5 ms·

I wonder how much it would cost if SoftBank wasn't footing the bill haha. I find it hilarious that you state no one is there even at these prices. I imagine a

I wonder how much it would cost if SoftBank wasn't footing the bill haha. I find it hilarious that you state no one is there even at these prices. I imagine an investor reading that. His scribbling on the slide reminds me of the gnomes' plan for making major $$$ from collecting underpants on South Park. How was he going to get to those numbers?

ghaff 5y ago
I assume with the pandemic that many companies aren't renewing any contracts they have. And relatively few individuals are going to pay for even a discounted co-working space out of their own pocket just so they don't need to work out of their apartments.
- onlyrealcuzzo 5y ago
  Yeah - a dedicated desk is usually >$400/m. After taxes, this is >10% of income for >70% of the population. If Americans in cities didn't already spend >60% of their after tax income on rent - I could see this being more popular. There's just not enough people that make enough money and don't work at a good company that already has nice offices for this to make sense. I agree, in theory, WeWork is a lot better to work at than most people's apartments. I'm not convinced enough people have enough money.
  - ghaff 5y ago
    And, under normal circumstances, there are libraries, coffeeshops, parks with WiFi, etc. I live in an exurban house with an office and other space but even if I lived in the ~1 hr drive city away in a studio, I'd time-slice among free/cheap working options before I'd pay $400+/month for a dedicated co-working space for myself. I could afford to do so but I wouldn't.
    - paulcole 5y ago
      I said this in another comment but the 3-month introductory rate I got is $150/month going up to $300/month after that. The biggest advantage I’ve seen over libraries/coffeeshops is that I’m expected to be there working all day and it’s fine for me to hog a desk/space as long as I want to. I don’t have to think about whether I’m being selfish or bothering anybody else. Plus the WeWorks have really great quiet booths for phone calls which very few free/cheap options have.
  - voisin 5y ago
    > After taxes, this is >10% of income for >70% of the population. Wouldn’t this cost be a business expense and so best compared to pre-tax income?
    - tasn 5y ago
      Not when the employees are the ones paying, which is what GP was referring to.
    - paulcole 5y ago
      Nope. I pay this out of my own pocket (I’m a full-time employee) and it’s not deductible expense in the USA.
jbverschoor 5y ago
The weworks here are 90%+ vacant

ghaff 5y ago

I assume with the pandemic that many companies aren't renewing any contracts they have. And relatively few individuals are going to pay for even a discounted co-working space out of their own pocket just so they don't need to work out of their apartments.

onlyrealcuzzo 5y ago
Yeah - a dedicated desk is usually >$400/m. After taxes, this is >10% of income for >70% of the population. If Americans in cities didn't already spend >60% of their after tax income on rent - I could see this being more popular. There's just not enough people that make enough money and don't work at a good company that already has nice offices for this to make sense. I agree, in theory, WeWork is a lot better to work at than most people's apartments. I'm not convinced enough people have enough money.
- ghaff 5y ago
  And, under normal circumstances, there are libraries, coffeeshops, parks with WiFi, etc. I live in an exurban house with an office and other space but even if I lived in the ~1 hr drive city away in a studio, I'd time-slice among free/cheap working options before I'd pay $400+/month for a dedicated co-working space for myself. I could afford to do so but I wouldn't.
  - paulcole 5y ago
    I said this in another comment but the 3-month introductory rate I got is $150/month going up to $300/month after that. The biggest advantage I’ve seen over libraries/coffeeshops is that I’m expected to be there working all day and it’s fine for me to hog a desk/space as long as I want to. I don’t have to think about whether I’m being selfish or bothering anybody else. Plus the WeWorks have really great quiet booths for phone calls which very few free/cheap options have.
- voisin 5y ago
  > After taxes, this is >10% of income for >70% of the population. Wouldn’t this cost be a business expense and so best compared to pre-tax income?
  - tasn 5y ago
    Not when the employees are the ones paying, which is what GP was referring to.
  - paulcole 5y ago
    Nope. I pay this out of my own pocket (I’m a full-time employee) and it’s not deductible expense in the USA.

jbverschoor 5y ago

The weworks here are 90%+ vacant