31–40 of 138 posts
I will be very happy when WeWork collapses. Every time a jackass like this "graces" our industry, we are set back in the aftermath of the wake - it reinforces a false narrative that tech companies are bullshit.
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Being honest doesn’t garner press coverage. Ever hear of troubles at Twilio, PagerDuty, etc? I have not (disclaimer: no investment in either, happy customer of both).
Why would you need to disclaim that you are not an investor?
https://thisweekinstartups.com/e969
I've got a friend who runs a very successful co-working center. She competes against WeWork and said the first half of this episode is the single best discussion of the WeWork IPO.
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A true genius would increase his net worth by building a successful business. If you're not clever enough to do that though, there's always self-dealing.
It's not clear that it's possible to build a successful, long-term business by shouldering all the long-term risks of owning office space, and leasing it out at short-term rates to startups. In that situation, the smartest move is to plunder your investors and shareholders for everything they are worth.
interesting definition of "smart" you're using
I, for one, am grateful for this demonstration that transparency can work. I feel like the last several years have involved a lot of "here's someone/some company doing something really bad" and the world collectively shrugs. (I mean, lots of outrage too, but the shrugs win)
Here's a case where govt regulation (requiring the disclosure), people reporting, and individual reactions all did what they were supposed to do. (And I dont mean that the money was returned - I mean that there is sufficient pressure that he/the company actually feels a need to react).
It's a nice feeling, even if too rare.
Why does WeWork increasingly look like one of those deals on Shark Tank that starts off looking great then goes way south when the sharks start probing? I can see it now: “Wait, so we’d be investing in your business which is leasing buildings from another business that you own... but we’re not getting a piece of that action?” “Hold on, so we’d have to license the name of this company back from you and then you contin…
Will it be daytraders? Index funds? Or just “suckers” that have a fear of missing out?
I’m not trolling, I really try to understand what reasoning those people have.
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It's not clear that it's possible to build a successful, long-term business by shouldering all the long-term risks of owning office space, and leasing it out at short-term rates to startups. In that situation, the smartest move is to plunder your investors and shareholders for everything they are worth.
> the smartest move interesting definition of "smart" you're using