Re:WeWork’s Adam Neumann Steps Down as CEO
by AgloeDreams on Tuesday September 24, 2019 @04:01PM
(#21064011)
I never felt it was so black and white as people make it which is part of WeWork's problem.
WeWork's long game and eventual income is Real Estate, but their short game, their bread and butter, their brand, and their marketing is and always has been services and transactions. They compete much closer to a Starbucks than a Real Estate company but it's like neither side quite got it. (esp considering the CEO was a scam artist abusing the Real Estate side of the business while misdirecting everyone towards services)
WeWork is (to most) a company whose focus was on people and atmosphere, and on service. I would argue that they are MUCH closer to a hospitality chain like Marriott than a Real Estate firm or a tech co.
WeWork's long game and eventual income is Real Estate, but their short game, their bread and butter, their brand, and their marketing is and always has been services and transactions. They compete much closer to a Starbucks than a Real Estate company but it's like neither side quite got it. (esp considering the CEO was a scam artist abusing the Real Estate side of the business while misdirecting everyone towards services)
WeWork is (to most) a company whose focus was on people and atmosphere, and on service. I would argue that they are MUCH closer to a hospitality chain like Marriott than a Real Estate firm or a tech co.