Earlier quoted context omitted.
So you're saying you've built a business 50% dependent on someone else's business. That's fragile.
You think the entire B2B business model is fragile? Only consumer-facing companies are resilient enough for you?
Critics say WeWork is an overvalued real-estate play
121–130 of 183 posts
Re: Critics say WeWork is an overvalued real-estate play
#122Earlier quoted context omitted.
In a lot of markets, WeWork is a great deal. We just moved from Chicago West Loop WeWork to our first real office; we got what I think is a pretty amazing deal on our new office and it is still very difficult to beat the package WeWork puts together. But that's not the critique being leveled at WeWork here; the critique is, WeWork can't in the long run be profitable at these rates. In a lot of their spaces --- maybe…
Beer aside, every WeWork I've ever been in seems to have dozens of fridges stocked to the brim with rancid milk. It's weird that they have custom furniture but can't even get their shit together on the most basic issues.
Re: Critics say WeWork is an overvalued real-estate play
#123I worked in a wework Office for about a year. At first I thought the environment was great, I loved the free beer and the community. However, once we moved out, I realized how much more productive we were in our own office. We had - more space - less noise, in terms of sound and visually (you see everybody passing by through the glass and have to force yourself not to look at them. For a while we had some posters up,…
This has been by number one issue with WeWork and I've always been surprised that more devs who work at WeWork aren't bothered by this.
Re: Critics say WeWork is an overvalued real-estate play
#124Earlier quoted context omitted.
Beer aside, every WeWork I've ever been in seems to have dozens of fridges stocked to the brim with rancid milk. It's weird that they have custom furniture but can't even get their shit together on the most basic issues.
THANK YOU. At first I was very confused as to why there were so many half-full milk jars in the fridge but it soon made sense. I don't think this is WeWork's "fault" in that Ronnybrook milk only seems to last about two hours after opening, but they should really buy another brand.
Re: Critics say WeWork is an overvalued real-estate play
#125Earlier quoted context omitted.
Sure, but your corporate overlord^W^Wfounder pays for that. From your POV, it's all you can drink coffee. Also $2200 is on the high end for four people. You can probably talk them down to $2k or less. You'd be surprised how valuable it is to have a pot of coffee ready to go all the time, next to a mini fridge that's always stocked with half and half. Sweetner's on the counter. It ends up taking like 30 seconds to gra…
> Your office even has beautiful floor to ceiling windows that gives you a nice view of downtown and sunsets. s/Your office/some offices My company currently has an office in the middle of the floor of a WeWork building, it's cramped for 4 people, and the only "views" I have are of the walls of neighboring buildings in the windows that I can see through ~4 other offices and are ~80-100ft away (but, times are a bit to…
Re: Critics say WeWork is an overvalued real-estate play
#126Earlier quoted context omitted.
> Your office even has beautiful floor to ceiling windows that gives you a nice view of downtown and sunsets. s/Your office/some offices My company currently has an office in the middle of the floor of a WeWork building, it's cramped for 4 people, and the only "views" I have are of the walls of neighboring buildings in the windows that I can see through ~4 other offices and are ~80-100ft away (but, times are a bit to…
Are you in the Dumbo office? I found that one to be pretty cramped - I liked Montague St a lot more. And better subway access, IMO.
Re: Critics say WeWork is an overvalued real-estate play
#127Many people, including the author, skip the more interesting point in favor of the lazy critique: WeWork is not being valued by its investors as an office rental company. It's made the case that it is a business services marketplace, selling vendors' insurance and HR and legal and servers to as large as swath of the small business sector as it can grab with its fancy offices. It wants to own the app store for enterpr…
Not sure why people are negative about the core idea of WeWork. You get free beer, free coffee, bathrooms, an office, meeting rooms, phone booths with doors that close that you can also go work in whenever you want to be isolated, you can be there 24 hours a day, you have a keycard that works at all hours, and best of all, you're surrounded by startups and companies doing the same things as you. Meaning you can chat…
Not exactly a $19B moat IMO.
Re: Critics say WeWork is an overvalued real-estate play
#128Earlier quoted context omitted.
Indeed, they go there for the foosball, table tennis, coffee and self-congratulation. Sure, sure, physical proximity to other startups, mentorship, etc. - but frankly the impression I've got from each wework location I've been to has been of people wanting the "startup lifestyle" rather than wanting to build a business. The actual startup lifestyle is sweating in a cheap grotty office, rice, and sleeping under your d…
Annecdotaly many of the people I meet in WeWork aren't running startups. Just small businesses that don't want to work from home, or are a few people in size and don't want to have the hassle of renting office space, renting broadband, cleaning, fridges, coffee machines, etc. Yeah, of course there is table tennis and coffee and whatever else. But it's a bit like buying a mattress. If you have to spend half your life…
Re: Critics say WeWork is an overvalued real-estate play
#129Re: Critics say WeWork is an overvalued real-estate play
#130I worked in a wework Office for about a year. At first I thought the environment was great, I loved the free beer and the community. However, once we moved out, I realized how much more productive we were in our own office. We had - more space - less noise, in terms of sound and visually (you see everybody passing by through the glass and have to force yourself not to look at them. For a while we had some posters up,…
less noise, in terms of sound and visually (you see everybody passing by through the glass and have to force yourself not to look at them. For a while we had some posters up, but we had to remove them since wework’s company policy doesn’t like that) This has been by number one issue with WeWork and I've always been surprised that more devs who work at WeWork aren't bothered by this.