4 ms·
Doesn't that ... devalue the company? they re now a real estate company without a spiritual leader
by buboard 7y ago
Doesn't that ... devalue the company? they re now a real estate company without a spiritual leader
- rtkwe 7y agoThey were always a real estate company, they just didn't get to IPO under the SV hype because as it got closer people looked closer at the company and realized the valuation was ridiculous and the CEO was lining his own pockets acting as landlord to his own company. Now that that's happened and it's all come out he has to step down.
- buboard 7y agothe way you described it, it's like a cult lost its leader
- celticninja 7y agoCult of personality
- rtkwe 7y agoYeah somewhat. Though instead of it's leader it lost it's appeal and the cult leader had to go into hiding. WeWork is still a decent business idea just no where near the crazy valuations it was given.
- hilbertseries 7y agoGiven how much money wework has lost this year, I think it remains to be seen if they’re a decent business.
- rtkwe 7y agoI mean more the underlying model seems like it should work. There's tons of successful coworking spaces it seems and that's a lot of what WeWork did just with the option for company size teams.
- openmosix 7y agoWhy "SV" hype? WeWork was founded and HQd in New York.
- function_seven 7y ago"SV" isn't just a place. It's a state of mind ;)
- dredmorbius 7y agoSynecdoche: https://www.merriam-webster.com/dictionary/synecdoche https://www.merriam-webster.com/dictionary/synecdoche See also: Hollywood. Nashville. Foggy Bottom. Quantico. Denim.
- rtkwe 7y agoIt's more about the type of hype than the literal place something is run from. WeWork was getting the same kind of 'change the world' and crazy valuations that tech companies get, the kind that assume the company will take over an entire industry.