[roymurdock]

investors don't really care what "tech" truly means in the classical sense (using/selling computers or apps as a central part of the business). investors care about what kind of return they can expect from a certain class of company. "Tech" has come to mean a company with high revenue/user growth, low marginal cost of production, big moats, not necessarily profitable, but on track to IPO and with large institutional/public demand for investment.

WeWork is obviously not a tech company like Microsoft or Apple are tech companies and nobody is arguing or should really even care about that, investors surely don't. But it also fails to check some of the boxes of new class of "tech" companies and that is being reflected in the current valuation battle. or maybe the underwrites just really overshot the mark after SoftBank pressured them with its own high valuation estimate.