3 ms·

I wonder how WeWork uses technology to enable them. I'd imagine it'd be along the lines of using AI or ML to identify properties that would be profitable to sub

I wonder how WeWork uses technology to enable them. I'd imagine it'd be along the lines of using AI or ML to identify properties that would be profitable to sublease.

edw 7y ago
Yes, they do have a team that uses "AI" and/or "ML" to identify properties. How effective that team has been or the extent to which that team's existence makes them a tech company are entirely different questions.
- redisman 7y ago
  Probably something like the Whole Foods algorithm. Find a wealthy area that fits your target demographics.
  - JMTQp8lwXL 7y ago
    That sounds like a very simple algorithm. Get census data, sort by zip code median income, and filter results to above a minimum dollar amount. Doesn't make it any less of an algorithm.
- heurist 7y ago
  I'm in real estate analytics and know that at least for my area, they used a real estate broker to find properties like anyone else would. Brokers know f-all about AI/ML/analytics (I tried to sell it to them for years all over the country and never got through to them. My fault or theirs, who knows.). They might be using AI/ML in other ways but RE in general is data-averse. Especially in office, most cities have a small area with most class A space and local brokers know it like the back of their hands.
mortenjorck 7y ago
Cutting-edge ML and PhD data scientists aren’t essential elements of being a tech company. A traditional business with a mobile app in front of it is solving a problem with technology; it’s just not solving sexy HN problems. The point here is that WeWork has been hyped and seen valuations as if it were solving the aforementioned sexy HN problems, when it’s really just a regular, unsexy tech company that is solving more mundane problems of office rental with a nice tech stack and UI. I’m sure it’s a solid $5B business.

3 ms·

I wonder how WeWork uses technology to enable them. I'd imagine it'd be along the lines of using AI or ML to identify properties that would be profitable to sub

by JMTQp8lwXL 7y ago

I wonder how WeWork uses technology to enable them. I'd imagine it'd be along the lines of using AI or ML to identify properties that would be profitable to sublease.

edw 7y ago
Yes, they do have a team that uses "AI" and/or "ML" to identify properties. How effective that team has been or the extent to which that team's existence makes them a tech company are entirely different questions.
- redisman 7y ago
  Probably something like the Whole Foods algorithm. Find a wealthy area that fits your target demographics.
  - JMTQp8lwXL 7y ago
    That sounds like a very simple algorithm. Get census data, sort by zip code median income, and filter results to above a minimum dollar amount. Doesn't make it any less of an algorithm.
- heurist 7y ago
  I'm in real estate analytics and know that at least for my area, they used a real estate broker to find properties like anyone else would. Brokers know f-all about AI/ML/analytics (I tried to sell it to them for years all over the country and never got through to them. My fault or theirs, who knows.). They might be using AI/ML in other ways but RE in general is data-averse. Especially in office, most cities have a small area with most class A space and local brokers know it like the back of their hands.
mortenjorck 7y ago
Cutting-edge ML and PhD data scientists aren’t essential elements of being a tech company. A traditional business with a mobile app in front of it is solving a problem with technology; it’s just not solving sexy HN problems. The point here is that WeWork has been hyped and seen valuations as if it were solving the aforementioned sexy HN problems, when it’s really just a regular, unsexy tech company that is solving more mundane problems of office rental with a nice tech stack and UI. I’m sure it’s a solid $5B business.