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Now Worth $10B, Is WeWork a 2000 Redux?

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Re: Now Worth $10B, Is WeWork a 2000 Redux?

#11
post #8
post #3

> With coffee bars, free beer and well-used communal spaces Beer, while working? What a good idea... or maybe not. Reminds me of 10-15 years ago when we'd have a pint or 2 at a local pub during lunch on Fridays. Nobody every got anything done on a Friday afternoon after that.

[deleted]

My company worked out of a wework for a few months. Never used the beer once—when we wanted to grab drinks, we'd want to get out of the office and go somewhere else anyway.

Re: Now Worth $10B, Is WeWork a 2000 Redux?

#12
post #3

> With coffee bars, free beer and well-used communal spaces Beer, while working? What a good idea... or maybe not. Reminds me of 10-15 years ago when we'd have a pint or 2 at a local pub during lunch on Fridays. Nobody every got anything done on a Friday afternoon after that.

In case of the China Town WeWork in DC. They switched to cold brew coffee. I'm guessing you can't just have an open tap in the kitchens in DC?

Re: Now Worth $10B, Is WeWork a 2000 Redux?

#14
> When the technology sector is booming, as it is now, growth is strong. The risk, real-estate executives say, is that if demand falls—because of, say, a tech bust—WeWork’s revenue would drop, while the rent it owes to landlords stays constant.

Though an obvious risk, I wouldn't say it's the only one. To me I would be more concerned about the thousands of other spaces out there that are easily more affordable.

Re: Now Worth $10B, Is WeWork a 2000 Redux?

#15
post #10

(big imho-post) Oh, I wish someone could explain to me how I can practically short many of these bubbles that come around HN daily. China, the many tech-unicorns, the housing market in Canada. Enough chances to short something succesfully. That whole 'private-IPO' thing makes the 'valued at' so much less worth, since you can't short them, information is private, no efficient market hypothesis in play (if any). I only…

[deleted]

Re: Now Worth $10B, Is WeWork a 2000 Redux?

#16
post #3

> With coffee bars, free beer and well-used communal spaces Beer, while working? What a good idea... or maybe not. Reminds me of 10-15 years ago when we'd have a pint or 2 at a local pub during lunch on Fridays. Nobody every got anything done on a Friday afternoon after that.

We had beer taps at my previous job, and nobody drank during business hours even though they could have. Any work past 5 or so might have been under the influence from time to time, but we really only drank in any quantity after quittin' time.

Re: Now Worth $10B, Is WeWork a 2000 Redux?

#17
post #10

(big imho-post) Oh, I wish someone could explain to me how I can practically short many of these bubbles that come around HN daily. China, the many tech-unicorns, the housing market in Canada. Enough chances to short something succesfully. That whole 'private-IPO' thing makes the 'valued at' so much less worth, since you can't short them, information is private, no efficient market hypothesis in play (if any). I only…

No you can't and that is a "good" thing in that you don't end up with short sellers driving the prices around in addition to the speculators.

Re: Now Worth $10B, Is WeWork a 2000 Redux?

#18
One of my clients has a space in one of WeWork's San Francisco locations. Every time I've visited, I have been struck by how many of the spaces seem underutilized (i.e. companies have more space than they're using). For example, I see companies that have private offices with x desks but I only see x/2 being used at any given time.

Other private offices appear to be entirely unutilized (i.e. they're occupied but I never see anybody in them). The latter seems to be more common with large companies that have "real" offices elsewhere and don't really need space at WeWork.

Obviously, this is entirely anecdotal.

Re: Now Worth $10B, Is WeWork a 2000 Redux?

#19
post #12
post #3

> With coffee bars, free beer and well-used communal spaces Beer, while working? What a good idea... or maybe not. Reminds me of 10-15 years ago when we'd have a pint or 2 at a local pub during lunch on Fridays. Nobody every got anything done on a Friday afternoon after that.

In case of the China Town WeWork in DC. They switched to cold brew coffee. I'm guessing you can't just have an open tap in the kitchens in DC?

Thats probably more dangerous.
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