How do you read things like this? I'm overwhelmed but feel like there are nuggets all over in this document.
The We Company S-1
51–60 of 346 posts
Re: The We Company S-1
#52Earlier quoted context omitted.
Thats because Amazon was only unprofitable due to Capex and R&D. Their operating margin is fantastic, it was this promise that enticed investors! WeWork on the other hand is very ugly.
The retail margins are about the same as walmart. They don't have some magic sauce in selling things. AWS is their real money maker.
Aws was a blip on the rader for years when amazon was still one of the richest companies.
Re: The We Company S-1
#53Does the S-1 disclose the fact that the founder is also one of the company’s biggest business partners? He buys up properties and then leases them to WeWork. Seems like a red flag to me.
The majority of businesses I have worked for, the company leases the building from another company owned by the founders.
This is to protect the buildings from liability through issues with workers. You don't want to be sued by a worker for something and have the buildings on the table.
Re: The We Company S-1
#54Re: The We Company S-1
#55I’m really disgusted by how much recent tech IPOs inject pitch deck-style garbage into the S-1 filing, especially this one. I’ve always had a great amount of respect for the mediating nature of the S-1’s dry, candid, and ruthlessly honest assessment of business risks, and even though those things are still there, they’re blown out by marketing photos, full-page charts, and branding. This is basically like putting per…
There's still deception even if companies use dry language. Using deck-style language only makes it that obvious and easier to decipher.
Re: The We Company S-1
#56[deleted]
Re: The We Company S-1
#57Does the S-1 disclose the fact that the founder is also one of the company’s biggest business partners? He buys up properties and then leases them to WeWork. Seems like a red flag to me.
Yes, under "related party transactions": https://www.sec.gov/Archives/edgar/data/1533523/000119312519... "We are party to lease agreements for four commercial properties with landlord entities in which Adam has an ownership interest..."
Isn’t “related party transactions” where Enron’s CFO hid most of their funny accounting to companies he controlled and profited from?
Re: The We Company S-1
#58> We are a community company committed to maximum global impact. Our mission is to elevate the world’s consciousness.
....
Re: The We Company S-1
#59Does the S-1 disclose the fact that the founder is also one of the company’s biggest business partners? He buys up properties and then leases them to WeWork. Seems like a red flag to me.
The majority of businesses I have worked for, the company leases the building from another company owned by the founders.
doesnt that sound like laundering?
Re: The We Company S-1
#60Earlier quoted context omitted.
The majority of businesses I have worked for, the company leases the building from another company owned by the founders.
This is to protect the buildings from liability through issues with workers. You don't want to be sued by a worker for something and have the buildings on the table.
Would note it financially secures the founders as well.
Even if the company removes the founders they're going to be getting that lease payment forever.