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Tag: #WeWork

Unicorn, Shmoonicorn. Is It a Fantasy?

Unicorn, Shmoonicorn. Is It a Fantasy?

Image by Julieta Mascarella from Pixabay

If we noticed anything this week, it was that it may be time to rethink unicorns and hockey stick growth. We know what investors look for: TAM (Total Addressable Market) and it had better be big, as it’s all about ROI.

WeWork is planning their IPO, and after years of expansion and so-called hockey stick growth, the cracks are showing. Business Insider laid out The history of WeWork’s meteoric valuation rise — and fall, including “the coworking startup’s governance, real estate holdings, succession plan, employee retention, and questionable patent purchases have spooked potential investors. WeWork has amended its SEC filings twice already to address several of those concerns, but it might not be enough.

“According to a Reuters report, WeWork will target a $10 billion valuation for its IPO, drastically lower than the $47 billion valuation it last fetched in private markets. A $10 billion public valuation would be only slightly above the total amount of funding WeWork has taken in as a private company: about $8.39 billion since 2011, according to Pitchbook data.” Read More...

Social versus Real Life: Where’s the Balance?

Social versus Real Life: Where’s the Balance?

The reports are in. People are leaving Facebook, and/or spending less time on the platform. It seems that for all of Mark Zuckerberg’s claims that Facebook’s intention is to bring the world closer together, people may well be finding each other online, but it seems that they aren’t necessarily liking what they find.

Or that the online experience simply isn’t enough. Read More...

The Fine Line Between Culture and Cult

The Fine Line Between Culture and Cult

Erin Griffin recently wrote an excellent piece in The New York Times entitled Why Are Young People Pretending to Love Work? “Never once at the start of my workweek…have I paused, looked to the heavens and whispered: #ThankGodIt’sMonday,” writes Griffin. Yet that is the culture that’s being bred, most explicitly at WeWork (now the We Company), where “Neon signs demand they “Hustle harder,” and murals spread the gospel of T.G.I.M. Even the cucumbers in WeWork’s water coolers have an agenda. “Don’t stop when you’re tired…

“It’s not difficult to view hustle culture as a swindle. After all, convincing a generation of workers to beaver away is convenient for those at the top.” Read More...

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