Startup unicorn valuations were overinflated. Neumann just found a clever way to short that market.
Good trade.
WeWork has frittered away $46.7B in value as the stock sinks below ¢50
181–190 of 274 posts
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#182Earlier quoted context omitted.
Wasn't Twitter mostly profitable, except for some hugebsttlement with the FCC (?)? Until recently that is.
Elon said that when he acquired Twitter it was burning $4 million per day.
If your source would have been Twitters SEC filings, I woupd believe it.
By now, I wouldn't believe Elon tellong me it's raining while being soaked in rain, waiting for one the millions of Tesla's robot taxis to pick me up.
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#183Due to life events, I started looking for a new office for our team last week. I had always considered WeWork to be too hip for my taste. So when a colleague suggested it, I thought they were joking.
But they weren't and it actually wasn't a bad idea. Good location, nice interior, "flexible" plans.
What I found thought is that buying these flexible plans is very clunky. For example, I wanted to try things out at first by getting hot desks for 5 people for a day. Installed their app and realized that I can book for only myself. Their support said that every employee must download the app and purchase their own hot desk.
This is extremely stupid! I am not going to ask the team to pay for their office and then reimburse them. The best solution I have is to make 5 accounts on the phones that I have access to.
So here I am with a service of theirs that I want to get, but they don't care enough to sell it to me.
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#184Earlier quoted context omitted.
Is success making lot of money for yourself. Or building a business that in general makes money and world a better place. That is generates societal wealth.
The most fucked up thing I heard is about people investing in artificial wombs. You want to know the actual reason they’re doing this? It’s not because some restrictive laws were passed or to keep the physical toll low on the mom, etc. maybe it is, but that would be found in the marketing slide. “We are too generous with how much leave we offer” Everything is to extract as much value out of everyday things as possibl…
As predicted in the final episode of Max Headroom, titled Baby Grobags.
https://www.dailymotion.com/video/x4jl2mm
I don't know if it's the best intro to the series, it was the final episode in fact.
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#185Earlier quoted context omitted.
He worked hard for it! lmao edit: to be serious... there's certainly a lot of difficulty in achieving what he did no matter the failure, but when we use the word work to compare an employee worker and a ceo owner, let's be more specific with what we mean. we all understand work here and we talk about its structures day in day out. a ceo's day to day work has you running memeified mental contortions to understand how…
A single parent working three jobs just to cover rent and food works hard. Grifting hedge funds maybe isn’t easy, but get no sympathy from me for “working hard.” Lots of people work hard.
'A single parent working three jobs just to cover rent and food works hard.'
Is this a reality though? I was desperate for work many years ago and all the part-time jobs were optimized for a specific time of the day - say 10 am to 2pm or thereabouts.
I can imagine a scenario where someone is holding down 2 jobs but 3, this is hard to comprehend?
For context, I should add I am in the UK where there are perverse incentives to only have one job where you work a maximum of 16 hours because this is where all the work-related benefits (welfare) start to fade away.
Not that I was claiming benefits but the 'benefit trap' is where most of the employers set their nets.
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#186Earlier quoted context omitted.
He worked hard for it! lmao edit: to be serious... there's certainly a lot of difficulty in achieving what he did no matter the failure, but when we use the word work to compare an employee worker and a ceo owner, let's be more specific with what we mean. we all understand work here and we talk about its structures day in day out. a ceo's day to day work has you running memeified mental contortions to understand how…
A single parent working three jobs just to cover rent and food works hard. Grifting hedge funds maybe isn’t easy, but get no sympathy from me for “working hard.” Lots of people work hard.
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Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#187Earlier quoted context omitted.
Success is personal. If your goal is to increase the amount of wealth for everyone then go for it. With that said, remember the following. While the economy is not zero sum and we can increase the amount of wealth in the world, power is zero sum. Power is finite and very scarce. You can create tremendous wealth and later find out it ended in the hand of a single person. And that person is not willing to share.
On your deathbed, is “I made so much money and earned so much power” really going to be satisfying? As opposed to family/charity/invention/politics/etc. Not a rhetorical question, honestly curious what you think
I like making money and exercising power. I like the feeling of getting what I want when I want. To help people (family/charity) you need money, resources and health (being able to). Politics is fundamental at all times, meaning human relations.
My wish is to die without a single penny in the bank. As I get older it gets clear how much time is worth. We have so little time to actually do what we want before we get too old.
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#188Earlier quoted context omitted.
Is success making lot of money for yourself. Or building a business that in general makes money and world a better place. That is generates societal wealth.
The most fucked up thing I heard is about people investing in artificial wombs. You want to know the actual reason they’re doing this? It’s not because some restrictive laws were passed or to keep the physical toll low on the mom, etc. maybe it is, but that would be found in the marketing slide. “We are too generous with how much leave we offer” Everything is to extract as much value out of everyday things as possibl…
[dead]
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#189This was always the weird thing about WeWork, after the collapse of it's ridiculous valuation people were like "Well, it's still a business, similar to IWG, it has some value". But the truth is no, the only thing WeWork had was a series of liabilities. They had signed a bunch of agreements to rent office space long term at a high price. The valuable part of IWG is that they have rental agreements with buildings that…
What is crazy to me is that Adam Neumann came out of this thing about a billion dollars richer. Now he is with Marc Andreessen (another hokey) in Saudi raising more money for the next hot air balloon. What a delightful grift.
As Maryland state senator Clay Davis used to say, "sheeeeeeeeit, I ain't saying no if someone's just giving money away." Grift those Saudi princes for all you can, king.
Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50
#190> He's back with a new startup that raised $350 million from the VC giant Andreessen Horowitz in August, 2022 — its biggest check ever — and is back on the tech-speaker circuit. smh. This really sets a new standard in grift. Now, if he only had good kompromat on all those investors, he'd be up there with Jeffrey Epstein. Come to think of it...
Funny, this is what I thought as well. To be a conspiratorial…he has to have SOMETHING on all of these VCs.