We Work IPO - Would you bother?

neris wrote: »

Just wondering if anyone has thoughts on We work as an investment or trade if their IPO ever goes ahead.

My own view is the company is touted as some sort of tech unicorn when in reality its only a sub letter of office space with huge losses and a dodgy top structure. The company doesnt own property so has no assets and there are other companies in the same business with a far better track record and less hype who dont claim to be operating in a different sector.

Exactly my thoughts.

How they are losing money is beyond me. Its a very simple business model.
They rent an office space and then sublet the desk space to workers.

If they cannot fill the office space (ie. make a loss) then they dont have a viable business.

I also think it is massively exposed in any sort of recession environment. Most of the people i know who use these spaces are contractors or work from home employees who just work from there occasionally as a means to get out of the house.

In a recession, using a shared office space like this will be a luxury and will likely be discarded.

Did you read the IPO filing? Smells like a pump and dump to me

No way no how, this company is a money pit, any kind of downturn will bankrupt them. This company isnt making money now and likely never ever will. Stay clear, very very clear.