It's been floated they can get margins instantly by pulling back on variable cost ameneties like beer, kombucha, operations staff, etc.
That said, having been one of their tennants in SF, the price still feels high.
The facilities are really nice, but it's A LOT of cash flow for most startups.
The clinentell that seem OK with the price tend to be large corporations conducing top-of-cycle innovation theater with small offices doing "INNOVATION"
And service agencies; PR, Marketing, etc.
There are relatively few low capital, expoential growth companies I have found.
Very few people griding out code past say 6pm most days.
Most folks are living a lifestyle outside of WeWork's walls. The Transbay facility at 535 Mission is completely empty Saturday and Sunday.
It's a lot of innovation & tec tourists. Folks here for top of cycle vibes, but without the cred of having built something that will last.
People who want to build lasting companies GTF away from WeWork.
Do you mind telling me what you picture when describing "something that lasts"? The typical HN-featured SaaS isn't for one (with all of them offering a product easily replaced except for vendor lock-in and the big-data aspects) neither are the funky Teslas (with the eMMC dying faster than all the other cars going into planned obsolescence...)
I think it's saying that Nori Gerardo Lietz's analysis paper was unpublished.
The conversion price of the convertible debt is the only that the wasn't disclosed in teh S-1. It says it did convert to a G-1 prefered stock, but it's unclear what the value of those shares are.
In July 2018, we entered into an agreement for the issuance of a convertible note with SoftBank Group Corp. for a commitment in an aggregate amount of $1.0 billion (as amended in January 2019, the “2018 convertible note”). On August 31, 2018, we drew down on the full $1.0 billion commitment. On July 15, 2019, the 2018 convertible note was converted into 9,090,909 shares of Series G-1 preferred stock."
We will have to leave the glass walls and wood floors, but the other stuff should be movable and liquidated to help We's balance sheet.
"FF&E are movable furniture, fixtures, or other equipment that have no permanent connection to the structure of a building or utilities. These items depreciate substantially but definitely are important costs to consider when valuing a company, especially in liquidation."
Not enough people contribute to OSS because of fear of taking the first step. This is a nice nudge towards getting used to the workflow and demystifying how the experience should go.
Also a clever use of a bot to teach coding. Very meta.
I'd say you're right. I've been coding for about 6 years and only submitted my first PR on GitHub earlier this year. It was pretty confusing and I think I did some things wrong. I've been using git for about 5 years but there's a whole culture thing around OSS on GitHub I didn't (don't?) understand.
Sometimes maintainers haven't taken my bug reports seriously because I still use the default avatar. Apparently that's important.
When I made bug reports explaining the exact issue, the maintainers would ask me for a PR. I felt this was strange because instead of them changing one line of code the next time they were working on the project they were asking me to clone the project, go hunting for the appropriate code to change and worry about any adverse effects from that change. All those things would be a non-issue for someone familiar with the code of the project. I'm talking about very straightforward issues here. Sometimes they would even ask me for a PR to fix a typo in documentation, which is just ridiculous for going through all the above steps when they could just type one letter the next time they were developing on the project. I have since learned that there is a culture of people wanting to build up their contribution rep, or something, so the maintainers were actually just offering the PR as an opportunity.
There have been other things that I can't think of right now.
https://www.linkedin.com/in/maxazzarello/details/experience/