7 ms·

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 mob

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.

ben_jones 7y ago
The furniture isn’t snazzy it seems like cheap ikea stuff
- ada1981 7y ago
  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?
  - GhettoMaestro 7y ago
    Lol how full circle -- WeWork-membership being a negative selector. I remember when folks were telling me not having a WeWork space was a sign you didn't want to network with other like-minded folks.
    - swish_bob 7y ago
      Well, those aren't incompatible statements. It just pre-supposes that GP doesn't like the sort of people that WeWork attracts, but that they like each other. Personally I have no experience with WeWork, but I've never really found the urge to make much of an effort to know people from other companies in shared office environments. Sometimes it happens, sometimes it doesn't. But don't try to make me socialise with them, thanks ...
ttul 7y ago
Yes! They even use lava lamps in their lobby to generate entropy.
- konschubert 7y ago
  Which is a gimmick, to be clear.
deleted 7y ago
[deleted]
benj111 7y ago
Ah, but it has/had a tech company valuation. Why do you think valuations varied so wildly? You get the same thing with Tesla, it's valued more as a tech company than as car company.
- szggzs27 7y ago
  Clearly it does not have a tech company valuation, hence they pulled the IPO. You can't put a horn on a dog and call it a unicorn.
  - benj111 7y ago
    I said 'has/had'. Anyway reread the linked article, the IPO is back on.
- lordnacho 7y ago
  You can make a reasonable case that Tesla might grow a lot, whereas other car companies not.
  - benj111 7y ago
    Yeah sure, but if its valued similar to Ford, you'd expect it to grow to the size of Ford, at least. That seems a tall order, so then you're looking for other reasons for the high valuation.
- xiphias2 7y ago
  The biggest difference between car companies and tech companies is return on invested capital. According to that Tesla is somewhere inbetween a tech company and car company. Also it's the only car company that used software to substantially improve the performance of the car using software after selling it.
  - benj111 7y ago
    ROIC? Have you got figures because I just googled for Telsa, Ford and Facebook at that doesn't seem to be the case, albeit with older figures. Anyway at this stage Tesla are selling luxury cars to the converted, its unclear to me that they can keep doing that. Eventually they'll have to start selling to Joe Bloggs. https://www.gurufocus.com/term/ROC/NAS:FB/ROC-/Facebook https://www.gurufocus.com/term/ROC/NAS:FB/ROC-/Facebook https://www.gurufocus.com/term/ROC/F/ROC-/Ford-Motor-Co https://www.gurufocus.com/term/ROC/F/ROC-/Ford-Motor-Co https://www.gurufocus.com/term/ROC/TSLA/ROC-Percentage/Tesla%20Inc https://www.gurufocus.com/term/ROC/TSLA/ROC-Percentage/Tesla...
guiriduro 7y ago
Isn't a normal run of the mill business that happens to have an app the definition of a startup?
- pbalau 7y ago
  Is Greater Anglia a startup? https://www.greateranglia.co.uk/travel-information/journey-planning/mobile-apps https://www.greateranglia.co.uk/travel-information/journey-p...
- okmokmz 7y ago
  By that logic there is a local fish shop in my area that would qualify as a tech company/startup which they are certainly not

ben_jones 7y ago

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

ada1981 7y ago
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?
- GhettoMaestro 7y ago
  Lol how full circle -- WeWork-membership being a negative selector. I remember when folks were telling me not having a WeWork space was a sign you didn't want to network with other like-minded folks.
  - swish_bob 7y ago
    Well, those aren't incompatible statements. It just pre-supposes that GP doesn't like the sort of people that WeWork attracts, but that they like each other. Personally I have no experience with WeWork, but I've never really found the urge to make much of an effort to know people from other companies in shared office environments. Sometimes it happens, sometimes it doesn't. But don't try to make me socialise with them, thanks ...

ttul 7y ago

Yes! They even use lava lamps in their lobby to generate entropy.

konschubert 7y ago
Which is a gimmick, to be clear.

deleted 7y ago

[deleted]

benj111 7y ago

Ah, but it has/had a tech company valuation. Why do you think valuations varied so wildly? You get the same thing with Tesla, it's valued more as a tech company than as car company.

szggzs27 7y ago
Clearly it does not have a tech company valuation, hence they pulled the IPO. You can't put a horn on a dog and call it a unicorn.
- benj111 7y ago
  I said 'has/had'. Anyway reread the linked article, the IPO is back on.
lordnacho 7y ago
You can make a reasonable case that Tesla might grow a lot, whereas other car companies not.
- benj111 7y ago
  Yeah sure, but if its valued similar to Ford, you'd expect it to grow to the size of Ford, at least. That seems a tall order, so then you're looking for other reasons for the high valuation.
xiphias2 7y ago
The biggest difference between car companies and tech companies is return on invested capital. According to that Tesla is somewhere inbetween a tech company and car company. Also it's the only car company that used software to substantially improve the performance of the car using software after selling it.
- benj111 7y ago
  ROIC? Have you got figures because I just googled for Telsa, Ford and Facebook at that doesn't seem to be the case, albeit with older figures. Anyway at this stage Tesla are selling luxury cars to the converted, its unclear to me that they can keep doing that. Eventually they'll have to start selling to Joe Bloggs. https://www.gurufocus.com/term/ROC/NAS:FB/ROC-/Facebook https://www.gurufocus.com/term/ROC/NAS:FB/ROC-/Facebook https://www.gurufocus.com/term/ROC/F/ROC-/Ford-Motor-Co https://www.gurufocus.com/term/ROC/F/ROC-/Ford-Motor-Co https://www.gurufocus.com/term/ROC/TSLA/ROC-Percentage/Tesla%20Inc https://www.gurufocus.com/term/ROC/TSLA/ROC-Percentage/Tesla...

guiriduro 7y ago

Isn't a normal run of the mill business that happens to have an app the definition of a startup?

pbalau 7y ago
Is Greater Anglia a startup? https://www.greateranglia.co.uk/travel-information/journey-planning/mobile-apps https://www.greateranglia.co.uk/travel-information/journey-p...
okmokmz 7y ago
By that logic there is a local fish shop in my area that would qualify as a tech company/startup which they are certainly not