Guy who “would convince employees to take shots of pricey Don Julio tequila, work 20-hour days [and] attend 2am meetings” wants to own WeWork again
Guy who “would convince employees to take shots of pricey Don Julio tequila, work 20-hour days [and] attend 2am meetings” wants to own WeWork again
Former CEO of shared office space rental company has reportedly been in talks with investors
The irony of the whole thing is that with the mass availablity of cheap commercial office space for the next couple of years, Wework itself might actually have a viable business model. After all, it generally functioned best in a recession or when leases were cheap. I'd guess that's what Neumann is hoping for, although I suspect he'd have trouble getting investment if the company got in trouble in future.
there is so much money in VC and it's so fucking dumb that I am reluctant to bet against a talker like Neumann on such trivial grounds as "your idea is bloody stupid" - Softbank considered that a feature, after all.
Yeah, in an era of "hybrid" work having a lot of short-term workplaces all over the place makes a ton of sense.
Yep, and smaller companies could have more flexible spaces that could adjust to the need of the company. We work is a middle man, but the business model does sorta make sense when rent is very cheap (admittedly with probably pretty slim margins). That being said, I'd be especially hesitant to invest in anything with Neumann's name attached to it, so wouldn't expect a huge resurgence or anything.
WITH THEIR OWN MONEY
it's hard to say that Softbank didn't ask for it of course
don julio is a pretty mid-range but tasty tequila no? I guess they might have reserves.
He and his wife are freakshows.
What happened the last time he owned it?
I'd summarize it as joyriding but with skyscrapers.