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AIUI, Regus won't talk to you if you're not willing to commit to a 12 or 24 month lease. If I had a stock position, it would be very short WeWork, but assuming you can make the month-to-month economics work, that's a pretty big benefit regardless of customer size.
Doesn't Regus own Spaces, in the co-working space?
Edit: removed exact salary amounts because my sources said it would out them.
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I suspect the majority of WeWork's revenue comes from people working in the same location day in, day out. Same with gym chains. People sign up for Planet Fitness because the nearest location is the most convenient, not because they plan to visit multiple locations over the course of a year (not to say there aren't people taking advantage of the multi-city aspect, just that they aren't the typical customer).
Ya, I can't imagine that is really a draw at all. If you travel a lot, you will have an office in your hotel room or can use the business center in the hotel.
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I also dodged this bullet two months ago. They were hiring like crazy in Seattle. Thanks HN!
Insane. This story is number one on hn for me and right below it in number two is https://news.ycombinator.com/item?id=21062231 > WeWork, Bankers Have Discussed Laying Off One-Third of Workforce (theinformation.com) If you, the reader, have an offer from WeWork, I suggest you ask for a bigger paycheck (like real money, not funny money) for all this uncertainty.
They will likely try to force the IPO through anyway at some sub $5B valuation, but even then it seems like they may not generate much interest after that cuckooville S1.
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> but I predict WeWork is still going to be around in another decade. There's clearly a ton of demand for what they provide There's also a TON of rent-a-desk places. The big questions are: - What's the benefit to a large corporation doing this instead of lots of small companies? (The economies of scale need to outweigh the large corporate overhead.) - What's WeWork's secret sauce or first mover advantage?
> - What's WeWork's secret sauce or first mover advantage? Softbank $$$
And that not so much anymore. All they had was a cannabilized version of Meetup.com for doing reservations.
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> You've got to wonder what kind of a person is it that can get so far in building a successful behemoth like this... Makes you wonder if being a CEO is really worth 400X the average salary of the plebs or if it's all just luck and smooth talking.
It isn't, corporate leadership is effectively a tournament and CEO and executive salaries are the prize for winning it. The point of having a high prize is to get a lot of people to compete for it, not to reward the winners for the effort they've put it (which may only be slightly more than the runner up, while the reward is several times what the runner up gets). Like, do you think the best golfer in the PGA tournam…
To the sponsors? Yes.
My interview with WeWork was for a dev role.. Recruiter emailed me a 'homework' assignment. This homework assignment was basically work they needed to get done and offed it on candidates to finish.. I noped out of that pretty quick.
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The advantage to me with Spaces (which I believe is owned by Regus) is that I can do guest co-working in any city they happen to be present - and since I travel extensively, the bigger the network the better, as far as I'm concerned. Sadly WeWork do not appear to offer this option (or didn't last time I looked).
i think you are looking for wework global access https://www.wework.com/workspace/on-demand/global-access
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I find in tech, being skeptical by default is usually a good thing - perhaps not if you're an entrepreneur, but certainly if you're a developer or engineer.
Or an investor. It is interesting how often investors goals accidentally line up with early employees.
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They were always a real estate company, they just didn't get to IPO under the SV hype because as it got closer people looked closer at the company and realized the valuation was ridiculous and the CEO was lining his own pockets acting as landlord to his own company. Now that that's happened and it's all come out he has to step down.
Why "SV" hype? WeWork was founded and HQd in New York.
https://www.merriam-webster.com/dictionary/synecdoche
See also: Hollywood. Nashville. Foggy Bottom. Quantico. Denim.