351–360 of 551 posts
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Wow. That's a surprise. I wonder what kind of stick they had to beat him into that?
Softbank probably made it clear to him that if there is any hope to salvage the IPO and have a chance at a lucrative exit, this is the only path forward. That or they found his cereal box and threatened to call the cops.
I'm sorry, I don't understand this part. Is this a reference to something?
I'm sure I'll get downvoted for this, but I actually just signed up to be a (thankfully month-to-month) WeWork customer for a HotDesk today in Phoenix, and it's actually been a pretty great experience: Great space, nice people, reasonable IT, I was up and running and working within 30 minutes of doing my tour. And yes I've had a cup of the famous We Kombucha. This particular location just opened 3 weeks ago and is ap…
The question was whether or not it made sense to value them at 10x what competitors are. I have read that something like $10billion has been shoveled into them, and they are probably are reasonably-priced $4billion company. That doesn't mean there's no value there, just that someone paid 2.5x that value, and now can't find a buyer for 10x.
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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.
Honestly as a programmer they have a name and reputation for providing nice offices that I can rely on. I recently agreed to take a job halfway around the world (interviewing via video chat), and when they asked if I had any questions about the office I was able to say "no, it's a WeWork and that's good enough for me". Surely that's got to be valuable to that tenant company.
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WeWork has been an obvious fuckup to even casual observers for years, if people inside the company couldn't see this I really don't know what to say.
The "no meat" policy is what did it for me. The company is such a virtue-signaling joke. https://money.cnn.com/2018/07/13/technology/wework-meat-ban/...
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Do you work in commercial real estate? My father does, and would pick them and Walgreens as the most effective scaled siting operations in the US. Optimizing for absence of failed stores would be an interesting utility function for them to have, but since they own substantially all of the stores (and therefore don't have franchisee relationships to consider, where volatility for a partner might impact you disproporti…
I've seen a Walgreens that was closed in less than a year because of poor location despite being across the street from a Rite-Aid. They aren't perfect either.
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Hackernews is skeptical of many things though, sometimes hard to filter through the noise.
I find in tech, being skeptical by default is usually a good thing - perhaps not if you're an entrepreneur, but certainly if you're a developer or engineer.
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Is this part of the business model of these large, unprofitable VC-backed companies? Build a valuation to meet the 8.1bn threshold, then sell the shares to passive investors in S&P 500 index funds?
No. The S&P 500 is selected by committe. And it's 6.1bn, not 8.1bn. Mabye that's the plan for the Russell 3000, though. But it doesn't really matter except when the stock gets added to the index. The index funds and ETFs are going to rebalance their positions based on market cap and will not affect the price. These funds could affect the volatility though, since it's conceivable that with a lot of the shares locked u…
It does matter when there are inflows, if there is new money coming into index funds all the stocks in the index benefit (they funds also sell all the stocks in the index when there are outflows). Non-indexed stock are less coupled to flows in and out of trackers.
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The advantage is similar to that of a large gym chain - you can pay more to get a membership that's valid at all the WeWorks in the entire world. This is great for people who regularly travel between many large cities.
I suspect the majority of WeWork's revenue comes from people working in the same location day in, day out. Same with gym chains. People sign up for Planet Fitness because the nearest location is the most convenient, not because they plan to visit multiple locations over the course of a year (not to say there aren't people taking advantage of the multi-city aspect, just that they aren't the typical customer).
I'm sure I'll get downvoted for this, but I actually just signed up to be a (thankfully month-to-month) WeWork customer for a HotDesk today in Phoenix, and it's actually been a pretty great experience: Great space, nice people, reasonable IT, I was up and running and working within 30 minutes of doing my tour. And yes I've had a cup of the famous We Kombucha. This particular location just opened 3 weeks ago and is ap…
Towards sibling comment... I'd prefer sacred defecatory silence but the toilets are the only place I notice any music.
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Softbank probably made it clear to him that if there is any hope to salvage the IPO and have a chance at a lucrative exit, this is the only path forward. That or they found his cereal box and threatened to call the cops.
> That or they found his cereal box and threatened to call the cops. I'm sorry, I don't understand this part. Is this a reference to something?