https://www.wired.co.uk/article/we-work-startup-valuation-adam-neumann-interview … contains this great line: "WeWork’s model is simple: it takes on large commercial leases...then rents it out in smaller chunks and on shorter terms." In short, it's an unhedged bet on commercial real estate, funded by dumb VC. Which, like, sure?
-
-
-
it's a bet that the property value will rise over the term of the lease. but the profit WeWork will make? lol
End of conversation
New conversation -
-
-
So, what you're saying is that I should go short?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Not to mention that it leases some of that real estate from its own CEO. https://www.bloomberg.com/opinion/articles/2019-01-16/wework-ceo-adam-neumann-is-also-a-landlord …
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
lol now that's what I call an elevator pitch
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Then again, who ever figured out how to get tech valuation attached to their real estate ponzi scheme is a goddamn genius, and that's the sort of out-of-the-box management team I want to invest in.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
This is the old Pinboard feed I fell in love with
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
So, it's Uber for buildings?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.