WeWork CEO makes millions leasing buildings to WeWork

Stockolio said:
Yea but those landlords didn't lose 1.2 Billion last year... This company is gonna get Enron'd like no other, read the income statements, it's a joke literally

You would swear Steven Spielberg is there head accountant, it's straight lunacy... Hopefully they become Public, and they say there aren't no such thing as a free lunch!
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“Community” isn’t a real financial metric?
 
nooby_mcnoob said:
My plan is to purchase a home near my kids' universities and have them rent it out to their buddies. They can keep whatever is made on top of mortgage + expenses.
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1. Homes by universities are priced for this already
2. Universities can eminent domain your home if they want to expand
3. You will be interfering with your kids friendships when those friends stop paying.
 
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newwurldmn said:
1. Homes by universities are priced for this already
2. Universities can eminent domain your home if they want to expand
3. You will be interfering with your kids friendships when those friends stop paying.
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I didn't mean actual buddies. I have no qualms kicking them out. The kids would learn a valuable lesson on how not to be taken advantage of. The kids would be the property managers with me as the Ultimate kickerouter.

Regarding pricing, of course you're right. It's more to teach them how to make their own money using money and the work involved. I guess I wasn't clear.

Re eminent domain, I've seen universities expand quite peacefully so that's probably way down on the list but good thing to think about nonetheless.
 
newwurldmn said:
1. Homes by universities are priced for this already
2. Universities can eminent domain your home if they want to expand
3. You will be interfering with your kids friendships when those friends stop paying.
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Eminent domain by a university are you sure? Where has this happened?
 
Stockolio said:
Yea but those landlords didn't lose 1.2 Billion last year... This company is gonna get Enron'd like no other, read the income statements, it's a joke literally

You would swear Steven Spielberg is there head accountant, it's straight lunacy... Hopefully they become Public, and they say there aren't no such thing as a free lunch!
More...


That's why I mentioned that the next economic recession will have people laughing at wanting to drop a $2000 a month to have a meeting in a cubicle
 
eastern_warrior said:
I had a meeting at a WeWork the other day. Not my cup of tea being pitched in a glass room with unrelated people, potential competitors and competing investors walking past (odd since I had to sign an NDA) but kudos to the all the young guns in the ripped jeans and t-shirts working throughout the office. The meeting finished and the guy making the pitch shook our hands and walked over to the beer tap to finish off his day. At least he didn't drink during the meeting.

Place was packed, people all over the place and to be fair if I was working for a startup, why not - you get the vibrancy of working in a larger office and perhaps recruiting or being recruited by your millennial "friends". I'd argue if we get a downturn, they may have more interest as you can consolidate into hot desks and smaller space.
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It's all millennials renting out this space thinking they are entrepreneurs and CEOs ....this scene will be non existent during the next crisis.
 
newwurldmn said:
I believe UPenn did it.
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Columbia did too. Well, more like NY State that has eminent domain powers - they
declared the land Columbia sought to purchase "Blighted" (which is usually done prior to seizing assets via ED). Next thing you know, majority of landowners in Columbia's target area have reached an agreement with the University. Interesting how that worked out.
 
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