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WeWork has frittered away $46.7B in value as the stock sinks below ¢50

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Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#251

Post by nunez »

a1371 wrote: post #183

Due 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 firs…

I was surprised by how poor the app was. Having used it as an individual on someone else's plan, it was fairly decent. Using it as an account owner? Different story!

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#252

Post by nunez »

acomjean wrote: post #54

It’s a shame they bought (and sold) meetup.com. A great place for clubs in the before times for a small fee. The sold it, but I don’t think it’s the same.

What's a bigger shame is that Meetup can't seem to succeed on their own. (I think they were on their Series F when WeWork bought them.)

They are one of the few remaining vestiges of the "old" pre-social media Internet and are successful in getting people together without walled gardens.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#253

Post by nunez »

xyst wrote: post #118
sbrother wrote: post #68

Earlier quoted context omitted.

Coworking is absolutely still going on. My wife and I go to https://kiln.com/ which is a fantastic option if you are in SoCal or Utah. They seem to be thriving. The workspaces are fantastic, they get us all the benefits of going to a (very nice) office with none of the downsides (we choose when to go, and they're a five minute bike ride from the kids school.) Lots of opportunities to meet other members, network, and…

I’ll never understand why you would want to subject yourself to an office AND pay for that experience. Networking aside (why can’t that be done outside of a co-working environment), I don’t see any benefits. I would rather dump the $3,900 per year into my mortgage or other debt tbh.

Cool location. Quiet working space (if you have an office). Fast internet. No home distractions.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#254

Post by nunez »

I don't understand why so many people are dunking on Neumann.

Yes, he is the male Gwyneth Paltrow, and that is annoying.

But IMO WeWork is an awesome product that was executed really well, and Neumann's tech-bro spin to it was a big driver behind that (and Softbank sinking billions into them).

Every office was (and still is) in really cool locations and tastefully designed top to bottom. The community teams were usually hip and super friendly, and the offices themselves were really well thought out, both in appearances and in function.

Many say "but Regus did it first." Sure. Have you _actually been_ in a Regus property? More often than not, they look like doctor's office waiting rooms from the 80s! Also, did they even have an all-access pass system like WeWork did? Being able to hotdesk in another city anywhere in the world was super awesome.

Sure, WeWork was seeped in debt. But as far as I understand it, that's pretty much every real estate company!

If WeWork wasn't managed like a fucking coke-addled rave, I think they wouldn't be where they are. I had friends who worked there, and the incompetence they described was off the charts crazy.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#255

Post by bluepizza »

ethbr0 wrote: post #239
bboreham wrote: post #109

Earlier quoted context omitted.

The quoted price can and does move without transactions. The last-traded price does not.

How would the quoted price move without transactions? (And I realize we're bleeding over into market making dynamics here)

Because the seller sets a lower boundary for selling, and the buyer sets an upper boundary for buying. There is no price over the counter for individual stocks. The ticker that you see is based on transaction execution, but not on the negotiated price.

If there was an overnight discovery of infinite energy supplies, Exxon would wake up to a very different price than the night before, as any potential buyers would severely reduce their upper boundary. Sellers would need to continually lower their price until it finds a willing buyer.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#256

Post by vondur »

whatever1 wrote: post #133
ilrwbwrkhv wrote: post #125

Earlier quoted context omitted.

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.

And praised as a successful entrepreneur!

Didn’t he use money from WeWork buy the office buildings in his name and lease them back to WeWork?

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#257

Post by zdragnar »

moomoo11 wrote: post #224
zdragnar wrote: post #211

Earlier quoted context omitted.

What does an artificial womb have to do with parental leave? Mothers already spend historically low times recovering in hospitals post delivery. Parental leave is about bonding with the child and providing care for it while it is especially vulnerable. That's why it is called parental leave- some countries and a growing number of companies offer it to fathers as well.

I'm in the US so I have no clue about other countries. Like I said in my post, the doctors visits while carrying the baby, the PVT due to stress and other factors, and the maternity/paternity leave (at companies I've worked they allow 6-9+ months maternity and 2-4 months for paternity). Companies know they will offer these leaves, but the in the lead up to that there is a lot of OOO and unrealized effort. There are p…

I think you're missing the obvious - paternity leave is expanding. It wasn't even a thing in the US when I started my career.

The idea that the only reason artificial wombs are being investigated is "corporate greed wants workers to take less time off for pregnancy" is so far fetched it might just be the silliest conspiracy theory I've heard in awhile. The amount of money going into the design, research, regulatory hurdles etc will not be paid off by decreased PTO usage. If anything, it'll just get used up again when the infant inevitably gets sick or a care worker isn't available to watch them.

Thanks for the chuckle.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#258

Post by draw_down »

BeFlatXIII wrote: post #189
ilrwbwrkhv wrote: post #125

Earlier quoted context omitted.

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.

[dead]

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#259

Post by a1371 »

joeconway wrote: post #246
a1371 wrote: post #183

Due 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 firs…

Companies can pay for wework all access subscriptions and issue them to individuals

The price of their all access is 2x other spaces. Their pay as you go makes sense for our volume of use and what I tell you has been our experience.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#260

Post by throw9away6 »

TheCleric wrote: post #165
barelyauser wrote: post #156

Earlier 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.

So would you have considered Bernie Madoff successful?

Absolutely the man was a pioneer of the graft that is payment for order flow. His biggest mistake was living too long if he had died a year or 2 earlier he would have gotten away with it
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