[shosko]

I think WeWork is still a bit ahead of its time. Some see its value as culture, others see it as real estate. The ways we live and work are changing, but changing any culture takes time. I still feel that We Work is creating the future, but that value is still based on change that's inherently slower than we'd like.

[spookthesunset]

So forced summer camp, vegan diets, nepotism and all the other weird stuff they put their employees through is just them being ahead of the times?

[mises]

> Some see its value as culture, others see it as real estate.

Can you point me to more information on the "culture" point of view? I have trouble seeing what kind of culture we work has, let alone how a culture can be monetized. But what's special about its "culture", any way? Real estate is at least valuable; for a while, I wondered if it would turn into the world's weirdest REIT. What future is it creating?

[michaelt]

According to their S-1 [1]

We are a community company committed to maximum global impact. Our mission is to elevate the world’s consciousness. We have built a worldwide platform that supports growth, shared experiences and true success.

[...]

We start by looking at space differently: as a place to bring people together, build community and enhance productivity. Philosophically, we believe in bringing comfort and happiness to the workplace

[...]

Nine years ago, we had a mission to create a world where people work to make a life, not just a living. We believed that if we created a community that helped people live life with purpose, we could have a meaningful impact on the world.

[...]

Each of our spaces is designed to make our members feel welcome and at home, and to encourage a sense of belonging. We believe that individuals are more productive when they are able to express their full and authentic selves, so we aspire to be as inclusive as possible.

As a grumpy cynic personally I don't really go for that stuff, but they've put it in the prospectus so presumably they think other people do.

[1] https://www.sec.gov/Archives/edgar/data/1533523/000119312519...

[mises]

That sounds more like a continuation of the trend toward turning prospectuses into marketing materials. "Looking" and "believing" don't translate into concrete action. All this is marketing-speak, and I don't think any of it contributes real value.

[michaelt]

You might very well think that, and it sounds like you won't be investing. But presumably people who believe "culture" is what makes WeWork a good investment are used to investing in intangible things.

[Androider]

Don't go confusing the kool-aid drinking employees of WeWork with the people investing in WeWork. The 80% haircut on the IPO pricing (to date) is the institutional investor's saying "no thanks" to exactly that type of feel-good BS being spouted in the S1.

[mises]

Maybe I'd understand better if some one could define what this mythical "culture" is. The closest any one has gotten is copy-pasting marketing stuff from a prospectus.

[delfinom]

SEC needs to seriously clamp down on S1 report content.

[prewett]

"Our mission is to elevate the world's consciousness."

What does that even mean? I would think that serious investors would want a more ... concrete mission. This sounds like they want to be a yogi. Or they are BSing.

[delfinom]

Have you tried working in a "coworking space"? Because its just as shitty and distracting as "open offices".

[dpflan]

Could you provide more details? Has the culture been dictated and led primarily by its CEO? I assume that culture is guided by behavior mainly from the top down.

What is the future you see?