Re:John Carmack Leaves Meta
by hnlmorg on Saturday December 17, 2022 @01:31AM
(#34025403)
WeWork is still going strong in London. Lots of offices and all of which are full.
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A full office only tells you about the revenue side of the business. Many businesses are popular with customers but go bankrupt
Yeah, but I’m sure most of those businesses would have done their due diligence on WeWorks financials before moving in.
Changing offices is an expensive exercise so they wouldn’t want to risk renting space from somewhere that is likely to go under in the next year or two.
The whole point of wework from a customer perspective is that you don’t have to commit to long 10-year leases. So wework leases long-term and the customers short-term. If the customers dry up wework still needs to pay their commitments.
Where did I say 10 year leases? I specifically said 1 to 2 years knowing exactly how WeWork operates.
Nowhere did you say.
My point is the dynamic I mention explains the problems of wework, and is not proved wrong by the argument you put forward, paraphrased, that "businesses have evaluated long-term risk of renting at wework so wework is not at risk"
Your second attempt of paraphrasing my comment is still way off the mark.
It wasn’t a long comment, so maybe you should take it at face value rather than trying to change it to suit your argument.