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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

#251

Post by navigatesol »

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…

>Point is the media is making this out to be an indictment on some SV tech bubble but people in SV are looking at this from the outside like everyone else.

Question: How do you think this company got a $40B+ valuation?

Answer: By renting office space to "Silicon Valley" companies with equally silly ideas and terrible financials. It epitomizes SV.

Re: WeWork parent pulls IPO following pushback: sources

#252

Post by devm0de »

busterarm wrote: post #200
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 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.

I would still just do Whole Foods delivery and cook together if that’s what they’re after. It sounds like they’ve memorized the recipes if they really cook them that much.

Or order take out and save even more time and share dinner together.

Re: WeWork parent pulls IPO following pushback: sources

#253

Post by bitcoinmoney »

Traster wrote: post #134
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.

I don't think big investors are that stupid. They don't think an office rental business is a tech business, that's just a really convenient story to tell. Because if it's NOT a tech company, you have to look at why it's worth so much and come to the conclusion that all the fundamentals point to. It's worth a huge premium because it's getting a monopoly. My suspicion is that WeWork thinks that they can use their scale…

In my country WeWork offices are more expensive than competitors?

Re: WeWork parent pulls IPO following pushback: sources

#254

Post by drevil-v2 »

benj111 wrote: post #156
edoceo wrote: post #112

Earlier quoted context omitted.

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 onl…

I don't see blockchain or AI/ML in there??

Re: WeWork parent pulls IPO following pushback: sources

#255

Post by skinnymuch »

wolco wrote: post #129
Deimorz wrote: post #107

Earlier quoted context omitted.

And for "Facebook", Google Trends shows a 71% drop worldwide over the last 5 years. Their Q2 2019 earnings showed a 20% worldwide growth in monthly users over the last two years alone. "YouTube" shows a 45% drop over 5 years. "Google" itself shows a 60% drop over 5 years. Google Trends can't reliably tell you anything useful about a site's growth or activity. I'm not denying it correlates with your specific app, but…

I honestly feel those numbers are correct. Remember when everyone was sharing youtube videos. Or when you would sit and endless watch. I feel like that faded about 45%. Google dropping makes sense. I visit less sites and the search results are not that great for discovery. Most sites I visit by typing a letter in the browser and auto completing. Facebooks earnings raising 20% makes sense as more people are advertisin…

Facebook user growth was 20%. You said earnings.

Re: WeWork parent pulls IPO following pushback: sources

#257

Post by OJFord »

twic wrote: post #227
OJFord wrote: post #198

Earlier quoted context omitted.

> 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.

Does PayPal count money paid through its app as revenue?

Good point. I believe it (and similarly Amazon marketplace sales) uses nominee accounts.

I don't use Uber so I don't know if the payments are always to the same 'Uber Ltd' or not, but you're right that would seem to be a good option.

Re: WeWork parent pulls IPO following pushback: sources

#258

Post by navigatesol »

hn_throwaway_99 wrote: post #31
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…

Honest question if anyone knows more details. VCs these days are very focused on the "SaaS Quick Ratio": https://www.cobloom.com/blog/saas-quick-ratio-how-to-measure... (Blue Apron isn't quite a SaaS business but close enough for this metric). The idea is that it not only measures growth, but measures new customers in relation to churn, with the idea that it's a lot easier to have a long term successful business if y…

>VCs these days are very focused on the "SaaS Quick Ratio"

VCs are focused on whatever metric reels in the next layer of suckers. GAAP exists for a reason.

Re: WeWork parent pulls IPO following pushback: sources

#260

Post by sciurus »

autokad wrote: post #30
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…

> "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…

You're missing Eventbrite, which IPOed September 2018 and has lost around half its peak value.

https://finance.yahoo.com/quote/EB/

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