Financial disclosures from Wework in support of its IPO reveal that the company loses almost $5,200/customer, and that it hemorrhaged $1.3B in the first half of 2019.
The company plans to lost $2.7b in 2019 overall. Its corporate mission is "to elevate the world's consciousness." They lose more money per customer than any other, even world-beating-loser Uber.
But what is staggering about WeWork, and what could turn off investors as a major stumbling block to profitability, is how much it loses per customer. It's 24 times the amount that ride-sharing giant Uber, another recent IPO, is on track to lose per active rider this year, and nearly 129 times what struggling meal delivery service Blue Apron losses per subscriber, and nearly 753 times the $6.90 per year that popular pet e-tailer Chewy.com lose a year per regular customer.
WeWork IPO filing shows it's losing nearly $5,200 per customer [
Thomas Piketty, the French economist behind 2014's game-changing Capital in the 21st Century, has a new book, Capital and Ideology (out in France now, coming in English in 2020), which uses the same long-run economic series that Capital 21C benefited from to understand the relationship between wealth and ideology. Central to Piketty's thesis: that it's […]
The real estate bubble is in trouble: London's luxury housing market has been in freefall for years, and New York's retail vacancy has been soaring, even as global super-luxe housing is also tanking.
Maria Farrell admits that comparing smartphones to abusive men (they try to keep you from friends and family, they make it hard to study or go to work, they constantly follow you and check up on you) might seem to trivialize domestic partner violence, but, as she points out, feminists have long been pointing out […]
On the one hand, nostalgia is “a corruption of the historical impulse,” according to William Gibson. On the other hand, “Super Mario Bros.” will never not be cool. Luckily, there’s a way to satisfy that retro gaming while still keeping an eye on the future: The GameShell Kit. This thing is simultaneously the last handheld […]
The field of data analytics can get intimidating, even for business professionals who constantly rely on it. But at its heart, its purpose is to simplify. To take mounds of information and distill their insights into a single clear picture. Currently, the go-to software for painting that picture is Tableau. And if you want to […]
If you’re in the market for a stable, durable camera fully suited for first-person video, there’s a good chance that you’re the adventurous type. So why settle on a familiar name like GoPro? The DJI Osmo Action 4K HDR Camera checks off all the same boxes on the action cam checklist as the GoPro 4K […]