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WeWork parent pulls IPO following pushback: sources

reuters.com

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Re: WeWork parent pulls IPO following pushback: sources

#151

Post by closeparen »

victor106 wrote: post #77

> The WeWork brand is strongly tied to Neumann, a freewheeling 40-year-old Israeli-born entrepreneur who has said that We Company’s mission is “to elevate the world’s consciousness”. "Elevate the world's consciousness" --> Dont mean to be negative but what the hell does that even mean? Imagine your landlord told you that. Been following this story closely and Adam Neumann is such a crook, from the outset he just want…

Landlords having grand ideas about community, consciousness, relationships, etc. is actually pretty normal for any kind of formal, large scale roommate situation. Dorms, coops, co-living, intentional communities, communes, etc. Even for normal individual housing, developer marketing is selling you a lifestyle and a self-image much more than it’s selling you walls and countertops.

Re: WeWork parent pulls IPO following pushback: sources

#152

Post by benj111 »

ginkgotree wrote: post #13

We Co isn't a tech company. Its a landlord subleasing commercial realestate as short term month to month leases with snazzy furniture. They happen to have a mobile app. Its functionality is so poor they removed the pay snack bar in my SF WeWork because no one could pay through the app. CloudFlare... Now there's a proper tech company.

Ah, but it has/had a tech company valuation.

Why do you think valuations varied so wildly? You get the same thing with Tesla, it's valued more as a tech company than as car company.

Re: WeWork parent pulls IPO following pushback: sources

#153

Post by benj111 »

miguelmota wrote: post #48

WeWork is a real estate company and not a software company. They don't have any worthy propriety tech and their business model is collecting rent. How they were once valued at 47 billion just straight up doesn't make any sense.

"They don't have any worthy propriety tech and their business model is collecting rent"

To be fair, you could say that about many 'tech' companies. Weworks 'innovation' may well be getting to over the hill tech company in record time!

Re: WeWork parent pulls IPO following pushback: sources

#154

Post by greglindahl »

Kiro wrote: post #145
rosybox wrote: post #85

Earlier quoted context omitted.

Blue Apron just seems so unnecessary. You still have to do all the work! Just go to the grocery store and buy stuff there? You can get recipes online for free. I do all my shopping on Saturday at Trader Joe's and spend very little for lots of food which I then cook. There's so much wasted materials and trash with Blue Apron. I don't get it, but then I don't have any trouble cooking for myself and my family. I didn't…

I hate shopping and I hate having to constantly figure out what to cook. I use an equivalent in my country and it's worth any premium I'm paying.

Me, too. I already owned a bunch of cookbooks and knew how to cook before I started this sort of service. I still hate shopping and planning, after years of getting a box.

Re: WeWork parent pulls IPO following pushback: sources

#155

Post by greglindahl »

ackbar03 wrote: post #56
Deimorz wrote: post #28

Earlier quoted context omitted.

This was a pretty good article about Blue Apron from last week: https://pitchbook.com/news/articles/recipe-for-disaster-the-...

This gets me thinking. They validated or at least thought they validated their idea because they gained traction at the start correct? But clearly they didn't validate the business because the price point wasn't at a profitable level? Was this the mistake? Or is it that the price point allowed for marginal profits and they thought that by scaling up it would cover the fixed operational costs and thus lead to profits.…

It's easy to measure an LTV that doesn't turn out to be accurate many months later.

Re: WeWork parent pulls IPO following pushback: sources

#156

Post by benj111 »

edoceo wrote: post #112
bwilliams18 wrote: post #49

Earlier quoted context omitted.

And the tech they do have is crappy, error prone, and inconsistent. If they could figure out how to do printing without PCClient, now that would be a business worth 47B all on it's own...

Raspberry Pi + CUPS. Can I have some billions now?

You need to dress it up a bit, like this:

Rpicup.com, the global leader in non augmented reality solutions, leveraging modern technologies to anticipate trends in the digital/reality interface. Rpicup brings printing, or as we like to say rpinting(tm) in to the 21st century.

Rpicups: Print your way to world peace.

Edit: I am of course available for consulting work, and to ensure my neutrality in such matters will only take my very modest fee as cash, no options.

Re: WeWork parent pulls IPO following pushback: sources

#157

Post by CriticalCathed »

tempsy wrote: post #23

As someone living in SF, I don’t think anyone in SF or SV would ever consider WeWork to be a “Silicon Valley” company in the same way that Uber or Twitter or Slack is. The company has 0 tech brand among employees (how many ex-FB or ex-Google engineers work there?) and outside of Benchmark’s early round none of the VCs are SV-based. Point is the media is making this out to be an indictment on some SV tech bubble but p…

Honestly, who cares about facebook or google employees? They don't actually represent the bulk of software engineers -- instead, a vanishingly small minority.

Re: WeWork parent pulls IPO following pushback: sources

#158

Post by m0zg »

quaquaqua1 wrote: post #21

Semi related but Blue Apron will forever be my favorite IPO. 5 stock splits and 3 CEOs later, day one investors will receive roughly 2 pennies back for every dollar invested just 2 years ago. Only people who won were those who dumped free shares on the market (insiders), and maybe consumers for getting subsidized food of questionable quality. Once valued at 2 billion USD, a paltry 150 million will get the job done no…

BA was pretty decent. My wife subscribed us to it and we used it for a couple of months. Restaurant quality meals for real. But the whole business model is idiotic at the small scale. Amazon with its gigantic distribution network (as well as Whole Foods) could pull it off I suppose, but I just felt bad that this stuff had to be shipped to me from hell knows where, with lots of packaging, and an ice pack to boot. Not "environmentally friendly" in the least. Besides both my wife and I can cook perfectly fine without any help. So after 2 months we got rid of it.

Re: WeWork parent pulls IPO following pushback: sources

#159

Post by tiborsaas »

semi-extrinsic wrote: post #84
victor106 wrote: post #77

> The WeWork brand is strongly tied to Neumann, a freewheeling 40-year-old Israeli-born entrepreneur who has said that We Company’s mission is “to elevate the world’s consciousness”. "Elevate the world's consciousness" --> Dont mean to be negative but what the hell does that even mean? Imagine your landlord told you that. Been following this story closely and Adam Neumann is such a crook, from the outset he just want…

No-one knows what it means, but it's provocative. It gets the people going!

It's placebo marketing, like homeopathic medicine, doesn't mean anything but sounds great.

Re: WeWork parent pulls IPO following pushback: sources

#160

Post by m0zg »

dangxiaopin wrote: post #53
quaquaqua1 wrote: post #21

Semi related but Blue Apron will forever be my favorite IPO. 5 stock splits and 3 CEOs later, day one investors will receive roughly 2 pennies back for every dollar invested just 2 years ago. Only people who won were those who dumped free shares on the market (insiders), and maybe consumers for getting subsidized food of questionable quality. Once valued at 2 billion USD, a paltry 150 million will get the job done no…

Pinterest is next https://trends.google.com/trends/explore?date=today%205-y&ge...

FWIW (sample size of one) my wife switched from Pinterest to Instagram. Same shit, arguably better interface.
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