Matt Levine, Columnist

Fake WeWork Rescuer Was an Hour Late

Also peak pod, first-loss funds and OpenAI’s board.

November 30, 2023 at 7:08 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Programming note: Money Stuff will be off tomorrow, back on Monday.

We talked a couple of weeks ago about a fake press release from a fake company called “Cole Capital Funds” pretending it would buy WeWork Inc. for $9 per share. The press release went out a little after 5 p.m. on Friday, Nov. 3; WeWork filed for bankruptcy the following Monday. I proposed two possible reasons someone might put out that press release: