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WeWork’s Adam Neumann Steps Down as CEO

wsj.com

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Re: WeWork’s Adam Neumann Steps Down as CEO

#311

Post by icelancer »

warent wrote: post #279
icelancer wrote: post #260

Earlier quoted context omitted.

I was an dropout studying Economics who made the transition into data science / data analysis fairly smoothly. I'd recommend doing so. Many programmers are jealous of quantitative analysts' salaries inside tech companies. EDIT: I guess I should add I really did not care for the work and stopped after 2-3 years to start my own company. I do a lot of the same work today, but as the Founder, I obviously control the comp…

I think it's worth noting that there's a lot more to it than just the money. Sure, data scientists make more than I do as an engineer, but I would feel absolutely fucking miserable doing the job of a data scientist every day.

In fact, I was :) Check my bio.

But if the OP is really distraught about making money in tech, they will find their economics background of use.

Re: WeWork’s Adam Neumann Steps Down as CEO

#313

Post by joachim4 »

ngngngng wrote: post #17

I'm so glad I read hacker news. I almost took a job at WeWork just 2 months ago with a recruiter working very hard to convince me I'd be rich when they IPO. Now I'm at a much smaller startup called Weave which is a really phenomenal place to work. I didn't discover until recently that it's also a YCombinator company. edit: to clarify, hacker news has been extremely skeptical of WeWork for some time, due to this, I wa…

Hey, do you have any mail to contact you? I'm thinking about applying to that company. Thanks :)

Re: WeWork’s Adam Neumann Steps Down as CEO

#314

Post by wsinks »

goldcd wrote: post #256
cj wrote: post #229

Earlier quoted context omitted.

>What's the benefit to a large corporation doing this instead of lots of small companies? (The economies of scale need to outweigh the large corporate overhead.) I like this way of thinking. WeWork isn't doing anything "new" - coworking spaces have existed for years. What's the upside of having a giant corporation owning all coworking spaces, versus having many small and independent small businesses running and opera…

Well there's a clear advantage for b2b. Say you're a pretty large company and suddenly decide you want to open a dozen 'offices' in a dozen different countries. You just have to deal with one provider, one set of infrastructure etc. Plus if you decide you then want to consolidate to half-a dozen offices, it's easier to scale some up and some down. However companies like Regus have existed for ages - so not quite sure…

Weird hypothesis, but is what WeWork brings to the table that Regus doesn't is Silicon Valley brand recognition? Not that I'm in the market for office space, but I haven't heard about Regus until this comment.

Re: WeWork’s Adam Neumann Steps Down as CEO

#316

Post by op00to »

jakobegger wrote: post #96
xyzzy_plugh wrote: post #85

Earlier quoted context omitted.

That's disgusting. It should be illegal to mislead people like this. Employees aren't like A16z, they're not getting preferred shares and their primary source of income isn't likely to be investing in corps. Stuff like this can ruin people's lives.

> Stuff like this can ruin people's lives. But does it really? Sure, it sucks if you get tricked to accept a lower salary, but I'd assume that even a below average software developer salary will be enough to lead a somewhat comfortable life.

Can you give me some money? you seem comfortable. $40k ought to do it. Thanks.

Re: WeWork’s Adam Neumann Steps Down as CEO

#317

Post by WJW »

somebodythere wrote: post #105
onlyrealcuzzo wrote: post #26

Earlier quoted context omitted.

I'm interested about the buildings. A lot of people bullish on WeWork say -- "Oh, they'll just walk away from the leases. Each lease is owned by a different subsidiary. That subsidiary will just file bankruptcy. Problem solved. They'll just cut the losers, and turn up the dial on the profitable buildings." Adam got a $750M loan from WeWork, right? I'm assuming he used that loan to secure more loans to buy the buildin…

How do the negative rates benefit WeWork?

Because they are net borrowers and lower interest rates mean they have to pay less interest.

Re: WeWork’s Adam Neumann Steps Down as CEO

#318

Post by fuzz4lyfe »

jakoblorz wrote: post #301
scott_s wrote: post #289

Earlier quoted context omitted.

In addition to the advantages others listed, I think a big advantage of a large corporation is risk management. If you're a "small" company managing a handful of buildings, and something catastrophic happens to one of those buildings, that could threaten the company's existence. More so if those handful of buildings are in the same city, and all suffer from the same event (flood, hurricane, earthquake, etc.). A large…

But that doesn’t prevent small companies to just take the risk. And by doing so, they are as efficient as WeWork and compete on the same level. What counts is the product and that is the same from the small and big company.

In fact small firms may be more efficient. If they make a bad bet on some real estate they fold while WeWork has to spread that cost to all of its users and keep on moving.

Re: WeWork’s Adam Neumann Steps Down as CEO

#319

Post by GavinMcG »

rocqua wrote: post #300
609venezia wrote: post #267

Earlier quoted context omitted.

Wow. That's a surprise. I wonder what kind of stick they had to beat him into that?

I think Softbank could tank We stock by refusing to further finance them, and trying to sell them. That would also hurt Softbank though, so the question becomes, what was so bad about Neumann staying on to warrant such a stick.

You don't have to actually use the stick; maybe Neumann wasn't willing to call the bluff.

Re: WeWork’s Adam Neumann Steps Down as CEO

#320

Post by malloreon »

88840-8855 wrote: post #253
ngngngng wrote: post #17

I'm so glad I read hacker news. I almost took a job at WeWork just 2 months ago with a recruiter working very hard to convince me I'd be rich when they IPO. Now I'm at a much smaller startup called Weave which is a really phenomenal place to work. I didn't discover until recently that it's also a YCombinator company. edit: to clarify, hacker news has been extremely skeptical of WeWork for some time, due to this, I wa…

I must say, I am jealous. It seems a bit unfair to me how computer engineers are getting hired and paid so well, while my economics degree is useless and I have to fight like crazy to get a job that pays WAY less than engineers get. Honestly, I studied economics because I wanted a job that pays well - that was one of the key criteria - and now I am standing with little money and a job I hate. It sucks.

my degree is in economics and 8 years ago I taught myself iOS Engineering and since then I've been a professional software engineer.

Don't let your degree stop you from doing what you want, the resources are all there.

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