The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 4 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
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.”
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.”
Evans: No one at WeWork was charged or convicted of wrongdoing
“There's a whole bunch of argument about how the company was run, how what the ethics were, what's known as a whole bunch of accusations. Nobody's actually been convicted or even charged with anything.”
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 …”