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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

#331

Post by okmokmz »

guiriduro wrote: post #246
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.

Isn't a normal run of the mill business that happens to have an app the definition of a startup?

By that logic there is a local fish shop in my area that would qualify as a tech company/startup which they are certainly not

Re: WeWork parent pulls IPO following pushback: sources

#332

Post by okmokmz »

zik wrote: post #142
csallen wrote: post #99

Earlier quoted context omitted.

With services like Blue Apron and HelloFresh, you're paying for convenience. Perhaps you don't want to go to the grocery store, look up recipes, etc.

As a terrible cook I love that they do all the work of finding an achievable recipe and shopping for all the (sometimes obscure) ingredients. I've improved my cooking skills significantly as a result and I'm almost ready to move on from them now.

Agreed, I've tried blue apron, home chef, and green chef and it has been an overall positive experience

Re: WeWork parent pulls IPO following pushback: sources

#333

Post by phlakaton »

nkoren wrote: post #302
puranjay wrote: post #291

Earlier quoted context omitted.

My WeWork in Gurgaon, India has a biweekly bhangra dance class at 4pm on a weekday After the third such class, I decided to get the hell out of my lease. It's like their entire corporate culture is built around finding creative ways to not work. It's awful environment to build a startup in.

Snort! I am imagining a bunch of microdosing firangi sitting in their gravity pods, asking each other what Indians do to be, like, all cool and stuff. "Build a successful business" is, like, way too square an answer, daddy-o. Anybody can be a dull old business man. Our customers want to be cooool. So what's cool and Indian? Yoga? Sure, man, but everyone does yoga. They probably do Yoga in Kansas these days, so how's…

Panchakarma would also have been an acceptable answer. ;-)

Re: WeWork parent pulls IPO following pushback: sources

#334

Post by gumby »

kelnos wrote: post #282
pbalau wrote: post #261

Earlier quoted context omitted.

A large fraction doesn't not mean "most". 1/4 is a large fraction. 1/10 is still a large fraction. Due to the large amount of people companies like fb, goog, apple etc employ, statistically you should expect that a SV startup on the verge of not being a startup anymore employs some ex-ers. Not having any, will raise questions. This doesn't mean the startup is bad, the answer to said questions might...

My perception is that even 1/10 is vastly overstating the number of engineers in SV who work for those companies. 1/20 might even be on the high side.

Not just "work for" but "have ever worked for" which is, at this point, a much larger number.

What percentage of developers that is I haven't the faintest clue. But definitely significantly more than 10% of my friends have worked for at least one of FAAMNG. And I have a lot of non-nerd friends too.

The propinquity is insane. When my GF decided to leave MS she walked from her MS building on her lunch break to her interviews at Google and LinkedIn (LI has subsequently moved). Of course the inverse is true too: there aren't many startups in that area, except in the Landings complex (where Cygnus used to be!).

Re: WeWork parent pulls IPO following pushback: sources

#335

Post by _bxg1 »

H8crilA wrote: post #330
Slartie wrote: post #304

Earlier quoted context omitted.

People work with prejudice, if they are aware of it or not. A bunch of companies from the tech sector have managed to earn absurdly high valuations in a short timespan by successfully monopolizing a winner-takes-all market for a service with high initial cost but very low additional cost per customer. This situation is pretty uniquely found only for a certain subset of digital services, but people have already genera…

Precisely my point. Buy high because "OMG look at those past returns". Perfectly fits George Soros' concepts of fallibility ("tech" as a good label) and reflexivity (past returns drive shit ton of new money). I reckon I should play this like Soros would: first add fuel to the fire, and then short the shit out of the dumpster fire once it becomes clear that it really is a dumpster. And the end is nigh, so keep within…

Yeah, I'm not in the valley but I'm worried about a coming bubble-burst. The worst thing is it'll probably affect even those of us who don't work for vapid startups; "tech" will become a bad word instead of a good word, new initiatives even by established companies may dry up, etc. Trying to figure out if there's anything that can be done to prepare.

Re: WeWork parent pulls IPO following pushback: sources

#338

Post by H8crilA »

_bxg1 wrote: post #335
H8crilA wrote: post #330

Earlier quoted context omitted.

Precisely my point. Buy high because "OMG look at those past returns". Perfectly fits George Soros' concepts of fallibility ("tech" as a good label) and reflexivity (past returns drive shit ton of new money). I reckon I should play this like Soros would: first add fuel to the fire, and then short the shit out of the dumpster fire once it becomes clear that it really is a dumpster. And the end is nigh, so keep within…

Yeah, I'm not in the valley but I'm worried about a coming bubble-burst. The worst thing is it'll probably affect even those of us who don't work for vapid startups; "tech" will become a bad word instead of a good word, new initiatives even by established companies may dry up, etc. Trying to figure out if there's anything that can be done to prepare.

Diversify investments :)

It's hard for a qualified specialist to diversify his income revenue, though.

Also, with all the bubble-busts it's never total destruction. We may get a haircut to the salary, but I doubt jobs will outright disappear, or even slide into average salary levels.

Re: WeWork parent pulls IPO following pushback: sources

#339

Post by erikpukinskis »

gandutraveler wrote: post #205

Not necessarily related, but curious to know what hn community thinks about Airbnb and how it will do in a IPO

I’m not any kind of expert, but Airbnb has strong network effects, a clear business model, and is easily understood as a tech mediated disruption to hotels.

So, sounds like an easy sell. But it depends on the price.

Re: WeWork parent pulls IPO following pushback: sources

#340

Post by icedchai »

troquerre wrote: post #38
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…

You're missing Zoom, Pagerduty, and Cloudflare which are all doing phenomenally well.

Pagerduty's stock is in the toilet. Almost anyone who has bought in the past 5 months has lost money.
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