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At their core they are probably not a “tech” company in the traditional sense (a SaaS business). However, I think you are misunderstanding what they mean by tec
by frenchie4111 7y ago
At their core they are probably not a “tech” company in the traditional sense (a SaaS business). However, I think you are misunderstanding what they mean by tech company. WeWork is more akin to Flexport. Their bet is that they can run their business 10x better than their competitors by vertically integrating their tech and investing heavily in sensors and efficiency technology. They don’t really intended to sell tech to people, they intend to use tech to bleed the most money they can out of their core business, short term leases.
- MegaButts 7y agoI have never seen WeWork compared to Flexport before. You don't consider Flexport to be a tech company?
- throwaway5752 7y agoSimilarly to AirBnB and Uber. Same kind of thing - use technology create a company of larger scale and coordination than previously existed in a space. I think the general WeWork idea is great. Investing in it is another story.
- jrockway 7y agoI am not sure I buy this. Sensors are great and everything, but the electricity for the LED lighting is not what makes buying or renting buildings in major cities expensive.
- askl56 7y agoSo what you're saying is that they are not currently a tech company but that they intend to become one?