it's a real estate corporation with a lot of vanity side projects that serve effectively as marketing
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Ignore startup myth. Focus is enterprise long term- use cbre (16b mkt cap) or jll to find something currently. It’s creating a brand for regional offices. CYA for corporate RE decision makers. Assumes risk for landlord. Ideally gets some capex and marketing efficiency from scale.
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Coming from the real estate side, they are the first workplace occupier that has been able to effectively built a brand around their offering. Regis has been around for decades, had 2k locations in 150 countries and is worth 1/10 of WeWork.
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I’m trying to find the article but can’t right now but what I’ve read before is that they are very data driven, for example they have an average of 0.5 human per square foot of the average office space and they charge 1.5x more what the average office would charge per person
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It’s funny how a bunch of self-proclaimed contrarians on Twitter can’t see that hating on WeWork is the mainstream view. There’s much not to like about WeWork as a company, just like Uber, but the macro situation is that office real estate is surrounded by an industrial complex.
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You may like the conference I'm working on http://Inflection.splashthat.com
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It's no different from MoviePass. Spending VC money so that everyone else gets entertained.
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Yes. Their play is shaping up to be an equity seed investment platform. They take a chunk of some companies in their space in exchange for, effectively, rent. This is the only thing that can possibly justify the valuation.
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It seems to have parallels with Uber. Relatively non-innovative, cash-intensive old guard being disrupted with massive doses of VC/PE money (and tech, though far less so in WeWork's case), while hoping you are the last one standing in a battle of attrition.
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It's asymmetric! Unlike in public markets, it doesn't matter if 99% of potential investors think it's dumb. WeWork pitch is laser-targeted on the 1% who would bite (huge potential market, rapid growth, exciting story, big data, and so on). We can learn a lot from WeWork.
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@matt_levine does a pretty good job explaining We work here:https://www.bloomberg.com/view/articles/2018-04-27/wework-accounts-for-consciousness …Thanks. Twitter will use this to make your timeline better. UndoUndo
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It’s a creative way to do something old new, boosted by the startup bubble itself to generate more traction at high valuations. If it’s sustainable however, is anyone’s guess.
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It's a prolific subleaser with a knack for interior decorating.
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yea i dont understand either
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Don't forget "community adjusted EBITDA"
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