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WeWork has frittered away $46.7B in value as the stock sinks below ¢50

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Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#241

Post by zh3 »

justin66 wrote: post #184
moomoo11 wrote: post #160

Earlier quoted context omitted.

The most fucked up thing I heard is about people investing in artificial wombs. You want to know the actual reason they’re doing this? It’s not because some restrictive laws were passed or to keep the physical toll low on the mom, etc. maybe it is, but that would be found in the marketing slide. “We are too generous with how much leave we offer” Everything is to extract as much value out of everyday things as possibl…

As predicted in the final episode of Max Headroom, titled Baby Grobags. https://www.dailymotion.com/video/x4jl2mm I don't know if it's the best intro to the series, it was the final episode in fact.

I always liked the intro. Police busting into someones apartment, Edison Carter (jourrnalist) wanting to know what the problem was. Cop flips over a pillow by the TV, says something like:-

"It's an off switch. She'll get years for that".

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#242

Post by wizofaus »

juujian wrote: post #25
jfengel wrote: post #3

Was anything of value lost? The idea, as I understand it, was co-working spaces. They were there to optimize that, extracting the maximum profit in the way they leased stuff. Ok, fine. Is co-working still going on? Has something desirable been lost? Were they creating any value that couldn't be recreated by someone else. I can't care one way or another about fake valuation of market cap. But I do care if work is gett…

One could speculate whether things would have turned out differently if Covid and the raise of the home office had not happened? If Covid emptied out WeWork's spaces like it cleared out corporate HQs, companies probably just dropped all those contracts and stopped paying WeWork?

OTOH WeWork became an attractive option for small enough businesses that they terminated office leases during Covid and afterward wanted to have an office space available for employees that can't/don't want to WFH full time. At any rate the Wework building I'm in seems fully occupied - I suspect it would be even if they shrunk some of the "shared spaces" that don't seem like particularly efficient use of real estate (there's 6 floors, all with nearly half dedicated to it!).

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#243

Post by fuzzfactor »

CPLX wrote: post #55
Hamuko wrote: post #50

Earlier quoted context omitted.

Elizabeth Holmes should've picked an easier industry than healthcare considering Adam Neumann was selling hot air and made out like a fucking thief.

In Adam’s defense he created what’s actually an excellent product. I’m a happy WeWork customer it’s a great experience as a customer. Things would be a lot different for Holmes if that’s what she did.

>I’m a happy WeWork customer it’s a great experience as a customer.

>Things would be a lot different for Holmes if that’s what she did.

I think you're correct.

If Holmes would have actually had an excellent product or happy customers, Wework gives an idea of the much bigger scale of fraud that could have been accomplished.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#244

Post by fuzzfactor »

mensetmanusman wrote: post #36

Imagine funding 100 companies with $500M...

>Imagine funding 100 companies with $500M...

If there was no greed involved whatsoever, and all were providing actual value added, odds are there would be more than one skyrocketing to beyond unicorn status, fully sustainable for the forseeable future.

Without further investment, just respectable returns.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#245

Post by fuzzfactor »

bombcar wrote: post #138
boeingUH60 wrote: post #90

Earlier quoted context omitted.

The VCs backing him are in on the con to. They want to pump and dump their stake on the real market. SoftBank was the real con person in the WeWork saga…Neumann just left them holding the bag, and they couldn’t successfully dump it on retail investors or sell it to a greater fool. The reason VCs continue to back people like Neumann is they have succeeded many times (e.g, Uber, Postmates, Lyft, Chamath Palihapitiya’s…

VCs see WeWork as a massive success, and blame SoftBank from not exiting correctly. They know they would do better.

Charlatans gonna charlatate.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#246

Post by joeconway »

a1371 wrote: post #183

Due to life events, I started looking for a new office for our team last week. I had always considered WeWork to be too hip for my taste. So when a colleague suggested it, I thought they were joking. But they weren't and it actually wasn't a bad idea. Good location, nice interior, "flexible" plans. What I found thought is that buying these flexible plans is very clunky. For example, I wanted to try things out at firs…

Companies can pay for wework all access subscriptions and issue them to individuals

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#247

Post by panick21_ »

kibwen wrote: post #67
pcurve wrote: post #42

"He's back with a new startup that raised $350 million from the VC giant Andreessen Horowitz in August, 2022 — its biggest check ever " Someone once said, SV values bigger failures than small success. Fail big.

And most importantly, fail upward. The fact that this legendary con man has ultimately suffered no consequences for his actions demonstrates how the market is fatally irrational.

The economic concept of market rationality was never that the market is always rational in all cases, but that overall people make rational choice on avg.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#248

Post by theGnuMe »

Ensorceled wrote: post #209
qwytw wrote: post #195

Earlier quoted context omitted.

Their net income back in 2021 was -223.32 mil. So only ~0.6 million per day. The interest payments on the $12.5 billion of debt Musk offloading to its balance sheet to fund his 'purchase' is way more than that. Basically Musk alone costs Twitter about the same as 4000 - 8000 employees. Which is why he had to fire that many people.. Seems like a great deal. Not that I mind him running Twitter into the ground it's horr…

As always, you are (were) using Twitter wrong. I follow authors, artists and journalists. Now, since Musk, the comments on anything newsworthy is a cesspool of paid subscribers with inane comments or just a string of emojis. If you had told me 6 months ago that I would grow to hate the clown emoji, I would have been bewildered.

Science and likewise machine learning twitter are interesting in the game theory sense of the whatever Twitter is. Same with journalists. It's distinct from the influencer phenomenon. Also distinct from what you see in the author/podcast world.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#249

Post by nunez »

dkarl wrote: post #95
belter wrote: post #28

Earlier quoted context omitted.

Specially because those offices were so noisy you could never get any work done. Best places however for finding a date... "What people actually do at WeWork" - https://news.ycombinator.com/item?id=16292423

Coworking in general is a hideous working environment. The offices are fishbowls. There's no privacy. It's worse than open plan offices, because at least at the office, everybody works for the same company. The only times I've found decent coworking spaces, they've been ad-hoc affairs to make use of an old building on cheap real estate. No software startups, nobody chasing VC money, no espresso machines, no free snac…

WeWork's private offices were fantastic though. I had one for about a year during COVID. It was amazing while we had it.

Re: WeWork has frittered away $46.7B in value as the stock sinks below ¢50

#250

Post by DANmode »

BeFlatXIII wrote: post #189
ilrwbwrkhv wrote: post #125

Earlier quoted context omitted.

What is crazy to me is that Adam Neumann came out of this thing about a billion dollars richer. Now he is with Marc Andreessen (another hokey) in Saudi raising more money for the next hot air balloon. What a delightful grift.

As Maryland state senator Clay Davis used to say, "sheeeeeeeeit, I ain't saying no if someone's just giving money away." Grift those Saudi princes for all you can, king.

Are you a golf fan, by chance?
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