what was baffling about wework's valuation is that it wasn't anything new at all: the product and business model already existed and was well understood, and we

what was baffling about wework's valuation is that it wasn't anything new at all: the product and business model already existed and was well understood, and well understood to not be worth anywhere near that much. The only new thing was the founder managed to convince a bunch of VCs that it was a tech company somehow.