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Blackmist ,

Genuinely not sure what the business model was here, or how it attracted so many investors.

“So we get a bunch of office space, right? And then we rent it out not to companies, but to individuals, who then get all the downsides of working in a distracting room full of noisy bastards, while not actually interacting with any of the people they’re supposed to be working with.”

“I’m in! How much do you need?”

Tire ,

You just described how regular office jobs are 😆

jacktherippah ,

WeFailedToWork

wabafee ,

We oink

fne8w2ah ,

Haven’t they been circling the drain for some time now?

LinusOnLemmyWld ,

WeNeedWork

MargotRobbie ,
@MargotRobbie@lemmy.world avatar

Uber and AirBnB next.

I still don’t quite understand why a “taxi” and a “hotel” company are considered tech companies.

some_designer_dude ,

Because they both disrupted their respective markets with little more than an app.

phoneymouse , (edited )

I don’t quite understand how MargotRobbie is on Lemmy moderating an android community.

MargotRobbie ,
@MargotRobbie@lemmy.world avatar

Because I have way too much free time now that I’m on strike, and it’s also really funny.

phoneymouse ,

squints Not sure whether to be star struck or suspicious. If it’s really you, I hope you get the word out about Lemmy IRL, so we can grow this place. Can’t think of a better Lemmy spokesperson than Barbie.

phoneymouse ,

How does MargotRobbie know so much about Visual Studio, C#, and Python?

lemm.ee/comment/5424323

Nothing in her bio implies a background in programming.

uriel238 ,
@uriel238@lemmy.blahaj.zone avatar

Learned it during her Quinn years?

Blackmist ,

The tech bit just seems to be the ability to slurp money out of other people’s industries, while avoiding all regulation and responsibility.

You can stick the food delivery people with them.

Sibbo ,

WeDontWorkAnymore

pastermil ,

They’re still here???

ThrowawayPermanente ,

Good, fuck this guy

nonailsleft ,

‘this guy’ is already out. Made billions

ThrowawayPermanente ,

Well shit

DirigibleProtein ,

Oh no! Anyway…

Steve ,

Is it just me, or is this the wrong community for this. WeWork isn’t a tech company or product.

netburnr ,
@netburnr@lemmy.world avatar

Lots of small and large tech companies leveraged these spaces.

Sir_Kevin ,
@Sir_Kevin@lemmy.dbzer0.com avatar

This community seems to have become a catch-all for whatever.

Steve ,

It does seem that way.

steeznson ,

I used to work for a tech company that rented a corner office in a WeWork

JDPoZ ,
@JDPoZ@lemmy.world avatar

Random, I know, but there’s actually a weirdly perfect jab at this in the new Fincher movie “The Killer.”

One of the protagonist’s sniper nest positions is literally in an old “WeWork” office that has basically become abandoned / derelict. Fincher made sure to have the logo visible on a door in an establishing shot.

kakes ,

They make the same joke in the Corner Gas animated series iirc.

darth_helmet ,

Holy shit, they’re still making corner gas? Also, a sniper plotline seems pretty dark for that show

kakes ,

Not any more, unfortunately, but they did create 4 seasons of an animated series that only ended recently.

While I don’t think there was a sniper plot specifically, the animated series does get a lot more “risque” than the live action show (at least, relatively speaking). I honestly recommend checking it out of you liked the original.

steeznson ,

WeWork would have paid for that placement. No brand would get through the studio and editing without ponying up.

IWantToFuckSpez ,

WeWork was nothing but a scam to fleece money from investors. Only a fool would believe a real estate company is a tech company. And that fool is Masayoshi Son.

Kbin_space_program ,

The free wine and kombucha they had on tap was nice though.

residentmarchant ,

One regret of mine was avoiding WeWorks while they were hyped up on VC money because I thought it was a stupid idea. Turns out I should have just drank the free beer and let them implode on their own

wjrii ,
@wjrii@kbin.social avatar

WeWork: It's not a real estate company, it's a tech company!

Theranos: It's not a healthcare company, it's a tech company!

Juul: It's not a vape company, it's a tech company! (though oddly enough, they would have also accepted, "It's not a vape company, it's a healthcare company!)

FTX: It's not a pyramid scheme financial company, it's a tech company!

uriel238 ,
@uriel238@lemmy.blahaj.zone avatar

What is sad is how we had to establish human rights on a computer in the 1990s, and then establish them again on the internet in the 2010s and now on a smartphone

Because with each iteration our legal system sides with overreaching law enforcement whenever it’s a new state of technology.

Hypx ,
@Hypx@kbin.social avatar

There will come a day when people will realize that even tech companies aren't worth that much.

Thorry84 ,

Older folk who went through the dotcom bubble burst should know, but they don’t somehow. Oh well a third once in a lifetime market crash in 20 years would just be icing on the molten icecaps cake

Chocrates ,

I work in tech and I know it, Wall Street still doesn’t I guess. Just look at how much they think our LLM’s masquerading as AI are worth.

ours ,

What? Not a tech company? But the CEO is hip, young and wears casual clothing! He’s obviously a tech genius /s

Destraight ,

Why do you want to fuck spez?

HurlingDurling ,

So… most people are not into paying expensive dues to use a desk? Who knew.

Kbin_space_program ,

shared table or restaurant booth.

Only got a personal desk if you nabbed a phone booth or you had a company that paid even more for a room w/desks.

HurlingDurling ,

You mean those things that restaurants and coffee shops have… for free?

nutsack ,

I use a co-working space every day. It’s normal

Nighed ,

Any idea if this is a proper (shut down) bankruptcy, or a get cheaper leases bankruptcy?

Pons_Aelius ,

Based on the debts and lack of revenue they have. My guess it will be chapter 7 (wind up and liquidation) and not 11 (debt restructure).

breadsmasher ,
@breadsmasher@lemmy.world avatar

so you didn’t read the article

wmassingham ,

It’s in the article:

New York-based WeWork is considering filing a Chapter 11 petition in New Jersey

Nighed ,

And that’s the restructuring one? Does that let them escape or decrease their leases?

(Not familiar with American bankruptcy laws(…or any bankruptcy laws))

_haha_oh_wow_ ,
@_haha_oh_wow_@sh.itjust.works avatar

This is the restructuring one.

www.uscourts.gov/…/chapter-11-bankruptcy-basics

wjrii ,
@wjrii@kbin.social avatar

Yup, 11 is the restructuring one. Very little will happen automatically, but they will try to renegotiate their leases. In a world where big companies are adjusting to WFH being a norm, though no longer the the norm, this has the feeling of pissing on a house fire. When their Chapter 11 restructuring fails, that's when they'll file for Chapter 7 (liquidation)

tsonfeir ,
@tsonfeir@lemm.ee avatar

It’s a “we paid our execs all our cash” bankruptcy

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