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Comment by DebtDeflation | Hacker News Reader

I'm guessing the "Non-Executive Chairman" position will just be a temporary one until they can come to agreement on how much money they need to pay him to go away.

Professor Galloway called this the other day. His next prediction is that We will sell off all the bullshit vanity projects like WeLive and WeGrow along with the other nonsense Adam bought (like the wave pool company so he can practice surfing at work). Then they will fire all non-core employees. The clock is ticking if they want to save this company.

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I don't think they will shut down WeLive. The entire premise of WeWork, and WeLive, is that they can sell you more than real estate -- they can sell you a "tribe." There are so many reports in recent years about growing social isolation and loneliness, that if something can be successfully packaged into a simulacrum of a community, it will be a hot item indeed. That's the only way WeWork can justify its stratospheric investments, and it is the market they will aim to dominate.

I'm sorry, but while there is some logic to the co-working idea, I don't see any serious demand for co-living. Quite frankly, I find the idea of having on-premise yoga instruction, cafes, bars, shared hot tubs, shared kitchens, etc. so you never have to leave your apartment building (except, presumably, to go to WeWork) to be absurd.

I'm certainly not interested, but it sounds like an extension of dorm living, with better amenities; sort of like senior living, for young people. Without knowing the details, sounds like it would appeal to some; although cost is going to be an issue.

I would have gladly lived in such a place from age 22 to ~28.

This is a successful sector of real estate leasing in NYC amongst well-paid, 20-somethings. It's definitely not absurd (as far as the market thinks).

Then Korea[0] is not for you.

[0] https://en.wikipedia.org/wiki/Officetel

I personally see value in it and could even see myself as a customer, at least to try it for 6-12 months and see what it's like. Sounds like a good way to meet other young people with a bent towards tech

That said, I don't know the details of the program so can't speak to its practicality in this instance. But considering it's wework, there's opportunity for a good vertical there. At its face it seems like sound corporate strategy

Living in a company town earning company scrip to spend in the company store is an old business model and one that had never, ever gone well for the resident-workers. There’s even a word for it: serfdom.

Except you’re not employed by them, you’re just renting office space and potentially living space from them. You don’t have to do it if you don’t want to; I am interested in it for the social aspect of it and the 0 commute

It sounds like it would be pretty awesome in the winter

My guess is that they will restructure the whole thing to leave Neumann in charge of and owning some sort of parent WeGroup, which holds all the random stuff and can continue to aim for raising the level of global consciousness or whatever, with the actual office leasing business, WeWork, being a subsidiary, with a single share class, a professional CEO, and a much more sensible story. Floating the WeWork subsidiary (at a valuation much less than the SoftBank highs) will let the parent company raise cash, which Neumann can then spend on cosmic alignment etc.

This is the bull case for We that justifies a stratospheric valuation: it is the extranational life infra and connection market maker for the otherwise hyperalienated worker of tomorrow -- where corporations have surpassed "legacy" social and political units of organization and identity.

Where the valuation came down to earth was when public investors evaluated We as an incrementally better office rental company, and didn't buy the idea of We as creating and monetizing a religion.

“Tribe as product” already exists, most successfully in professional sports teams: “I am a die hard Eagles fan.”

Is this true or an exaggeration? I couldn't find anything on it.

https://www.profgalloway.com/wewtf-part-deux

It was published on Friday and so far he is knocking it out of the park with these predictions.

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