Why WeWork Is Considering An IPO Despite Losing $1.9B in 2018
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- Опубликовано: 18 окт 2024
- WeWork's parent company, The We Company, is set to go public this year. It's the latest in a string of richly valued start-ups considering an IPO in 2019. Even though The We Company was recently valued at $47 billion it’s hemorrhaging cash and lost $1.9 billion on $1.8 billion in revenue in 2018.
Things improved for WeWork in the first quarter of 2019, but only slightly: The company says it lost $264 million on $728 million in revenue during the quarter.
Its core business centers on renting out co-working spaces to everyone from startups and freelancers to large enterprises. WeWork says it’s in 485 locations and has 466,000 members, up from 186,000 in 2017.
The We Company's CFO told CNBC that investors should look at WeWork’s losses as “investments” that will lead to more cash flow. However, Lyft and Uber’s recent IPO stumbles could bode poorly for WeWork’s chances of a successful debut, as investors seem wary about taking a bet on companies that lack clear paths to profitability.
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Why WeWork Is Considering An IPO Despite Losing $1.9B in 2018
Why file for bankruptcy when you can file for IPO?? Modern problems require modern solutions XD
Sir, I would like to hire you to help my startup: techcompany.com
This may sound crazy but hear me out... There are many money losing company that was able to successfully go public recently and this may prove that there is a major paradigm shift in the investment world. Instead of maximizing shareholder wealth, the goal of the modern company should be to maximize societal wealth. As long as the service the company is providing is beneficial to society, the greater the loss, the better it is to society. So, a company that is losing ten billion dollars should be worth much more than a company that making money, because it is making society better. Companies should not aim to make money, but to make the world a better place, even if that is a money losing venture. We are entering a new world where people with money should give back to society, as proven with negative yield bonds and high valuations of money losing companies. Soon, negative interest on your bank account will happen, and that should be welcomed.
The Great of Beam
The implication is that society today - this very second - is worth more than the future. If the economic practise is unsustainable, then it will not last and often has extraneous effects. A similar comparison of ‘societal benefit’ could be the nationalization of all coal for the production of energy.
But carbon emissions?
Yeah, just like that. There will be knock-off effects with this tactic: negative interest rates promote rapid consumption, meaning greater materialistic tendencies (and subsequent pollution). And it stifles investment. Investment that enables capitalistic expansion that has cut the world poverty rate in half in a few scant decades.
And since money isn’t worth it to hold, people will have greater demand for immediate goods - bidding up prices while supply ultimately falls into nothing.
So then we’ll be left with nothing because people hedonistically prefer to live in the present. Bleeding money is not a new paradigm; it merely is a bullet to the chest that, once upon a time, would be a life sentence. Lead poisoning, infections, or immediate death; yet, now people are so over-protected, via societal regulations, bankruptcy laws (instead of cut-throat loansharks) and the immediate access and quantity of fiat currency, that bloodbaths, IV drips, antibiotics, and resident surgeons are basically on-board and on-staff despite the diagnosis being the same.
It still does not follow human behaviour in a large enough scale to become tenable and the societal ramifications, ignoring even easily seen issues with future procurement and allocation of resources. It is different if it is a business model that is untenable without macro, trillion-dollar scales necessary for income streams to be viable (which are expressed as economy of scales); however, those are different than ascertaining a company’s (even social) worth by how much they lose money.
It is an acceptance of the current social status (or lower) as all future investment will cease. If you expect it would just destroy the paradigm around financial resources, it would bleed over into any store of value - and not even pure exchange materials like currency, fair or not, or bitcoin. Gold, steel, cars, trains, and plaines will cease being created; progress halts, depreciation (and natural, organic degradation) mounts, and then the things that people once created for an another they did not know had a reason to to (for exchange of payment) now have no reason to interact with anyone outside of direct family and friends, in terms of the expense of material resources, expertise, and time.
All global supply chains suffer, human games involving the accumulation of a (in)tangible resource now concerns power, for positive or negative ends. So we’ll arrive at conflict when we had cooperation.
Call it an evil if you want, but it is a lessor one. There may be faults in the system, but there is no merit in proclaiming a sinner a saint - and a saint a sinner - just because some benefit from the former and some slip through the cracks of the latter. There has to be a more holistic approach than blanket assessments like that.
Unazaki haha
@MrBigEnchilada the same reason why charitable organization exists.
2025 - WeBroke
Haha
I laughed so hard
Hahahaha
You made my day
sung jin lee 🤣🤣
😂
I always saw WeWork as a real estate play pretending to be a tech company.
Everyone wants to pretend to be a tech company.
More investor money if labeled "tech company"
You don't get the hype if you don't call your company a "tech startup", come on they are just renting offices 🤣
Exactly what they are
Saral Thakur tech firms get more money on valuations. Multiples for tech firms are based off user and unique visitor multiples. Especially if they’re GROWTH focused. They drastically overvalue companies like REVOLVE and other companies. Personally, if/when this company goes public I will short. They’re going bust in the next recession. Tech is over valued. Real estate will suffer greatly. It will fail to cover its necessary expenses.
You know it's a bubble when all these IPOs have multi billion dollar valuations and they don't even make money...
They make money just not enough.
Finnessen for real
I've had the same feeling for a long time. They give people a story they want to hear, lower prices to the point where profit is unattainable, and then preach about what a great success they are... And the market keeps on pumping money in to them?
Sese Talitau-Tio ........lol.....
Are you serious ?????
It's like selling a lemon for $1 knowing it cost you $10 to make and calling yourself a businessman.
But don't worry .....just go public , get $12 back then retire from company ! Easy $3 !
And you know it's about to burst when they all IPO at once
"We're not a real estate company, what we do is take property an rent it out" lolwot? the next recession is going to be astronomical.
DigitalDistribution truth
That's why they're trying to get listed on the exchange now, and take the public's money before the crash ... :D
Buy supplies lol
Thief’s come to steal
sad to think that peoples retirement money will be invested in this piece of garbage
This is an absurd world we live in. I remember the dot com bubble burst of 2000 and they said this could never happen again. That was nothing compare to this insanity!
exactly what i'm thinking. a lot of nonsense IPOs like this lately.
If there is no cash flow, just say no. - Kevin O’Leary
Oversimplification of what he had said. Startups are a different animal than regular already matured companies.
WeWork does have cashflow, so I'm not sure your point.
@@jwonz2054 yes, negative cash flow...
JWonz you’re an idiot. 10 yr old company. It’s roadkill.
Richard Rodriguez that’s the literal quote
I hate Wework facilities. No one knows what's going on or who works there. Never schedule a meeting with someone who uses a Wework facility.
theylied1776 too bad. Been a member for 3 years now and can tell there’re some amazing people and companies in the community. It really is not about just real estate.
Sergey Belov today I learned you can’t have community outside of the roof of our corporate overlords
Socializing the losses, the new IPO way.
Not really you are not forced to buy the stock
Yeah, but public pensions will buy the stock, and even worse- the debt.
@@העבד what debt public pensions usually make their portfolio diverse so if one company loses they don t just go bankrupt
Preach!! דוד
@Colma B no becouse you are not forced to invest they definitely look into company's and make sure it is a safe trade
IPO’s are a get rich quick scheme for the owners. If no big company buys you out. Go public. 😂
Going public is like make into a billionaire please I beg you.
@@keamontamu Don't make any sense.
Well yeah, but it will undergo public valuation first, and publicly assessed in which public can judge. I still don't understand how they got such a high valuation.
The places where hipsters work to support their instagram lifestyle
i agree with you that everybody should die in a coal mine
What an ignorant pointless comment.
Zenn Lozanno InStAgRaM lIfEsTyLe
You must’ve never been to a we work
vietimports huh? What about his (somewhat exaggerated comment) suggests anything about suggesting we all work and die in a coal mine?
What a crazy reply
My bs detector went off the charts by listening to the guy
I still don’t understand the concept on how this service isn’t already being provided at no cost at like a Starbucks.
LMAO right. I pay less than $5 to sit at Starbucks and do my work. And I don't have a contract. I come and go as I like. They're asking a $300 a month on a space to work. Sure tech bubble. I get it. It like the dot com bubble. 2 years from now after all these tech play, Uber, Lyft, Pinterest are over, people will be wondering why they short the freak out of these stock when they are reporting losses and have no idea when they will be profitable. Hahahaha
Zio Oren i from the looks of the commune spaces, you cant do that at we work either
Its ASetUp you don’t understand the difference between coffee shop and an office because you have not had a serious job that requires talking to clients. No business will give you any serious contact if you can not even afford to set up a home office.
Tell potential clients “Starbucks is my office “ and they hear “I live with too many roommates and/or can not afford internet connection.”
Robert K i see I triggered you. Im a professional engineer. I always meet my clients at Starbucks. They usually suggest it. I usually get an outside table as size D plans fit nicely there. They like the fact that i am cheaper than most, as i do not have the overhead of an office. Also did a AI startup last yr and my team mates and i used a Jason’s deli backroom. Worked out great. Nice salad bar. Do you need a hug?
@@jr5925 people use "networking" so liberally these days. A bunch of randos that SOME may happen to have some sort of tertiary relation to your industry is hardly networking.
Soft Bank is high for putting in so much money
Thomas Riley yeah, they are the ones who pushed their valuation so high.
andrew .stern yeah it is crazy! Idk how visionary their vision fund is
Softbank has put money in a bunch of stuff...that will eventually go to ZERO!
Ebong Eka so true!
@@tomriley1492 They have huge positions in UBER and others like that. for 2001-like!
3:07 We're not a real estate company. We use real estate 🤷🏽♂️
LOL 🤣🤣
Notice how he chokes on his own lie? As a real estate company the valuation is nuts. So he has to pretend to be a "dot com"... I mean a "tech company" in order to balloon their valuation.
Kay Dim He LITERALLY choked on his own lie.
I will start selling tacos and proclamate my bussiness as a "tech startup" just because it attracts more investors 🤣🤣 they are just leasing offices come on!!
Loses 2B in a year and still isn't out of business. Absolutely mindboggling. Capitalism has failed miserably.
Lol this is proof capitalism is working. Those rich investors aren’t going to loose their money therefore they use the crappy system of capitalism to dump worthless stocks on individuals. Make their money back and recycle the process.
How? Nobody is forcing investors to pour money in.
You get a benefit on someone else's dime simply because that someone thinks that maybe itll make them money one day. Most ventures big or small dont. The only downside is that it's obviously temporary but so are you, so how's it failing? Because some idiots are losing their money? You rather live in a world where the idoits get told to spend their money in a better way? And if you do, what makes you so sure you won't be the one who's behavior is "corrected"?
Capitalism is when the money is used
Capitalism is when people give money to people in order to earn more money.
I am so sick and tired of these companies that are being valued at XYZ, yet make no money. And, a lot of times they carry debt.
This mathematics has never made sense to me. :(
ricky v the “amazon model” as its called, people seem to forget that for every amazon there are hundreds of failed ventures that burned cash and went bankrupt
I've got some fruit with a longer future.
"WEre not a real estate company. WE just buy estate that is real."
...and we build some our selves.....we also sell some real estate to ourselves too!
"Look at losses as investments".. …
Me : how are they even allowed to say such s*#t??
random computer sound 4:02
Time for lunch!
Really? People don't want to spend $450 every month for a rotating desk in an open office with randos? I'm shocked! Shocked! ... Well, not that shocked.
They have no obligation to stay longer than a week or month. That's why we have 1 year leases.
We Work as a company seems like a collection of buzzwords.
And they are collaborative!
It's WeWork. CamelCase man...
Creators!
I have attended events at a local WeWork space and I will say the whole coworking space concept is very marketable to people who like building community/ work in nonprofit sector. Their spaces are beautiful and the staff was really helpful but I understand how this can get super expensive
6 years from now people will look back and say this is what caused the recesion. overvalued tech startups this screams 2001
Anyone who calls WeWork a "tech startup" is lying to you. There is no question that they are a real estate company.
6 months. The recession is coming.
3:07 "We're not a real estate company" proceeds to talk about how his company rents real estate to individuals
Oh but you can book a room through an app on your phone so that MUST make them a tech company right?!? Right?? wink.. wink.. Right? elbow nudge... Hello?
leases buildings = tech company. How?
Using an app I guess.
They "collect data" and everyone that collects like 3MB of useless data is nowadays tech lol.
They have broadband. There's some tech there
i think wework business mode is fake, they can't survive with 5 years
softbank realised that and pushed for an IPO
“...losses are not a problem...”
Of course losses are not a problem, since it is other people’s money that are being lost...
He knew full well that he could never make a profit but kept the charade going
The only winners here: the landowners leasing to WeWork
Yeah I was offered to have my spaced leased by them. I passed.
Imagine if you had a whole building rented to these people and they go under. Or their lease is up and they say “we want a 20% discount”. If they bail, you’re dead
For now yes unless wework collapses then the landlords will rush to find new tenants if they can.
Anyone putting money into WeWork, Uber, or Lyft are in for a hell of surprise when all the money dries up.
If the stock does not fall 80% or more, I will eat my shoes.
Are a time traveller?
@@priyansubhagabati8157 it was simple maths it was a bubble regus was far better than we work and actucally making a decent profit had more workplaces than it and still valued around 5 billion so obviously it was a bubble
@@priyansubhagabati8157 like nikola its also a bubble
Have they ever heard of a library?? My library even has a cafe, and its FREE(not the cafe). Am I missing something?
A library with a cafe? Be still, my heart!
But does it have a ping Pong table?
Tall Random Guy yes, you are missing something-real work experience. Real jobs require talking to people, in person and over the phone. Try to do that in the library and you will be asked to leave.
And no client will take you seriously enough to give you any work if they find out you can not even afford to set up a home office and need to skim free internet from a library.
Libraries are great but homeless folks come into them all the time and investors/clients will see them and won't invest
Free beer?
This CEO and cofounder is very shady, he bought property personally and then rented it out to WeWork and got caught.
Why does a loss making real-estate company has a tech valuation?
because they have a website, doofus
Adam Neumann buys properties and rents back to WeWork! I wonder if the rental rates are inflated as well? This is a huge conflict of interest. The asset isn’t owned by the company but by one private person. WeDodgy
This company will not be around after our next recession.
You’d make a ton of money just shorting these companies who don’t look for profits
They say they are worth $47 billion because of their 466,000 customers. Each customer is worth $100,000+. I have been a customer of theirs and i am not worth $100,000. One of you other We Work customers need to be worth about $190,000 to balance me out.
@sbtopjosh - I know. It was a joke (grin). I was just making fun of the $47 billion valuation, especially, since their main competitor, Regus, has already gone bankrupt, once.
2019 WeWork
2021 WeBankrupt
I can't see Warren Buffett or Charlie Munger buying shares in this money-pit.
deff wont have money in these IPO's munger's idea of investing "if it has no cash flow, just say no" fits well with these silicon valley unicorns
Polymatter did a better coverage
He makes some next level videos
Seriously! How on earth one individual creator who probably isn't even a full-time youtuber make a video that is 10 times better than one created by a full team from a major network with all their resources. Polymatter is killin it!
Hirad Khakipour agreed. Answer likely because it’s Polymatter’s passion but these guys jobs they fell into.
Hirad Khakipour well Polymatter is part of the superior race so I think that helps
Virgin CNBC va Chad Polymatter
I have a WeWork in my area and it's called Starbucks!
Another pump and dump
They want to get "too big to fail" tell that to Enron and Lehman Brothers.
3:06 the voice when you've been partying every night for a week
Yeah inhaling the smoke machine 👨🏻🎤
Why would you want to when you can work at Starbucks for the cost of a cup of joe?
Or at a library for free. Most libraries have transitioned to computer working spaces with large tables, lots of lamps, and lots of electrical outlets. They have clean bathrooms and quiet.
@@Bra-a-ains Excellent Point: I belong to the Mechanics Institute Library in San Francisco. It's one of the oldest private libraries and chess clubs in the country. It's only $120 a year. The SF Public Library has, unfortunately, become a de facto homeless shelter, where thefts are rampant and the smell! Librarians are now social workers.
Michael Sanches depends on where the library is. Most heavily “blue” areas they exist to house the homeless.
But also (and our family loves our local library and we donate to it), libraries have a stigma. If you’re trying to set a meeting at a library no one will take you seriously. If you say you’re meeting at a wework site they’ll think you’re hip and cool
I interviewed once for a company at a WeWork office. That company lost all credibility to me and I wouldn't work at that place for +50% of what I make now, It took the guy 30 mins to even tell who I was among the other "employees".
A friend of mine is working there now on a work-sponsored visa. It was her last ditch option to get to stay on in the country. If they start layoffs, she might have to go back.
Since the WeWork's CEO called to pay $6 million to acquire “we” brand which the same WeWork's CEO was holding name "we" for his personal brand, I understood there're some dirty games happening behind this business and it deserved to be broken.
I recall a place back in the day where you could have a quiet workspace under a similar model but was free. They called it the public library.
It's because these companies think they'll get bought out by a BIG player, but that won't happen
One thing Amazon cares the most other the customer since 20 years ago is the company's positive FREE cash flow. I dont see how WeWork resemble Amazon here...
Define free cash flow
So WeWork is Air BnB for commercial space?! Right or wrong? It looks that way to me!
Nope.
AirBnB is a marketplace of buyers and sellers. WeWork is a company that buys office space and sells it to others.
They're not really doing anything new here.
If AirBNB leased apartments to offer to travelers, they'd be similar. But AirBNB doesn't, and that keeps them from getting stuck if people travel less.
Can you short an IPO? Asking for a friend.
Yes sometimes but not ordinary people
If you have the means, u can short anything.
I think you must be certified, not everyone can short a stock
Depends on the broker you use. I use Robinhood and shorted both Uber and Lyft as soon as the short options become available. Can't wait to short WeWork too. Uber and Lyft are successful companies compared to the big joke WeWork is lol
@@Hiraaad shorting and buying puts are two different things.
The only other world wide co-working company, Regus, went bankrupt a few years ago and is now back in business.
There are so many free spaces to work.
Denise Williams do people not have desks at home where they already pay rent,ac, internet access, kitchen, and plumbing?
Up next, WeCrap, an innovative game changer the way that "we" evacuate and go poopies.
Genius, does it wipe my ass clean and give my ass a fresh scent?
Roger I can do that for a lot cheaper. Problem is people want technology forced into everything. Sometimes there’s nothing better than a human touch.
@@THEISAAC1593 It washes away the sins of your ass faster than you can say Pope Pius the 12th. While enriching your life and your common connection with the "community".
@@jimthompson939 I'll take 10 toilets
@@unknowingreaper6556 how much we talking about?
There have been studies that prove shared space is not only counter productive but worse for employee morale and health. It's terrible.
My company used WeWork for about 8 months for one of our offices. It was an absolutely terrible experience and we've now moved that location back into a traditional office space.
How to make a profit with WeWork. Turn all those cubicles into housing rentals. $2500 a month.
In Malaysia, so many co-working spaces have popped up that no one is loyal to one another. There is no comparative advantage anymore.
wow CNBC with amazing coverage keep it up!
It’s so strange... In Malaysia there has been a recent increase in the establishment of such shared workspaces but here the workspaces are all owned by very small startup businesses and vary in workspace design from austere to posh, while this WeWork in the US is going for broke by being so big that their very size is collapsing into themselves...
Ahh so amusing, I wonder if their going outta business is gonna be as spectacular as a bank run lmmfao
We live = we hostel
Use a public library ( free study spaces and internet), bring coffee.
This is a real estate business plain and simple. It deals in renting out property call it office space or property rental. They want to rent to techies so that suppose to make them a tech company? Huh?! That guy in the video trying to sell this business as a new tech business concept is so full of crap. He's selling a gimmick only with a lot of hype. This company bleeds cash big time. The question is can they get enough tenants and they are facing a big uphill obstacle. How can anyone invest in a company that constantly lose money, sees no real profit for the foreseeable future? Anyone buying this IPO is just gambling with the odds heavily stacked against them. Also you have to wonder about the sanity of the management of Soft Bank for investing so much money in this real estate scheme.
WeWork's interesting pitch is to aim for creators, freelancers and start-ups yet wants the corporate conglomerate dollars to keep them afloat. Who is their customer? The number of global locations vs. subscription tenants is shedding light that adapting the work environment still requires people to do just that... come in and work (paying for their space). If I go to a public park to blog or decide to spend $100 for a coworking space for a meeting... it appears transactional for some customers. It's an option; not a destination. The remote workers looking for a easy access footprint might be an angle. It just seems like real estate hiding behind coworking spaces.
What’s that beep at 4:05
Sprinkled Donut the guys email lol
It’s similar to Airbnb, large buildings don’t have a central location or capacity to fill up their unused space in an efficient and consistent method.
Hear similiar scam like this, WE won't get fool again.
Lots of negativity in the comments. Happy so many of you exist because it leaves much more room for real innovators to make change.
Dafuk are you talking about? Can't you see a ponzi scheme when it's in front of you?
God I can't wait to short this! Hurry up with that IPO, I got payments to make.
I get Airbnb losing money to get market share, I even get uber but wework just rents on real estate space. How do you justify that?
if Uber is lossing, Lyft is lossing, WeWork is lossing, who are making money?
Building owners and drivers.
Am I missing something? Why are we calling it a "tech company"?!?
Wework is a gloried "subleasing or sub-renting a portion of a space for work or service i.e. booths or a swap meet like area.
Nice summary by CNBC here, if you're reading this comment, please note some points not addressed above:
i. ARK Fund ($2.9 bn vehicle) is NOT operationally independent of the We Company (though it is operationally independent of WeWork) - ultimately, the same (group) management board is calling the shots; also, note that this exposes 'We' to property price swings which may be penalizing during recessions (which would be bad enough with low occupancy rates as stated in the video!)
ii. WeWork has another major issue to address - it has ATLEAST $500M outstanding in high-yeild bonds (and additional debt financing provided by institutional investors); as a cash-burning company, common sense tells you taking on debt is VERY risky (especially given that a path of profitability is yet not clear, at least to me!)
Please think carefully before subscribing to this IPO (assuming it is able to find underwriters!)
“Invest so much get so big that eventually one day you turn a profit”
I’ve never heard a more foolish game plan. Like digging through a garbage dumps while paying rent to the dump and hoping to find a bar of gold one day.
I'd invest in wework as a real estate company
why not just get into REITs then?
We work proudly sponsor this article
Expansive growth + annual net losses = a disaster in the making.
Wework is dependant on work culture more than anything else. Heavy users of coworking spaces are digital nomads and remote workers in general.
No company is dependant on work culture, all companies are dependant on cash flow. The public market do not price the IPO base on work culture, WeWork is going to crush the moment they go IPO, and the next thing they will do is file for bankruptcy after burning public money, this is a heist.
@@peadora U don't get it. The heavy users of coworking spaces are remote workers and digital nomads. Both these types of people are dependant on the leniency of company work culture regarding working remotely. If the remote work "trend" catches on, coworking spaces will see more traffic, which will boost revenue for Wework.
@@ericyuan9718 What you don't understand is business. You are talking about nomads, they are born to move and there are no reasons they need to stay with something like WeWorks given they have 0 hour lease contracts. You talk about culture, Starbucks and Facebook was cool for these hipsters before both got so big, now they are evil, old and uncool, at least they got a bis model when WeWork never will. WeWorks is getting too big and ugly to be cool for these nomads. The only reason people stay is because WeWork is burning money to keep the rent cheap, when the hipster goes, they won't even give a notice, they will just disappear, alongside with WeWork's unrealistic evaluation.
@@ericyuan9718 IF the remote work trend catches on, people will either work at home or some one will come up with a more "Indie vibe" space with better concept, WeWork's problem is there are no barrier of entry in this space, they don't have tech they don't have patents, and what they do is not even cool anymore. They are crashing within 5 years, once they burn all their money.
@@peadora I never said I thought WeWork will be successful. I just said they're dependent on a fad or trend which in many cases is wishful thinking.
As long as they own real estate and hold them long enough, they can hang around for a long time.
Who in their right mind would invest in a company that loses money?
If they lost money, that mean they are not worth 47 billion.
They are worth nothing.
and Lord Ba'al understands nothing.
So there’s other things that go into valuation, assets that the company owns are also considered, most importantly however is the potential, so how much potential is there for these companies to grow and become the next apple, or microsoft or amazon, and thats what drives the valuation of these companies (look up option pricing for companies)
Valuation includes future revenues as well as current revenues, assets, liabilities etc
@ocelot. It does make sense. When we buy stock, we are focusing on its future potential. When the company is leaking money, some investors like you might believe the company is failing. Others might see the money leak as a no consequential problem and see it as an opportunity to buy an undervalued company
@@tonyhuang2594 All of you are stupid. They made no money. So their value is nothing.
"you invest so much that one day you do turn the profit" - wow, what an attitude to investors money!
Apple; "i"
We Company; "we"
Whats next??
U ber
“You” Tube
If I had any money I’d place a short on We Work. I’ll bet it’s completely out of business or either acquired and totally transformed in the next 5 years or so... more likely the former
"we're a community of creators"..
i'll call you con artists
Meh, I don’t know. There’s one down the street but I’ve never heard of anyone using it.
India we work division has exited with $2bn payout
Can someone explain to me why anyone would invest in a company like WeWork or Uber when they show no possibility of profits long term?
I'm not liking any company doing an IPO as this stage of the business cycle.
yep, generally the IPO happens when all the easy money has been gleaned. if they're losing money and they're doing an IPO, it means the original idea didn't work out and they're desperate.
No profit no tax
They are an overglorified real state company
Oh
IBM rented from them
They are the leading makers of buggy whips now
Where do I sign up?
It doesn't seem like anyone actually does any work at WeWork. It looks too distracting for me.
Seems like an all-day office party.
Can some one please explain to me why startups which are not making any money file for IPO...is it just a way for investors to cash out....or are there other reasons????
WeWork in a country that has falling labor participation rates. JFL at all of this economy. No your hipster background music isn’t helping.
I’m pretty sure the capitalization in the title is wrong.
I guess their business plan is to make up for loses with volume. Brilliant!
They have to ensure their services are best.
We are in a new era where companies does not make any profit or produce anything and are valuated in billions, just because a bunch of rich investors throw millions to raise the stock price that does not mean that the company worth it.