WW isn't just renting office space; they're selling a dream that YOU, yes YOU, are the next Mark Zuckerberg. They're a byproduct of the extreme fetishization of entrepreneurship that has happened over the past decade.
And the effect? Just about every WeWork I've ever been in is exactly the same: full of wantrepreneurs with extreme delusions of grandeur. Only problem is that the talent, work ethic, and product vision don't match. Walk through one at 7:30, 8:00p, the same hours that you'd expect a hungry founder to be grinding it out and it's dead empty. Maybe it's because the free cucumber water is gone.
Or, to put it another, perhaps more callous way: WeWork is what happens when everyone listens to Gary Vaynerchuk. And all the while WeWork trades at an absurd multiple over just about every other realty holding company.
And the effect? Just about every WeWork I've ever been in is exactly the same: full of wantrepreneurs with extreme delusions of grandeur. Only problem is that the talent, work ethic, and product vision don't match. Walk through one at 7:30, 8:00p, the same hours that you'd expect a hungry founder to be grinding it out and it's dead empty. Maybe it's because the free cucumber water is gone.
Or, to put it another, perhaps more callous way: WeWork is what happens when everyone listens to Gary Vaynerchuk. And all the while WeWork trades at an absurd multiple over just about every other realty holding company.