary policy. That this shameful IPO is coming to market is a sign the music is coming to a stop. Batten down the hatches.