5 ms·

WeWork has been an obvious fuckup to even casual observers for years, if people inside the company couldn't see this I really don't know what to say.

brianpgordon 7y ago
All the more reason for employees to be excited about the opportunity to finally see liquidity for their shares.
- jonknee 7y ago
  Well my point is it should have been obvious the shares were absolutely worthless.
- ghaff 7y ago
  A lot of people convinced themselves that if they could just make it to the IPO at least they’d have a lucrative way off the shipwreck. Oops.
pat87 7y ago
It’s hard to see things when your salary depends on you not seeing said things.
ImprovedSilence 7y ago
I can see how their leadership is a bit bush league and they are potentially overvalued, but it’s not obvious to me that their basic value proposition sucks or is that far off the mark.
- jonknee 7y ago
  They sell things for less than cost at scale, what basic value proposition is that? Read that S-1, it's an absolute hot mess.
  - munificent 7y ago
    > They sell things for less than cost at scale, God, I love this phrase so much. It's such a brilliant stab at many of these recent unicorns. "Oh you think they can burn money fast, well watch how fast we burn it! We're number one!"
    - mrguyorama 7y ago
      "We lose money on every transaction but we'll make it up in volume!" was literally the rallying cry of the DotCom boom/bust. It's not new
edm0nd 7y ago
The "no meat" policy is what did it for me. The company is such a virtue-signaling joke. https://money.cnn.com/2018/07/13/technology/wework-meat-ban/index.html https://money.cnn.com/2018/07/13/technology/wework-meat-ban/...
- cowmoo728 7y ago
  You know I would have thought it's the billion dollars per year of cash burn and the borderline theft of the CEO leasing assets to his own company instead of the meat, but ok.
  - edm0nd 7y ago
    WeWoke

5 ms·

WeWork has been an obvious fuckup to even casual observers for years, if people inside the company couldn't see this I really don't know what to say.

by jonknee 7y ago

brianpgordon 7y ago
All the more reason for employees to be excited about the opportunity to finally see liquidity for their shares.
- jonknee 7y ago
  Well my point is it should have been obvious the shares were absolutely worthless.
- ghaff 7y ago
  A lot of people convinced themselves that if they could just make it to the IPO at least they’d have a lucrative way off the shipwreck. Oops.
pat87 7y ago
It’s hard to see things when your salary depends on you not seeing said things.
ImprovedSilence 7y ago
I can see how their leadership is a bit bush league and they are potentially overvalued, but it’s not obvious to me that their basic value proposition sucks or is that far off the mark.
- jonknee 7y ago
  They sell things for less than cost at scale, what basic value proposition is that? Read that S-1, it's an absolute hot mess.
  - munificent 7y ago
    > They sell things for less than cost at scale, God, I love this phrase so much. It's such a brilliant stab at many of these recent unicorns. "Oh you think they can burn money fast, well watch how fast we burn it! We're number one!"
    - mrguyorama 7y ago
      "We lose money on every transaction but we'll make it up in volume!" was literally the rallying cry of the DotCom boom/bust. It's not new
edm0nd 7y ago
The "no meat" policy is what did it for me. The company is such a virtue-signaling joke. https://money.cnn.com/2018/07/13/technology/wework-meat-ban/index.html https://money.cnn.com/2018/07/13/technology/wework-meat-ban/...
- cowmoo728 7y ago
  You know I would have thought it's the billion dollars per year of cash burn and the borderline theft of the CEO leasing assets to his own company instead of the meat, but ok.
  - edm0nd 7y ago
    WeWoke