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It’s “tech theatre,” not tech. It’s how they got their funding, but reading what even the happy users on HN have had to say, the technology isn’t core to why pe
by braythwayt 7y ago
It’s “tech theatre,” not tech. It’s how they got their funding, but reading what even the happy users on HN have had to say, the technology isn’t core to why people rent from them.
- dreamcompiler 7y agoNailed it. Brilliant.
- blaser-waffle 7y ago> the technology isn’t core to why people rent from them Okay, I'll bite: what is the core of their value-proposition? A cultural aesthetic? Cheap rent?
- bpt3 7y agoAs a former WeWork tenant, their value proposition to customers is that they provide office space quickly and without any long term obligation in convenient, trendy locations. They're also very eager to beat competitors on price in my personal experience. Since it's very easy to set up a competitor (at least in my area, since numerous knockoffs have been created in the last few years) their margins are low at best, and they have almost no customer lock-in, I have no idea what their value proposition is for investors.
- hiharryhere 7y agoI'm not sure about the price-beating anymore. A few days ago I moved into a WeWork clone called JustCo. The spaces are much larger, look virtually identical and are in a neighbouring building. Price difference per month was $2300 vs $1600 + a month free. WeWork's best offer was 5% off if we signed for 12 months. No free beer here, but I've got a beer budget of $700 a month with the savings. It seems WeWork's sales guys here in Sydney have very little freedom to discount.