Money Stuff: We Wants a New Boss

Here’s a risk factor in the most recent draft prospectus for the We Co.’s initial public offering:

It is a common enough risk factor in IPOs of startups run by their visionary founders. I suppose that, if you are one of those founders, putting that risk factor in the prospectus enhances your job security for a while after the IPO. If you mess up and the board calls a meeting to fire you, you can point to the risk factor and say: “Don’t fire me! You just told shareholders that I was essential! If you fire me now, boy will you have egg on your faces!”