like to me arbitrage implies you don't have to do anything in between buying and selling
― flopson, Friday, 13 September 2019 05:47 (four years ago) link
Sure. Thatβs fair but saying that the guy selling umbrellas on the street corner is doing arbitrage sounds a little funny.
― o. nate, Friday, 13 September 2019 12:47 (four years ago) link
https://images-na.ssl-images-amazon.com/images/I/61QPyraFfHL._SX258_BO1,204,203,200_.jpg
― mookieproof, Friday, 13 September 2019 13:17 (four years ago) link
When I brought up REITs above it was to address the post "Um, since real estate cannot be bought in a market in one place, then sold in another market elsewhere where the valuation is different, that phrase makes no sense." In this example you can go from public to private market valuations for the underlying real estate. But maybe that post was specific to wework and not real estate in general?
― Yerac, Friday, 13 September 2019 13:54 (four years ago) link
"negative arbitrage" was just a joking reference to the fact that they sublet real estate unprofitably.
― longtime caller, first time listener (man alive), Friday, 13 September 2019 14:21 (four years ago) link
This is hilarious
Oh my https://t.co/9rENkZOQp3— Eliot Brown (@eliotwb) September 13, 2019
― π ππ’π¨ (caek), Friday, 13 September 2019 14:31 (four years ago) link
man alive, I thought your explanation was clear/concise.
― Yerac, Friday, 13 September 2019 14:33 (four years ago) link
In case itβs not clear
reminder that wework has raised over $10 billion of equity!— Eliot Brown (@eliotwb) September 13, 2019
― π ππ’π¨ (caek), Friday, 13 September 2019 14:34 (four years ago) link
House of Saud gonna take a bath on this one
― president of deluded fruitcakes anonymous (silby), Friday, 13 September 2019 14:40 (four years ago) link
it's a $SNAP
― Mitch C. Palace (Sufjan Grafton), Friday, 13 September 2019 16:21 (four years ago) link
β flopson, Friday, September 13, 2019 1:47 AM (yesterday) bookmarkflaglink
β o. nate, Friday, September 13, 2019 8:47 AM (yesterday) bookmarkflaglink
umbrella on the street corner in the rain is different from umbrella in cvs six blocks away though
― flopson, Saturday, 14 September 2019 20:09 (four years ago) link
rip
WeWork postponing IPO until at least October. Scoop from @maureenmfarrell https://t.co/OVdYVDz8Ot— Eliot Brown (@eliotwb) September 16, 2019
― π ππ’π¨ (caek), Monday, 16 September 2019 22:07 (four years ago) link
dude looks like an acid casualty
― president of deluded fruitcakes anonymous (silby), Monday, 16 September 2019 22:08 (four years ago) link
NB I don't know what an acid casualty looks like that's just the phrase that came to mind
Iβm kind of buying into the idea that SoftBank (begins WeWork, etc.) could be the epicenter of the next recession/collapse.
― ... (Eazy), Monday, 16 September 2019 22:23 (four years ago) link
me too. i was skeptical but then i learned the softbank money is like 50% saudia arabian and the whole situation there _also_ seems like it might be a financial contagion.
― π ππ’π¨ (caek), Monday, 16 September 2019 22:34 (four years ago) link
Thatβd be more like world economy into the shitbin, no?
― El Tomboto, Monday, 16 September 2019 22:41 (four years ago) link
That main guy for WeWork is such a cartoon version of a tech ceo. He seems a pretty precious choad.
― earlnash, Tuesday, 17 September 2019 00:21 (four years ago) link
https://amp.businessinsider.com/images/5cdc09f1021b4c7124165cd3-1536-1152.jpg
― earlnash, Tuesday, 17 September 2019 00:24 (four years ago) link
WeWork more like WeDon'tWork
― wario in the streets, waluigi in the sheets (m bison), Tuesday, 17 September 2019 00:26 (four years ago) link
Neon slogans on WeWork office walls implore you to βHustle Harderβ and βGet S#!t Done.β
https://www.bloomberg.com/news/features/2019-05-15/wework-wants-to-be-its-own-landlord-it-also-wants-2-8-billion
― earlnash, Tuesday, 17 September 2019 00:27 (four years ago) link
WeSuck
It's as though Adam Neuman said to himself "Let's do an experiment as see just how far we can take the unicorn scam" and the market responded "One step less far than you just went, that's how far"
― longtime caller, first time listener (man alive), Tuesday, 17 September 2019 02:40 (four years ago) link
Meanwhile, unrelated but I guess sort of related, I was walking up second ave yesterday in an area I used to walk around a lot when I worked there a couple years ago, and there are a shit ton of empty and closed down stores, bars, restaurants now. Can't help but feel like that's a bellwether of something.
― longtime caller, first time listener (man alive), Tuesday, 17 September 2019 02:42 (four years ago) link
I hate that there are so many vacant storefronts on Columbus Ave and on Polk St in SF. I don't understand it fully but guess it has to do with the leverage necessary to buy these buildings and the rents required to keep the asset value up - and the owners' bank loans afloat
I think the owners should be fined for keeping storefronts vacant beyond a reasonable amount of time, though
― Dan S, Tuesday, 17 September 2019 03:15 (four years ago) link
we need a version of Vancouver's vacancy tax for commercial properties:
https://news.bloombergtax.com/daily-tax-report-state/u-s-cities-look-to-vancouvers-novel-empty-homes-tax
― sleeve, Tuesday, 17 September 2019 03:18 (four years ago) link
yes
― Dan S, Tuesday, 17 September 2019 03:42 (four years ago) link
the name softbank tells me all i need to know. yβall soft
― alomar lines, Tuesday, 17 September 2019 03:48 (four years ago) link
lol
― president of deluded fruitcakes anonymous (silby), Tuesday, 17 September 2019 03:52 (four years ago) link
vacancy tax didn't do shit
― flopson, Tuesday, 17 September 2019 07:21 (four years ago) link
It would be nice if all vacant commercial properties were subsidized down to a rent control level and allowed non-chain pop ups on a short term basis.
― Yerac, Tuesday, 17 September 2019 11:58 (four years ago) link
whoops minus the subsidy for landlords who keep their storefronts empty on purpose.
― Yerac, Tuesday, 17 September 2019 12:00 (four years ago) link
xxp flopson is that because it got watered down? or was it not enough to begin with?
― sleeve, Tuesday, 17 September 2019 14:07 (four years ago) link
Things WeWork's Adam Neumann has said to others -he was interested in becoming Israel's PM-he was interested in becoming president of the world-he wants to be world's first trillionaire -he hopes to live forever https://t.co/DjjF8xt2sn— Eliot Brown (@eliotwb) September 18, 2019
― π ππ’π¨ (caek), Wednesday, 18 September 2019 16:52 (four years ago) link
I'd take him over Bibi certainly
― president of deluded fruitcakes anonymous (silby), Wednesday, 18 September 2019 16:53 (four years ago) link
Working out of his Tribeca apartment, he started Krawlers, which sought to make baby clothes with knee pads to make crawling more comfortable.
― president of deluded fruitcakes anonymous (silby), Wednesday, 18 September 2019 17:00 (four years ago) link
VC investors are the dumbest most credulous motherfuckers on the planet earth and I hope they all get leprosy
― president of deluded fruitcakes anonymous (silby), Wednesday, 18 September 2019 17:06 (four years ago) link
as discussed above, not necessarily credulous, just thinking they can find a bigger fool. But this might turn out to be a situation where they can't.
― longtime caller, first time listener (man alive), Wednesday, 18 September 2019 17:25 (four years ago) link
the 2008 financial crisis left commercial real estate in a smoldering crater but I'm sure this idiot has a plan to avoid that happening at we work before the next recession hits
― officer sonny bonds, lytton pd (mayor jingleberries), Wednesday, 18 September 2019 17:39 (four years ago) link
I was trying to figure out when the GoPro CEO bought his $40m yacht and came across these sigh engulfing wiki facts.
To finance the business, Woodman borrowed $200,000 from his father (an investment banker in Silicon Valley), who still owned a 6.4% stake in May 2014.[17] Nick also borrowed $35,000 and a sewing machine from his mother, which he used to sew camera straps while experimenting with early designs.[18] Nick and his future wife Jill generated an additional $10,000 by selling shell necklaces they bought in Bali (for $1.90) from their car along the California coast (for $60).On June 26, 2014, GoPro went public β closing the day at $31.34 a share. In 2014, Woodman was the highest paid US chief executive, paying himself $235 million while GoPro earned profits of $128 million.
On June 26, 2014, GoPro went public β closing the day at $31.34 a share. In 2014, Woodman was the highest paid US chief executive, paying himself $235 million while GoPro earned profits of $128 million.
― Yerac, Wednesday, 18 September 2019 17:54 (four years ago) link
paying himself $235 million while GoPro earned profits of $128 million
Now there is a person who understands capitalism.
― A is for (Aimless), Wednesday, 18 September 2019 18:04 (four years ago) link
ATH GoPro stock closing price was 93.85 on October 07, 2014. It's ~$4.50 today.
― Yerac, Wednesday, 18 September 2019 18:07 (four years ago) link
I worked on an intellectual property case involving a start up and VCs and that whole world just seems like it entirely consists of hype filled powerpoint presentations and business dudes exchanging contacts and favors
― officer sonny bonds, lytton pd (mayor jingleberries), Wednesday, 18 September 2019 18:32 (four years ago) link
So is this the thread for this story?
https://www.wsj.com/articles/this-is-not-the-way-everybody-behaves-how-adam-neumanns-over-the-top-style-built-wework-11568823827
And this...anecdote?
After firing hundreds of staff, the WeWork CEO held a somber all-hands meeting explaining why it was a necessary move, but then trays of tequila were handed out and DMC from Run-DMC burst into the room and performed "It's Tricky" https://t.co/t9oGq8ebTb pic.twitter.com/cuq0aM1Tqi— Tom Gara (@tomgara) September 18, 2019
― Ned Raggett, Wednesday, 18 September 2019 18:41 (four years ago) link
oh cool it finally happened pic.twitter.com/cyLCjLcNAg— Ryan Broderick (@broderick) September 18, 2019
― mookieproof, Wednesday, 18 September 2019 18:47 (four years ago) link
https://boingboing.net/2019/09/18/wework-sounds-like-a-real-piec.html
― Greta Van Show Feets BB (milo z), Thursday, 19 September 2019 22:12 (four years ago) link
zerohedge i know but
https://www.zerohedge.com/markets/wework-business-model-systemic-risk-economy-feds-rosengren-warns
― π ππ’π¨ (caek), Friday, 20 September 2019 22:26 (four years ago) link
WeWork's largest investor, SoftBank, and others moving to oust Adam Neumann as CEO https://t.co/BiXN6Zwo19— Eliot Brown (@eliotwb) September 22, 2019
― π ππ’π¨ (caek), Sunday, 22 September 2019 17:07 (four years ago) link
lmao
― president of deluded fruitcakes anonymous (silby), Sunday, 22 September 2019 17:56 (four years ago) link
*NEUMANN EXPECTED TO STEP DOWN AS WE CEO: DJ— zerohedge (@zerohedge) September 24, 2019
― π ππ’π¨ (caek), Tuesday, 24 September 2019 17:06 (four years ago) link