The WeWork IPO is defined by audaciousness and excess, all of which is driven by unlimited access to capital.
My attempt last summer to justify WeWork’s $10 billion valuation is looking pretty good, but I’m not sure I can pull off the trick for $16 billion. Plus, the brilliant strategy of Facebook’s Open Compute Project
A bit of follow-up from yesterday’s post on WeWork, and a broader discussion about the ongoing bubble talk and the squeeze on VC. Then a discussion on Uber’s losses and why no one should be surprised, and finally the end of Microsoft’s consumer business.
WeWork has shocked almost everyone by raising money at a $10 billion valuation, just months after raising at $5 billion. How on earth does this make sense? The answer might be found by making comparisons between WeWork and three seemingly unrelated companies. In the end, though, absent real numbers we can only look at the investors.