WeWork The Most Overvalued Company in the World?

dwyl / product-roadmap

:globe_with_meridians: Because why wouldn't you make your company's product roadmap Public on GitHub?

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WeWork The Most Overvalued Company in the World? #10

Closed nelsonic closed 5 years ago

nelsonic commented 5 years ago

https://youtu.be/DwAyUV6hTf8 @iteles it's worth watching this video to understand why there is "buzz" about "We" ... 📺

nelsonic commented 5 years ago

Not strictly relevant to our "Product Roadmap" so closing.

Further reading for anyone interested:

IPO https://news.ycombinator.com/item?id=19781549
Financial Reality: https://news.ycombinator.com/item?id=18855680 (insightful comments on how the "coworking" in WeWork is only "co" in name...) The post describes how:

“Going forward, the company will no longer be called WeWork but rather The We Company.”
And: “Rather than just renting desks, the company aims to encompass all aspects of people’s lives, in both physical and digital worlds” ... 🙄

nelsonic commented 4 years ago

https://www.profgalloway.com/wewtf-part-deux
https://www.theverge.com/2019/9/24/20882491/wework-adam-neumann-softbank-ceo discussing firing 40 percent of the workforce; 5,000 employees
https://www.theverge.com/2019/11/6/20951946/softbank-masayoshi-son-admits-wework-was-bad-judgement-q2-2019 "My judgement in investment was not right in many ways,” Son said Despite owning 80 percent of the company, SoftBank doesn’t have full control of WeWork. ... 🙄

iteles commented 4 years ago

Super interesting!

nelsonic commented 4 years ago

Yeah, it’s mind blowing that Neumann gets to keep all the money he swindled from investors. I don’t know who is to “blame” ... I feel it’s the “entrepreneur” who oversold the value of the company and tried to convince people it is/was a “tech” company. But Masayoshi Son is not stupid, he’s just overly-optimistic. Prof Galloway suggests that Son (and all the investment bankers) knew very well that it was over-valued and were just hoping to dump the stock on “retail” investors. 🙃

If when WeWork implodes I bet IWG (Regus) will snap up their assets for peanuts and assimilate their best locations while dumping the rest.

Either way, I agree, it’s interesting. 🌧

nelsonic commented 4 years ago

Bloomberg just published this: https://youtu.be/X2LwIiKhczo

nelsonic commented 10 months ago

https://www.bloomberg.com/news/articles/2023-08-08/wework-raises-substantial-doubt-about-staying-in-business#xj4y7vzkg

https://www.google.com/search?q=wework+share+price

A 97.86% decline means for every $10 "invested" (speculated) in WeWork at IPO is now worth $0.21. 📉 Whoever rode that rollercoaster is firing their "investment" manager ... 🔥 I'm not the kind of person to place bets on the misfortune of others, 👎 but if I was, a "short sell" on these shares would have made me an absolute fortune! 💰

Meanwhile Neumann still gets away with it. 🤦‍♂️