/biz/ - Business & Finance

The CEO went full incel mode. This is what will happen 10 years from now when LINK marines run the world, except it will moon the price of the company

>>15990955
Nothing , the ceo did retarded things but overall their business idea is pretty good in the current economic circumstances.

1_Buy real estate
2_Rent it

From the retard point of view it looks like a milenial cucked thing of the shared economy , but in a world where bonds give negative returns and interest rates may go negative it's a pretty solid business model even if you lose money you are buying real estate and mantaining it.

>>15990972
>but in a world where bonds give negative returns and interest rates may go negative
goddammit i'm so tired

>>15990972
>1_Buy real estate

Except they aren't BUYING anything but renting the buildings THEN subletting. That's a recipe for disaster even in a near-zero interest rate environment. Global commercial real estate will plunge even deeper due to these kikes (Neumann)

>>15990955
The entire thing is a sham/scam setup to entice large donors and VC firms to throw money at them, but once exposed for what it was everyone walked away.

>>15990955
Judaism

>>15990955
>What went wrong?
Dude walked away with $1.7B. Seems like everything went well.

>>15990972
> Solid business model
Holding several billion dollars of lease liabilities in a reconfigure to cram more idiots pursuing a "startup" on a month to month basis. It's a rental Ponzi wrapped up as a tech company. They are just trying to find a greater fool with kambucha, IPA's, and hustle. It's over.

>>15991643
This video validates your position I think
https://www.youtube.com/watch?v=Cb4CGn4a1Y0

>>15990955
Didn'tWork

>>15992029
>Didn'tWork
kek

>>15991535
This. It's a real estate contract company that tried to get tech valuations.

As it turns out people dont want to invest in a ceo who sells the rights to the word ‘we’ to his company for $6M (oyyyy)

Or who takes a loan from the company, secured by shares in the company, to buy real estate which he then rents to the company (probably at higher than market rates)

Or a guy who brings enough weed on the private jet to make the pilots uncomfortable

Etc

Etc

Dont worry though masayoshi son is going full retard and throwing good money after bad and going down with the ship

>>15990955
Annual income: $20, annual expenditure, $19.50 = result happiness
Annual income: $20, annual expenditure, $20.50 = result misery
Annual income: $20, annual expenditure, $20b = result JUST
tldr: they lose shitloads of money

>>15992251
Masayoshi Son is a scammer who knows that in a bull market meme tech companies will generally go up. Then he charges an asset management fee for his funds and sucks dry investor equity until the eventual collapse. He did the same thing before the tech bubble burst.

What do you mean? The exit scam is literally being executed exactly as planned. Pic related

>>15992285
>Masayoshi Son
This
He got lots of Saudi money this time.

>>15992024
great video anon

>>15990955
>Startups want our office space
Startups actually want office space that they can setup their own secure WiFi networks in, WeWork only lets you use their wifi, so startups don't really want the office space.

>Technology element
If having wifi in your building makes you not a landlord but a tech giant then it sounds like I need to go into property ownership.

>WeLive
Shared living, generally bad locations so not good for students, only really used by traveling workers and lonely basedboys.

>We
Claims intellectual rights over the word "We" hope they don't burn all their money on WeWork because I'd like to see the legal case.

>>15992344
>Startups actually want office space that they can setup their own secure WiFi networks in, WeWork only lets you use their wifi, so startups don't really want the office space.

THIS!!!!!!


I am t he CTO for a company and our brain dead CEO chose WEWORK even tho I told him it would be a fucking nightmare for IT.

THEY DO NOT HAVE IT ON SITE!!!! THEY ARE IN ASIA!! US OFFICES DO NOT HAVE ANY IT STAFF ON SITE WTF

So if you need a VLAN reset or the WiFi is down or the community printer is jammed TOUGH SHIT wait 3 fucking days for a chink to reply to your ticket with a question you already answered.

We have no control over our own network and I am sure they are spying on all our data.

>>15992344
>WeWork only lets you use their wifi
srsly ? Jesus Christ

>>15992381
He sounds stupid enough that if you created a leak bet he would panic and drop WeWork all together.

It's funny they act like it's a selling point, when you could easily hire a T1-3 help desk team.

Pros:
Local business
Your own network
ASAP response time
Don't need to house them

Cons:
Literally none when stacked up against WeWork.

>>15992414
Worse even, some locations only have one printer room so there will be 20+ startups fighting over the same 2 printers and scanners.

Honestly think startup office, but with shared IT. That's WeWork and yes it's as stupid as it sounds.

>>15992318
>great video anon
glad you liked it.
That channel is a good one to follow with info about Tesla and SpaceX.

For a more general discussion on WeWork from a VC perspective you might like this.
https://youtu.be/aM1DDVq3_vs?t=192

>>15992267
lol

>>15990955
People investing in a real estate company at tech company valuations is what went wrong. The core business could actually be viable. Subletting large spaces to smaller tenants who need more flexibility than a typical office lease does address a legitimate market need. Investing in this at a $40B valuation is where things got ridiculous. Also, the ability for this kind of business to weather a prolonged market downturn is highly suspect if they're signing long term leases on these properties.

>>15992414
>>15992451

Can confirm one printer for everyone. I made the area managers life hell until they forced their IT to section off a VLAN for us and we have our own printer now. BUT if the VLAN goes offline it literally takes 3 days for their "IT" to reset it.

It took them almost 2 months to make a VLAN something that any T2 tech should be able to do in 5 minutes.

>>15990955

We will get more of these stories because of all the Fed cheap money floating around making its way into useless investments and IPOs.