dude, that's mean, considering it was pretty fertile agricultural land before
― sarahell, Friday, 20 September 2019 16:17 (four years ago) link
Okay, beat their Teslas into plowshares and set up the world's largest organic farm.
― Anne Hedonia (j.lu), Friday, 20 September 2019 19:24 (four years ago) link
so turn it into skywalker ranch?
― Tart Prepper (Sufjan Grafton), Friday, 20 September 2019 22:23 (four years ago) link
thx for the link, Tracer Hand
― A is for (Aimless), Friday, 20 September 2019 22:40 (four years ago) link
you're welcome!
― Li'l Brexit (Tracer Hand), Friday, 20 September 2019 22:55 (four years ago) link
Something only glancingly mentioned in the WSJ article is that one of the main things producing the record-scratch when people starting looking at the IPO was the news that WeWork were rebranding to "We", which Adam Neumann had come up with privately and then sold to the company for $6m.
Matt Levine (whose Money Stuff newsletters have been great on this) points out that theoretically this shouldn't be a problem for WeWork - if you're losing money because you're investing every penny that you have (and more) in buying new places and setting them up, and they'll start making money in six months, and then you'll plow that money (and more) into buying more places, then nervousness from investors is fine - you just stop buying new places and in six months you'll be deafened by the roar of all the money you're making, and the investors will be "Oh shit, I wish I'd invested in this six months ago". Of course, in theory you don't have an lunatic in charge.
One of the things that has, I think, happened since the WSJ article is that the corporate structure and super-share stuff has been reworked, so the total control that Neumann has will at least die with him, and there will be (some, limited) oversight. Which might be one of the signs of the end of the age of the 'unicorn', tech companies that have all of the mini-fiefdom aspects of privately held companies and all of the barrels of cash of public companies.
― Andrew Farrell, Monday, 23 September 2019 10:25 (four years ago) link
Actually here's a link to Levine's latest column - the story at the top about Overstock is nuts but far too long to quote here.
https://www.bloomberg.com/opinion/articles/2019-09-19/overstock-has-had-a-wild-week
― Andrew Farrell, Monday, 23 September 2019 10:33 (four years ago) link
Good to know there are people still living in Pynchon-esque worlds of their own creation
― untuned mass damper (mh), Monday, 23 September 2019 14:13 (four years ago) link
THE GOOGLE WORKERS AT HCL HAVE WON THEIR UNION!!! WELCOME TO THE UNITED STEELWORKERS!!!!!— lindsey disler (@lindseydisler) September 24, 2019
― mookieproof, Tuesday, 24 September 2019 18:44 (four years ago) link
Meanwhile...
Wow. Media measurement giant Comscore and its former CEO have been charged with fraud by the SEC. https://t.co/L4LoB1Q7yw— Alex Weprin (@alexweprin) September 24, 2019
― Ned Raggett, Tuesday, 24 September 2019 18:59 (four years ago) link
WeWork is shutting down ALL of their “honesty markets”—self-service snack kiosks—due to excessive theft, according to a WeWork staffer pic.twitter.com/6ciUwwprKp— Madeleine Varner (@tenuous) September 24, 2019
― j., Tuesday, 24 September 2019 21:17 (four years ago) link
Business Insider not pulling any punches: https://www.businessinsider.com/firing-adam-neumann-wont-solve-flaws-in-wework-business-model-2019-9?r=US&IR=T
― Andrew Farrell, Wednesday, 25 September 2019 10:50 (four years ago) link
excerpt from uncanny valley in the new yorker this week. i've heard great things about the book (out in a couple of months). this piece rang very true for me.
https://www.newyorker.com/magazine/2019/09/30/four-years-in-startups
― 𝔠𝔞𝔢𝔨 (caek), Saturday, 28 September 2019 18:10 (four years ago) link
Now that the IPO's off the table and all the big dogs who were set to rake in their share of the loot when WeWork went public have absorbed the idea that the WeWork money spigot is turned off, Business Insider is freed to produce a hard-hitting critical article that points out many adverse facts that have been known for a long time. /deepcynicism
― A is for (Aimless), Saturday, 28 September 2019 18:34 (four years ago) link
caek yeah it's a good piece. her abstraction of well-known players feels a little gimmicky at first but then really works to emphasize the surreal aspects of life inside the bubble.
― Larry Elleison (rogermexico.), Saturday, 28 September 2019 18:39 (four years ago) link
what's the company that Noah gets fired from? (in the article)
― Yerac, Saturday, 28 September 2019 18:52 (four years ago) link
Hey y'all, whatcha think about "subscription housing"/"housing subscription"?
https://hoodline.com/2019/09/new-church-market-building-to-become-part-of-short-term-housing-subscription-scheme
― Jersey Al (Albert R. Broccoli), Saturday, 28 September 2019 18:57 (four years ago) link
Ah, found it. Mixpanel.
― Yerac, Saturday, 28 September 2019 18:58 (four years ago) link
xp -Tech bros are working hard to make San Francisco the most boring possible dystopia.
― Greta Van Show Feets BB (milo z), Saturday, 28 September 2019 23:23 (four years ago) link
subscription housing, isn't that called a lease
― j., Sunday, 29 September 2019 00:21 (four years ago) link
Inventing extended stay hotels
― Greta Van Show Feets BB (milo z), Sunday, 29 September 2019 00:34 (four years ago) link
a box of housing delivered to your door monthly
― Squeaky Fromage (VegemiteGrrl), Sunday, 29 September 2019 04:23 (four years ago) link
get in the box!
― alomar lines, Sunday, 29 September 2019 04:24 (four years ago) link
https://mattstoller.substack.com/p/wework-and-counterfeit-capitalism
― sarahell, Tuesday, 1 October 2019 15:45 (four years ago) link
― Greta Van Show Feets BB (milo z), Saturday, September 28, 2019 5:34 PM (three days ago)
exactly -- and the thing is, (as the article mentions) the tenants have to stay at least 30 days or otherwise it is considered a "hotel" which has different zoning classifications and restrictions (and somewhat different building/fire codes) -- basically they are complying with the letter of the law and saying fuck you to the spirit of the law (which is equivalent to what the tech bros did in the late 90s vis a vis live/work housing, and now there is basically no new live/work housing in San Francisco).
― sarahell, Tuesday, 1 October 2019 15:51 (four years ago) link
I currently work out of a WeWork lol (the co. I am working for part time is, for now, based here)
― Simon H., Tuesday, 1 October 2019 16:01 (four years ago) link
did you take all the snacks?
― mh, Tuesday, 1 October 2019 16:02 (four years ago) link
lol at thinking people weren't going to take all the snacks and not pay for them
― sarahell, Tuesday, 1 October 2019 16:05 (four years ago) link
I got here right before they got rid of the free snacks, though there are still a few Perriers and La Croixs left
oh and also still free coffee, craft beer and cider on tap
― Simon H., Tuesday, 1 October 2019 16:06 (four years ago) link
what flavor(s)?
― sarahell, Tuesday, 1 October 2019 16:07 (four years ago) link
even the ex-ceo took the snacks hundreds of millions of dollars
― Tart Prepper (Sufjan Grafton), Tuesday, 1 October 2019 16:07 (four years ago) link
i was consulting at a ratings agency for the second time recently and noticed that they no longer had free vending machines. People used to annoyingly hoard the seltzer water in their desk which was annoying... but they had to start charging 25 cents because the CEO saw someone taking a duffle bag of cans home. My friend who is at a very, very well paying firm that has catered lunches was saying they recently stopped having fruit plates because people kept taking the entire platter to take home???
― Yerac, Tuesday, 1 October 2019 16:15 (four years ago) link
ps. the 25 charge caused soda restock orders for the firm to go down like 60%.
― Yerac, Tuesday, 1 October 2019 16:16 (four years ago) link
well yeah. who has quarters?
― president of deluded fruitcakes anonymous (silby), Tuesday, 1 October 2019 19:42 (four years ago) link
1. warm seltzer is gross2. a duffel of soda cans is heavy3. time spent waiting for your chip card to clear = more than a quarter
― El Tomboto, Tuesday, 1 October 2019 19:53 (four years ago) link
Though I dunno about anyone expecting anything else to happen with the catering trays at the end of the day. I’d be rolling up with fresh ziplocs in my bag every day just to mooch off that produce
― El Tomboto, Tuesday, 1 October 2019 19:54 (four years ago) link
My office has a lot of free snacks and I have definitely done the snacks-for-lunch thing numerous times, more because I don't feel like leaving the office for one of the mediocre options around here than to save money. The extra productivity they get on account of me staying at my desk me may even pay for the snacks.
― longtime caller, first time listener (man alive), Tuesday, 1 October 2019 20:02 (four years ago) link
No, they were taking all the fruit before lunch so no one else was able to have fruit. I got daily updates about this. Also ice machine.
― Yerac, Tuesday, 1 October 2019 20:08 (four years ago) link
it was happening very recently at a private equity firm owned by someone who also owns a sports team that rhymes with Retroit Winstons.
― Yerac, Tuesday, 1 October 2019 20:11 (four years ago) link
Yerac, why do you always end up working at places that seem vaguely Coen Bros / Mike Judge
― El Tomboto, Tuesday, 1 October 2019 20:12 (four years ago) link
It's because I am very bored and observant and live for this shit.
― Yerac, Tuesday, 1 October 2019 20:13 (four years ago) link
Fruit platter is such a weird thing to steal -- they go bad really fast and it's more fruit than a small family can eat in a day.
― longtime caller, first time listener (man alive), Tuesday, 1 October 2019 20:21 (four years ago) link
Freeze that shit for smoothies.
― Yerac, Tuesday, 1 October 2019 20:23 (four years ago) link
I have a former coworker who could definitely house an entire fruit platter during a meeting
― mh, Tuesday, 1 October 2019 20:29 (four years ago) link
I guess I should specify too that I probably used catered lunches wrong because the place has a kitchen staff that makes the lunch choices every day. And it was people in one particular department doing this.
― Yerac, Tuesday, 1 October 2019 20:32 (four years ago) link
cut fruit that's been sitting out for a while is a little bit gross to me also
― longtime caller, first time listener (man alive), Tuesday, 1 October 2019 20:38 (four years ago) link
If soylent wasn’t an option then you weren’t part of the topic of this thread btw
― El Tomboto, Tuesday, 1 October 2019 20:42 (four years ago) link
I have a tech coworker who appears to be drinking something called "huel" for lunch daily.
― mh, Tuesday, 1 October 2019 21:38 (four years ago) link
https://proxy.duckduckgo.com/iu/?u=https%3A%2F%2Fi.ytimg.com%2Fvi%2Fw6xoeVp8Wcw%2Fmaxresdefault.jpg&f=1&nofb=1
― Οὖτις, Tuesday, 1 October 2019 21:40 (four years ago) link
There's free sushi in the lobby today.
― Simon H., Tuesday, 1 October 2019 21:59 (four years ago) link