WeWork
4 statements across 1 episodes · 0 bullish · 2 bearish · 1 people on the record · first statement Aug 23, 2022 by Benedict Evans · said 15 times in 1 episodes since 2022 · across every show →
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brought up most by Benedict Evans (15)
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2022 15 mentions in 1 episode
Everything said about WeWork, oldest first
Aug 23, 2022
Aug 23, 2022 negative
Evans: WeWork had no software story or network effect
“And the first thesis turned out to be true, more or less, that you could make a bigger TAM. The second thesis was not true at all. There was no software story. There was no network effect. It's a service office company. It's a real estate business.”
Aug 23, 2022 negative
Evans: WeWork failed to disclose core operational numbers in its IPO prospectus
“Which is, of course, what happened when we went out and IPO'd, and the real estate investors asked what the numbers were, and they didn't know what the numbers were. They weren't in the IPO perspectives because they just said it's a movement.”
Aug 23, 2022 neutral
Evans: Operational businesses like delivery and rentals require exact unit economics upfront
“Like, it's all about a very, very small narrow margin, and that's also the story for Amazon, and it's a story for grocery delivery, it's a story for all these one-hour grocery things, it's a story for restaurant delivery, it's a story for dark kitchens it's a …”