WeWork CEO gives back $5.9M from 'We' trademark after criticism • Hacker News Board

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#101

Post by whatok » Wed, Sep 04, 2019, 8:24 PM UTC

paxys wrote: post #92

Here's something I don't understand - the overwhelming consensus among analysts, newspapers/websites, blogs, internet commenters etc. seems to be that this company is overvalued and not worth even close to what they want to IPO at. It is not close to profitability and may never be. Not to mention all the borderline scams and shady dealings the company and CEO is involved in. Yet, we know that on IPO day both retail a…

I think the general consensus is that WE is probably going to go public at a discount to the latest round. UBER was talked at like 100bn+ before they actually IPOed.

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#102

Post by chrisseaton » Wed, Sep 04, 2019, 8:25 PM UTC

paxys wrote: post #92

Here's something I don't understand - the overwhelming consensus among analysts, newspapers/websites, blogs, internet commenters etc. seems to be that this company is overvalued and not worth even close to what they want to IPO at. It is not close to profitability and may never be. Not to mention all the borderline scams and shady dealings the company and CEO is involved in. Yet, we know that on IPO day both retail a…

Everyone who buys thinks it’s undervalued, by definition. They’d probably tell you they’re buying because they know they can sell for more tomorrow to someone else who thinks it’s undervalued, but doing that means that they also think it’s undervalued no matter what they say.

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#103

Post by onetimemanytime » Wed, Sep 04, 2019, 8:33 PM UTC

bradhe wrote: post #36

The thing that's truly amazing about WeWork is that they're able to get away with all this.

The collapse gonna be spectacular though. Usually it is with these type of companies

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#104

Post by CydeWeys » Wed, Sep 04, 2019, 8:34 PM UTC

paxys wrote: post #92

Here's something I don't understand - the overwhelming consensus among analysts, newspapers/websites, blogs, internet commenters etc. seems to be that this company is overvalued and not worth even close to what they want to IPO at. It is not close to profitability and may never be. Not to mention all the borderline scams and shady dealings the company and CEO is involved in. Yet, we know that on IPO day both retail a…

The overall stock market is huge though, and WeWork just needs to convince a tiny number of investors (relative to the market as a whole) that they're worth speculating on.

Most people will stay away. But not everyone. And that not everyone may well be enough.

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#105

Post by rolltiide » Wed, Sep 04, 2019, 8:39 PM UTC

philwelch wrote: post #22

codewithcheese wrote: post #4

Adam Neumann is a genius at finding ways to increase his net worth as founder of a VC backed company. [0] WeWork’s CEO Makes Millions as Landlord to WeWork - https://www.bizjournals.com/sanjose/news/2019/01/16/wework-c...

A true genius would increase his net worth by building a successful business. If you're not clever enough to do that though, there's always self-dealing.

> A true genius would increase his net worth by building a successful business.

Which would mean not having pesky VC's with massive liquidity preferences.

Neumann is playing very efficient cards, his problem is trying to simultaneously portray this as something the public market should invest in.

Everyone gullible enough to consider WeWork shares on the public markets as validation - aka ALL the employees - should re-evaluate. Let the shares float, but no need for the lead underwriters to hold up syndicate bid, just let it float to its natural share price without the window dressing.

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#106

Post by [deleted] » Wed, Sep 04, 2019, 8:43 PM UTC

my_usernam3 wrote: post #100

paxys wrote: post #92

Here's something I don't understand - the overwhelming consensus among analysts, newspapers/websites, blogs, internet commenters etc. seems to be that this company is overvalued and not worth even close to what they want to IPO at. It is not close to profitability and may never be. Not to mention all the borderline scams and shady dealings the company and CEO is involved in. Yet, we know that on IPO day both retail a…

> we know that on IPO day both retail and institutional investors are going to ignore all these red flags Do we know that? I'm just over here eating popcorn. While I do agree with what you believe is the "overwhelming consensus", there are legitimate reasons to think WeWork is bullish too. Here's an article I think does a good job representing both beliefs: https://fortune.com/2019/09/01/wework-ipo-stock-should-i-buy…

[deleted]

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#107

Post by disjhshava » Wed, Sep 04, 2019, 8:52 PM UTC

paxys wrote: post #92

Here's something I don't understand - the overwhelming consensus among analysts, newspapers/websites, blogs, internet commenters etc. seems to be that this company is overvalued and not worth even close to what they want to IPO at. It is not close to profitability and may never be. Not to mention all the borderline scams and shady dealings the company and CEO is involved in. Yet, we know that on IPO day both retail a…

There's a lot of investor money out there and not a lot of good investment opportunities. You only need to convince a small % of investors to raise billions.

Also, shorting this stock is going to be expensive.

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#108

Post by pcurve » Wed, Sep 04, 2019, 8:59 PM UTC

rightbyte wrote: post #95

dnadler wrote: post #91

Earlier quoted context omitted.

That's apple to oranges though. What does it cost to rent office space at 1WTC?

About 70 USD/sq.ft. or 777 USD/m2 a year on a mid floor according to this random site: https://www.rentnyoffice.com/one-world-trade-center-office-s... My point is that short term lease contracts are less valuable than the thing you lease otherwise there is no point in leasing. A silly comparison for a silly valuation.

$70/sq.ft is pretty average for Manhattan. I expected higher for this building. I guess the location isn't all that attractive. I'd personally prefer something near the Bryant Park.

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#109

Post by braythwayt » Wed, Sep 04, 2019, 9:09 PM UTC

blueline wrote: post #93

braythwayt wrote: post #61

Earlier quoted context omitted.

Surprise! It turns out that although we employees are fêted as "Masters of the Tech Universe," Adam is a member of the Owner Class, and we are members of the Worker Class, and the two classes play by different rules. The first of such rules is that Owners make the rules, and consequently those rules benefit Owners over Workers. I'm ok with that, obviously, but being ok with something is not the same thing as being bl…

>I'm ok with that, obviously why?

Why am I ok with that? Or why is it obvious?

Re: WeWork CEO gives back $5.9M from 'We' trademark after criticism

#110

Post by more-entropy » Wed, Sep 04, 2019, 9:21 PM UTC

Why?! Why at this topic I get so much ads? Is it a part of their IPO? Or what? What the hell? It's a "little bit" annoying. You wanna share your experience -- go ahead, we're ready to listen.