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Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

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Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#111

Post by JaimeThompson »

setr wrote: post #63
calcifer wrote: post #56

Earlier quoted context omitted.

Quite right, like this [1] 100% factual not at all bullshit scientifically sound article on climate change. Thought provoking indeed. [1] https://www.zerohedge.com/news/2019-09-05/5-surprising-scien...

..? I’m not seeing anything on that page that isn’t based on “facts”, and none of it seems obviously incorrect..

ZH does have a lot of conspiracy type articles that directly state that major world changing events aren't really and that we are being lied to about them which makes me question how much they of what they produce is based on facts and how much is based on their conspiratorial way of thinking. It makes it hard to trust what they are saying sometimes.

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#112

Post by vonmoltke »

kasey_junk wrote: post #71
jbob2000 wrote: post #4

We're going to look back on this company and say to ourselves "why did we fund a company to sign rental agreements". I jest, but WeWork is one of those strange entities that's greater than the sum of its parts. If the magic goes or the brand tarnishes a little, then the whole thing goes poof.

WeWork is offering its customers something of value, that while not unique, was rare. That it has to do largely with changing the normal contracts in their industry doesn’t matter much. The issue is not with what they are selling it’s with how they are funding it. I think this story says a lot less about We than it does about SoftBank.

Rare? Regus was widespread in this space before WeWork was a twinkle in Adam Neumann's eye.

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#113

Post by knd775 »

rwmurrayVT wrote: post #100
Lazare wrote: post #93

Earlier quoted context omitted.

Wow, you're the guy who ran the fake tender offer for Fitbit, made $3k, and went to prison? Ouch. :)

Well, most of that is accurate. Also forfeiture doesn't account for the fact that you may have paid capital gains tax. I feel like they really shafted me on that one.

Did you actually serve the full two years? That would've had you getting out pretty recently.

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#114

Post by beager »

t0astbread wrote: post #66
kgc wrote: post #21

Earlier quoted context omitted.

You may have answered your own question.

Yeah but I can't just go to an investor and say "we rent out offices" (in a fancy way) "but we're worth billions" and actually get billions... or can I?

Not with that attitude, you can't.

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#115

Post by generatorguy »

jeltz wrote: post #107
stewy85 wrote: post #37

I fail to see how this company could survive a recession. The first thing companies do during a recession is reduce their headcount. Less headcount means less desks required.

Many of their competitors have survived recessions just fine. You just have to either be diversified or have enough cash reserves. The issue is mostly that WeWork has too high costs and a too high valuation.

Their competitors have long term leases with the tenants that we doesn’t have.

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#116

Post by generatorguy »

myalphabet wrote: post #109
navigatesol wrote: post #60

Earlier quoted context omitted.

What is insane is that they are the biggest commercial real estate tenant in some of the biggest cities in America (and London).

This is my biggest concern. Regardless of if WeWork can 'survive' a recession, my fear is that they could easily cause a recession. If WeWork starts to go under, it could cause a real estate market collapse in some of the world's largest cities.

I wonder which REITs have the most we exposure?

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#117

Post by cpach »

inetknght wrote: post #106
ht85 wrote: post #19

Tangential, but does anyone else find techcrunch UX absolutely dreadful on desktop?

I just prepend `about:reader?url=` to any TechCrunch URL and never have to deal with their dreadful UI

Which browser is that? :)

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#118

Post by _flwm »

Braighni wrote: post #27
wastedhours wrote: post #8

We must be pretty important for Softbank as a signal - even if they didn't believe in the company, allowing such a major investment take such a big hit would be rather bad. Worth them pouring a few $bn more in instead of an IPO, if only to shore up faith in the rest of their portfolio? All that being said, someone needs to be mentoring the CEO, like right now. That S1 was... not... great.

Softbank invested at a $47 billion valuation. An IPO at $20bn, that may tank afterwards, would really hurt their paper profits.

The risk may be more existential for Softbank than just knocking profits -- coming after Uber

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#119

Post by beager »

nemo44x wrote: post #11

Evidence we are not in a bubble and that markets are mostly sane currently.

Sure, but from your statement "not in a bubble" could just as easily mean "in the wake of a burst bubble" and "markets are mostly sane currently" could just as easily mean "markets are reacting to a damaging period of insanity".

Re: Troubles Mount for the We Company as Softbank Reportedly Calls for Shelving IPO

#120

Post by phry »

briandear wrote: post #92
calcifer wrote: post #56

Earlier quoted context omitted.

Quite right, like this [1] 100% factual not at all bullshit scientifically sound article on climate change. Thought provoking indeed. [1] https://www.zerohedge.com/news/2019-09-05/5-surprising-scien...

It seems like anything even remotely threatening the climate change gospel is treated just as the Catholic Church treated heretics centuries ago. AGW has ascended (descended?) into religious territory where even the slightest criticism of the “truth” is treated as blasphemous. It’s like many of the climate alarmists have turned into old school evangelicals that avoid wine and dancing out of fear it’ll rile up the dev…

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