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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

#51

Post by paxys »

saagarjha wrote: post #26
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…

> how many ex-FB or ex-Google engineers work there? This sounds like an awful metric.

It is a great metric if you are trying to measure software innovation happening at a company. San Francisco/SV is still a relatively tight-knit community, and engineers move around a lot. A company has to pay top dollar AND have enough interesting work going on to retain top talent, or they will move on.

Re: WeWork parent pulls IPO following pushback: sources

#52

Post by chrisweekly »

ummonk wrote: post #40
saagarjha wrote: post #26

Earlier quoted context omitted.

> how many ex-FB or ex-Google engineers work there? This sounds like an awful metric.

It's a useful proxy metric, but not a metric to optimize for. I wouldn't want to work for a startup that focused on hiring ex-FB or ex-Google engineers, but given that a large fraction of talented engineers have worked at FB or Google, you'd expect to find plenty of them at any reputable large startup.

>a large fraction of talented engineers have worked at FB or Google

citation needed

Re: WeWork parent pulls IPO following pushback: sources

#53

Post by dangxiaopin »

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…

Pinterest is next

https://trends.google.com/trends/explore?date=today%205-y&ge...

Re: WeWork parent pulls IPO following pushback: sources

#55

Post by ada1981 »

ben_jones wrote: post #16
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.

The furniture isn’t snazzy it seems like cheap ikea stuff

WeWork has created an incredible sort of social filter though.

At least in NYC, if someone is a member at WeWork its a strong signal you don’t want them at a party.

Maybe it’s some sort of AI they’ve built in house?

Re: WeWork parent pulls IPO following pushback: sources

#56

Post by ackbar03 »

Deimorz wrote: post #28
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…

This was a pretty good article about Blue Apron from last week: https://pitchbook.com/news/articles/recipe-for-disaster-the-...

This gets me thinking. They validated or at least thought they validated their idea because they gained traction at the start correct? But clearly they didn't validate the business because the price point wasn't at a profitable level? Was this the mistake?

Or is it that the price point allowed for marginal profits and they thought that by scaling up it would cover the fixed operational costs and thus lead to profits.

Where do you think it went wrong?

Re: WeWork parent pulls IPO following pushback: sources

#57

Post by quaquaqua1 »

dangxiaopin wrote: post #53
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…

Pinterest is next https://trends.google.com/trends/explore?date=today%205-y&ge...

Wow, interesting, that map is really correlated with my (biased) perception of where "percentage of people under 40 who are married" is highest

Re: WeWork parent pulls IPO following pushback: sources

#58

Post by platz »

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…

But the stock is going up now !

Re: WeWork parent pulls IPO following pushback: sources

#59

Post by ohadpr »

bwilliams18 wrote: post #49
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.

And the tech they do have is crappy, error prone, and inconsistent. If they could figure out how to do printing without PCClient, now that would be a business worth 47B all on it's own...

So true!!!
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