Another not-profitable company announced its going public today, with no clear way to become profitable. Initial Investors will recoup some of their money, but will the IPO be a flop in a few weeks? Another loss leader for run-of-the-mill investors? Your thoughts?
Please don’t buy it
Another hyper valued company that had a loss of a billion dollars. WeWork is not a real estate company per se, agreed. But they barely own the buildings that they are using and are thriving because of investors like Softbank. I pity the public who will buy the stock and take the grunt of it.
Contender for the most overhyped company in the history of companies
Everyone wants to go public before market crashes.
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How many of WeWork’s offices do they actually own? Actually owning the land they’re sitting on will afford them a good amount of flexibility for pivoting. That said the majority of their customer base is definitely part of a bubble. Also WeWork’s vertical business model is probably a good move. Being a one stop shop for any entrepreneurial venture or software workforce is an uncaptured market. Edit: All the signs point to growth in software jobs over the next decade (not necessarily growth in software pay). As more brick and mortar businesses grow their tech/web presence, WeWork can provide the entire vertical stack of a software workforce for these businesses. They have the office space and the potential workforce (having bought that software bootcamp). WeWork can basically consolidate the bootcamp / triplebyte / consulting industries into one well oiled package. I wouldn’t be surprised if WeWork starts swallowing up consulting shops in the near future, where consulting vets can double as both consultants and instructors. Idk if they’ll do well, I’m certainly not buying any WW stock, but I can see why they can be an interesting investment.
This is the first perspective I’ve seen of them “not owning real estate” being a strength instead of a major risk and it makes a lot of sense.
I’m saying owning the real estate would be good.