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That's because it is a bargain funded by VC money.
by hohoho12345 7y ago
That's because it is a bargain funded by VC money.
- koolba 7y agoWhich sums up a lot of what I like about Uber and Lyft too.
- redisman 7y agoIt is a sustainable business to have "cool" coworking spaces for $400 per month (adjusted to COL). Just not a $50B business.
- mdorazio 7y agoI don't think it is, though. WeWork's perks are a massive overhead cost, on top of the huge upfront cost of building out a space that is trendy. I have yet to see any evidence that this model is actually sustainable, even at smaller scale. Co-working spaces that are long-term sustainable tend to be some combination of more expensive, more boring, or less built-out.
- draw_down 7y agoA bargain is supposed to be a good thing! Let the VCs spend their money if they want, I'm not their LPs.
- ageitgey 7y ago$400/month is a VC-funded bargain? It's worse than that. The real VC-funded insanity is to sign up for an American Express Platinum Business card. One of the rewards is a year of unlimited hot desk access to every WeWork in the world for $0/month. I switched from being a long-term paying WeWork customer to receiving office space from them in one of the most expensive cities in the world for $0/month.