Does the world get to look forward to a repeat ‘rise and fall’ performance from Adam Neumann? Link 1 🔗 https://www.bbc.com/reel/video/p0h9q7kj/boomerang-ceos-do-they-ever-succeed- Link 2 🔗 https://fortune.com/2024/02/06/adam-neumann-flow-wants-to-buy-wework/ Trailer 🎥 🍿 https://youtu.be/UREIAoL0Spk?si=NWetQYuJ3VWQVpba #tech
WeWork is a luxury commodity in a time when companies have no shortage of commercial real estate options—especially considering that most tech companies are (regrettably) forcing their employees back to the office in order to save their jobs and have become outright hostile towards remote work. My question is: what audience is WeWork going to target, and how are they going to justify an investment with them as opposed to a competitor or already established company within the commercial real estate space? Startups are on thin ice in this market, and many are choosing to adopt a remote work policy in order to remain lean while downsizing their commercial real estate. Larger companies, especially FAANG, have leadership that firmly believes in the office and isn’t going to make the investment in WeWork since they have little to gain from having more flexible offices. Remote workers are a possibility, but compared to AirBNB and hotels, do they offer the benefits and flexibility to attract international workers on a consistent basis? I would expect them to pivot towards a blue ocean market, or niche down heavily into a particular sector that could use flexible offices, at least for the time being. TC: 105K
The real joker would be the that Japanese heading SoftBank. Adam took his cash and dignity. Burnt it while telling him everything is okay and laughed while doing it. Walked out with a handout and saw we work implode and now that it is worth Pennie’s has come back to take it back at a much lower valuation