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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

#191

Post by orbifold »

nkoren wrote: post #182
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…

It's not "Silicon Valley", it's Silicon Valley . As in the show. My wife just started a contract at a new WeWork office in London. The lobby features a giant but non-functional as skateboard ramp, and two DJ booths, both manned (at 9am on a Monday). The bathrooms feature the very latest in digital toilets, but they aren't flushing, and nobody can figure out how to reboot them. At an aesthetic level, this couldn't be…

Seems like a perfect place for people who like to pretend to work.

Re: WeWork parent pulls IPO following pushback: sources

#192

Post by XJ6 »

rockinghigh wrote: post #100
autokad wrote: post #30

Earlier quoted context omitted.

> "Point is the media is making this out to be an indictment on some SV tech bubble" Its not the media, I think its just true. Had WeWork IPO'ed under the same conditions a year ago, I think it would have been 'fine'. but the glut of SV unicorns losing money, hating investors, and slowing growth has got people highly concerned. This list of companies (slack, lyft, Uber, Pinterest, beyond meat, crowdstrike, tesla, spo…

> -18.67 billion $ in revenue You’re confusing revenue and earnings/net income. Revenue is the sum of the sales. Net income, or earnings, is how much money is left after accounting for expenses. Uber alone has tens of billions of dollars in revenue.

You're not wrong about OP's confusion, but a quick note that uber recently reported quarterly revenue of ~3.1bn which means "tens of billions" annually is exaggerating a little.

Does uber count it's fees as revenue or does it count fees and the fares (which get passed back to the drivers) as revenue?

My opinionated take is that if uber wants to pretend that drivers are not employees and it's just a marketplace then they shouldn't be booking the fare as revenue, just their cut but I'm not an accountant and I don't make the rules.

Re: WeWork parent pulls IPO following pushback: sources

#193

Post by 0x28469 »

Svip wrote: post #119
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…

It's the same reason, I sometimes still like to watch classic television; rather than choosing specific programmes to watch, I want them curated for me. And while television channels offer a mediocre experience on average, watching something I wouldn't have picked myself is a way to expand my horizons. In the same vein, Blue Apron and Hello Fresh, I'd imagine, are there to expand your horizons in terms of culinary op…

Download their online recipes and do a rand on them.

It's 100% about convenience. They offer nothing more than you picking up your own food. Plus they ship as much packaging as food so it's probably far from being the most ecological solution.

Re: WeWork parent pulls IPO following pushback: sources

#194

Post by notahacker »

IMTDb wrote: post #190
bakuninsbart wrote: post #162

Earlier quoted context omitted.

While this is true, I seem to miss what makes Slack special. We use it at work, and it is decent at what it provides, but we could probably just as well switch to Discord, Microsoft Teams or ICQ. Microsoft Teams especially seems like a deliberate attempt to dethrone Slack, and while it is slightly more annoying to use, it just makes sense for companies to bundle their services and subsciptions. I do not really see a…

You could switch, sure. But would you ? You would be losing : - Message history - Files that have been shared - Integrations / bots / ... - Plus you would need to setup everyone again, create channels, ... Slack goal is to be cheap enough that it does not represent a major cost for the company and integrated enough that moving would be a pain.

For the same reasons (good and bad) companies periodically switch other software platforms despite switching costs. History is exportable, and I suspect that for every company that's built clever and essential integrations and comprehensive channel structures there's another one where it's an under-used message board...

Re: WeWork parent pulls IPO following pushback: sources

#195

Post by cameronbrown »

nkoren wrote: post #182
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…

It's not "Silicon Valley", it's Silicon Valley . As in the show. My wife just started a contract at a new WeWork office in London. The lobby features a giant but non-functional as skateboard ramp, and two DJ booths, both manned (at 9am on a Monday). The bathrooms feature the very latest in digital toilets, but they aren't flushing, and nobody can figure out how to reboot them. At an aesthetic level, this couldn't be…

Company with an identity crisis by any chance?

Re: WeWork parent pulls IPO following pushback: sources

#196

Post by jen20 »

IMTDb wrote: post #190
bakuninsbart wrote: post #162

Earlier quoted context omitted.

While this is true, I seem to miss what makes Slack special. We use it at work, and it is decent at what it provides, but we could probably just as well switch to Discord, Microsoft Teams or ICQ. Microsoft Teams especially seems like a deliberate attempt to dethrone Slack, and while it is slightly more annoying to use, it just makes sense for companies to bundle their services and subsciptions. I do not really see a…

You could switch, sure. But would you ? You would be losing : - Message history - Files that have been shared - Integrations / bots / ... - Plus you would need to setup everyone again, create channels, ... Slack goal is to be cheap enough that it does not represent a major cost for the company and integrated enough that moving would be a pain.

Would you, though? My company was a very early user of Slack, and imported our history from Skype group chat, IRC and HipChat over various periods in history. You can get the data out of Slack easily enough, so I don’t see that as a major aspect of lock-in if there is a competitive product.

The integration story is more interesting, but to _be_ a competitive product many of these must already exist.

The job of competing with Slack is harder than it once was (just look at MS Teams) but not impossible (just look at Slack...) - there’s lots of room for improvement.

Re: WeWork parent pulls IPO following pushback: sources

#197

Post by batiudrami »

Svip wrote: post #119
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…

It's the same reason, I sometimes still like to watch classic television; rather than choosing specific programmes to watch, I want them curated for me. And while television channels offer a mediocre experience on average, watching something I wouldn't have picked myself is a way to expand my horizons. In the same vein, Blue Apron and Hello Fresh, I'd imagine, are there to expand your horizons in terms of culinary op…

That's interesting because, by the nature of needing to appeal to everyone, I find Hello Fresh recipes to be very safe and often quite bland tasting. If you already know how to cook it's easy to make them tasty according to your preferences but if you don't I suspect people just churn out middling-tasting food.

Re: WeWork parent pulls IPO following pushback: sources

#198

Post by OJFord »

XJ6 wrote: post #192
rockinghigh wrote: post #100

Earlier quoted context omitted.

> -18.67 billion $ in revenue You’re confusing revenue and earnings/net income. Revenue is the sum of the sales. Net income, or earnings, is how much money is left after accounting for expenses. Uber alone has tens of billions of dollars in revenue.

You're not wrong about OP's confusion, but a quick note that uber recently reported quarterly revenue of ~3.1bn which means "tens of billions" annually is exaggerating a little. Does uber count it's fees as revenue or does it count fees and the fares (which get passed back to the drivers) as revenue? My opinionated take is that if uber wants to pretend that drivers are not employees and it's just a marketplace then t…

> My opinionated take is that if uber wants to pretend that drivers are not employees and it's just a marketplace then they shouldn't be booking the fare as revenue, just their cut but I'm not an accountant and I don't make the rules.

Good point, but Uber literally takes the money through its app, so I don't suppose that would be possible.

Re: WeWork parent pulls IPO following pushback: sources

#200

Post by busterarm »

rosybox wrote: post #85
abvdasker wrote: post #61

Earlier quoted context omitted.

I actually still use Blue Apron. It's not that much more expensive than grocery shopping (I live in New York so groceries are expensive) and you never end up with wasted food. The recipes are generally very quick to make and far better than anything I could make on my own in a comparable amount of time. While the business may not have worked out so well their service is still pretty good.

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 have a coworker who puts in fairly insane hours and he and his wife do Blue Apron every single day.

They haven't missed a day in a few years. I only realized the importance of Blue Apron in his life when he told me he does about 8-10 hours at work and 2-8 hours at home most days.

Blue Apron affords them the time to get to even be a family.

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