4 ms·
This company's valuation makes no sense to me. The brand is strong in NYC, sure. But really.
by redwood 10y ago
This company's valuation makes no sense to me. The brand is strong in NYC, sure. But really.
- cmdrfred 10y agoIf they could deliver this at a larger scale and be able to reduce their prices it might make a little more sense. You can get an entire office for the price of a desk. WeWork Walnut St. Desk[0] - $450 Allegheny Ave Office[1] - $450 [0]https://www.wework.com/locations/philadelphia https://www.wework.com/locations/philadelphia [1]https://philadelphia.craigslist.org/off/5595848731.html https://philadelphia.craigslist.org/off/5595848731.html
- abcampbell 10y agoMaybe. Risk I see is that they are essentially financing long term leases with rental income that can dissapear in a month.
- davidjhall 10y agoI don't know the costs for an office -- but WeWork provides the staff, internet, electricity, coffee, etc.
- cmdrfred 10y agoCertainly they provide a service. I guess they are the 'Hotel' of office space rentals and I'm thinking there might a huge market for the 'Motel' version at a lower price point. I bought a house to have an office because having that office rent cost makes a lot of projects I want to do not viable.
- gphil 10y agoDo you live in or are you at least familiar with Philly? This comparison is cherry-picking a WeWork the nicest area in the city and juxtaposing it with an office space in/near one of the worst neighborhoods. Of course the prices are going to be like this.
- cmdrfred 10y agoI live 45 minutes from center city. Allegheny ave is not that bad and only about 15 minutes from the wework office. Its mostly art students from Moore and Temple in that particular block. Plus Id be proud to call that my office, its a cool space. Wework provides a service, I just personally only see value at that price in the extreme short term, something a larger economy of scale may rectify.