Or, look at it in reverse: the capital glut is due to a lack of good opportunities. Technology slowing down, infrastructure and real estate burdened by NIMBY-ism, govt.s already borrowing record amounts. If you had $billion burning a hole in your pocket, where would you put it?
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I don't think "Lack of good opportunities" is a parsimonious explanation for why Softbank has a zillion dollars to deploy, relative to: * founder preference * a mature business which spits off cash * a geopolitical opportunity to wash oil money * massive printing spree worldwide
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The biggest flaw in Ben's WeWork-as-AWS analogy is stickiness/retention. WeWork is pretty much a revolving door for most folks I know and competitors exist in every local market. If they turn a corner & create a truly differentiated product with no easy substitutes: kudos!
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I think the revolving door piece is true for *individuals* who use WeWork. Not as much for their "Enterprise" customers. If you are aggressively expanding geographically, it's super high overhead to either work with local coworking cos or secure local commercial RE.
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I think
@benthompson living overseas has become a competitive advantageThanks. Twitter will use this to make your timeline better. UndoUndo
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Interesting. It's the first time I see it. Usually people just write "^w".
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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