6 votes

WeWork's IPO calls into question what it means to be a tech company

Posted by spit-evil-olive-tips
Tags: wework, ipo, business, tech industry, author.rani molla, source.vox
https://www.vox.com/recode/2019/8/16/20805770/tech-company-meaning-2019-ipo-wework

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Title
If WeWork is a tech company, software is eating our brains
Published
Aug 16 2019
Word count
1817 words

2 comments

  1. JXM
    Link
    WeWork isn't a tech company. It's a massive scheme by the CEO to turn his millions of dollars in real estate holdings into even more millions of dollars by bilking investors. I honestly can't see...

    What does it even mean to be a tech company these days?

    WeWork isn't a tech company. It's a massive scheme by the CEO to turn his millions of dollars in real estate holdings into even more millions of dollars by bilking investors.

    I honestly can't see why any investor would put their money in this company that doesn't even try to hide the fact that it exists purely to make its CEO money.

    The company changed it name earlier this year and licensed the new company name from its CEO for $6 million.

    4 votes
  2. nic
    Link
    It's not a tech company according to it's founder, it's a spiritual experience. "No one is investing in a co-working company worth $20 billion. That doesn't exist," Neumann says. "Our valuation...

    It's not a tech company according to it's founder, it's a spiritual experience.

    "No one is investing in a co-working company worth $20 billion. That doesn't exist," Neumann says. "Our valuation and size today are much more based on our energy and spirituality than it is on a multiple of revenue."

    1 vote