WeWork is attempting to go public by merging with BowX Acquisition, a special-purpose acquisition company. WeWork previously failed at going public in 2019 and then its business was further damaged by global economic developments starting in early 2020.

In your own opinion, why is WeWork's approach to going public (also used by some other firms) highly dubious, particularly but not exclusively for investors in BowX? At a minimum, consider the central issues of securities issuance and takeovers.