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WeWork says will file to withdraw IPO

reuters.com

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Re: WeWork says will file to withdraw IPO

#401

Post by nfogort »

axiak wrote: post #39
S_A_P wrote: post #19

What I don't understand is how do things get this far down the road before a good old fashioned sanity check happens? I have got to think that Soft Bank knew/knows the valuation was off. The fact that they pushed on means they either intended to try and get away with it/take the money and run as I cant believe incompetence is the reason here. How did this get so far along??? As for Adam N, I have to think some part o…

I think the pure tech plays in 2019 are doing just fine. Zoom, Cloudflare, and Datadog all look like good companies. They're just not over-hyped and overinflated.

Err, this Zoom? The reinstalls itself Zoom?

https://www.theverge.com/2019/7/10/20689644/apple-zoom-web-s...

Re: WeWork says will file to withdraw IPO

#402

Post by hiharryhere »

bpt3 wrote: post #390
blaser-waffle wrote: post #386

Earlier quoted context omitted.

> the technology isn’t core to why people rent from them Okay, I'll bite: what is the core of their value-proposition? A cultural aesthetic? Cheap rent?

As a former WeWork tenant, their value proposition to customers is that they provide office space quickly and without any long term obligation in convenient, trendy locations. They're also very eager to beat competitors on price in my personal experience. Since it's very easy to set up a competitor (at least in my area, since numerous knockoffs have been created in the last few years) their margins are low at best, a…

I'm not sure about the price-beating anymore.

A few days ago I moved into a WeWork clone called JustCo. The spaces are much larger, look virtually identical and are in a neighbouring building. Price difference per month was $2300 vs $1600 + a month free. WeWork's best offer was 5% off if we signed for 12 months. No free beer here, but I've got a beer budget of $700 a month with the savings.

It seems WeWork's sales guys here in Sydney have very little freedom to discount.

Re: WeWork says will file to withdraw IPO

#403

Post by LutfuRadu »

roland35 wrote: post #10

Wow what a huge rise and fall in the past few weeks! What I don't understand is how the S-1 filing ever saw the light of day? How could nobody reviewing that see any of the red flags that were obvious? I think this just shows how hard it is to be objective when there are so many cultural/financial/etc influences affecting your judgement. Obviously their team bought the hype (and as a sad Browns fan I can totally symp…

"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!" Upton Sinclair
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