re: WeWork Cites ‘Substantial Doubt’ That It Can Stay in Business

I've had this idea but for cars

I'd call it "WeBaws"

Imagine having like a ten bay garage... pristinely clean.

Has all the tools and gadgets you need to work on your car. Mechanic like lifts. Big Halogen lights to see everything. Wrenches. Drills. Screwdrivers. Every bay comes with a fully stocked tool chest. Big arse fans blowing to keep everyone cool. A nice polished concrete floor. The actual upkeep on the space would be so minimal. It's just a clean garage.

You could have a little area that sells oil and transmission fluid and fuses and what not.

Maybe a little car wash and vacuum area around back.

Reserve your spot online for your bay, pay by the hour.

Major tools you wanted to use would be a mild hourly up charge. Maybe have an expert mechanic perusing around you could pay for his help and input when you're there.

Could come tool up your car, maybe you just want to change the oil, maybe you just want to put in a new downpipe, or put in some new springs, or just check on what that rattling is when you turn the steering wheel. Or reserve the entire day for a major overhaul project.

Maybe in places that would allow it sell some ice cold beer too.

I'm looking for a $2.2B initial valuation.

Thanks.

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AncientTiger

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Still owes me a Sonic meetup for WKHS

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I honestly want to know, who uses these places? In the era of many people working from home, why would you leave your home to go work in an office that's not even the office of your employer?

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Exactly. And when people want to get out they just go to coffee shops and work for free. I see the same people with laptops at several different coffee shops I frequent around town.

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WeWork convinced people they were tech when nobody cares if tech actually made money

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So they partied like it was 1999?

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I'd call it "WeBaws"

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I'm totally sold on the name. Would it come with a pirogue and maybe a F250 with the nose raised a bit higher than the back end?

Also I'd like to see an old Camaro hood upside down on the front lawn as a fire pit.

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Real estate company that does short term leases would be easy to value. A tech company that links “workers on the go” with “collaborative spaces” means overvaluation. Just like almost everything else there come out of that valley in the past 10 years.

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This pretty much nails it. They depicted themselves as a tech company when they were nothing of the sort. They were basically a loud subleasing company that offered really good leasing flexibility and good space for premium rates. That in itself is not revolutionary or controversial.

I think they do (or did until recently) still have a decent amount of office space that they own, but I’m sure they’re having to severely mark down those values in the current environment. They’re probably underwater on a lot of it.

My daughter used to work a remote job that she would occasionally have to give a presentation to a small group , like 3 or 4 people. Her company didn't want her to use coffee shops, etc, so she had a place in downtown Chicago where she rented a small conference room. She could go there and set up everything she needed and there was a receptionist who would show her clients in when they arrived.

So, it seems like in large cities there is a need for that kind of thing.

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So, it seems like in large cities there is a need for that kind of thing.

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There is a need, but you don't need one on every corner which is what they seemed like they were doing

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There is a need, but you don't need one on every corner which is what they seemed like they were doing

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Yep, got to the point where some lenders had significant exposure to them without actually lending them a dime. They were such a massive tenant across office buildings