131–140 of 150 posts
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No, quite the opposite actually
The issue pointed out by these two comments come from a conflation of vocabulary (which is typically intentional at least at some point in the education). A truly "free market" would ensure that things like WeWork wouldn't happen because the ultimate material inputs and outputs of the company don't square. "Capitalism" is the seeking of profit at the expense of all others, where having a viable company no longer is a…
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Their dedicated office space is just absurdly expensive. I'd pay $2000/month for a 10sqm office when I can get a 20sqm office from the market for $1000/month. Of course the locations are not equivalent, but it's just not really relevant for those of us working remote anyway.
But $1000 a month seems cheap compared to an office manager? That is, a dedicated employee for receiving, kitchen stocking, security management, and even utility management (how many novice office managers try cable Internet before buying fiber)
Only if you use $1000 worth of office manager every month.
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I'm also glad the 2019 IPO didn't materialize, but if it had, anyone who bought in would have been deserving of no pity and I wouldn't call them "innocent retail investors". As badly managed as WeWork was, this was not a case of fraud. Everything was wide out in the open, for anyone with eyes and a brain to see. Heck, the whole reason the 2019 IPO didn't go through is that WeWork's original S-1 was such a shit show o…
Matt Levine's contemporaneous take on the WeWork IPO and associated shenanigans by Neumann: https://archive.is/qkJXl
Honestly surprised WeWork is still around after that documentary on it in 2021
Sad about this because I have a hot desk membership in New York, and it's an amazing experience that I'd probably pay more for honestly.
What makes it amazing?
Sad about this because I have a hot desk membership in New York, and it's an amazing experience that I'd probably pay more for honestly.
Funny you mention paying more, but they actually cut prices for many members recently. In the past 6 months, WeWork split their buildings into 2 tiers. The All-Access pass at one tier is $149 and the other is $299. $299 also gets you access to both tiers of buildings. I only go to the locations here in Portland and went from paying $299 a month to $149. They didn’t advertise this change to me, I had to find out from…
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If we're trying to define precise terms here, "free market" and "capitalism" don't overlap at all. Capitalism is a type of government, free markets are a (group of) polic[y/ies]. I don't see where the logic of your comment comes from either way though - capitalists are typically in favour of a free market, no? And typically the "purpose" of a free market is accruing wealth as part of a private enterprise?
Free markets are sometimes useful tools in making profits but are also sometimes hinderences towards being able to extract the highest amount of profit from consumers. That's why we see so many mergers and intensive lobbying for government regulation in things like healthcare, telecoms, and air travel, it's way easier to make money if you can restrict competition in your market and it's something essential to consume…
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No, quite the opposite actually
The issue pointed out by these two comments come from a conflation of vocabulary (which is typically intentional at least at some point in the education). A truly "free market" would ensure that things like WeWork wouldn't happen because the ultimate material inputs and outputs of the company don't square. "Capitalism" is the seeking of profit at the expense of all others, where having a viable company no longer is a…
No, that's not what defines capitalism at all. That's a degenerate form more usually called "predatory capitalism".
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What makes it amazing?
Really great space to work in. And in NYC, there's probably like 30/40 WeWorks so it's very convenient when you have meetings around the city.