This is a remarkable story of literally The World’s Fastest (Old) Man, via The New York Times.
It’s almost inconceivable someone in their 70s can be that fast, let alone setting records. Well worth reading for inspiration.
(Photo link: CreditKristian Thacker for The New York Times)
Stratechery is always great and this piece is no different: The WeWork IPO – Stratechery by Ben Thompson.
What makes it good is that rather than just slamming WeWork superficially, as many takes have, it delves into what could possibly justify why WeWork is a good investment.
My take is that if WeWork had a different executive, it could be a successful company. I think the comparison to AWS is somewhat valid, and in the gig economy with lots of short term work, it could become very successful. (It worked really well for a recent project I was on).
That said, I believe the executive team of WeWork will not be able to handle any drying up of capital or a recession of any length. Or investors will wake up and ask themselves why WeWork should be valued way more than IWG/Regus. Time will tell, of course.
One last thing: my understanding is that WeWork had to start from scratch in terms of buying up / leasing real estate, but AWS did not start from scratch and took advantage of existing capacity Amazon currently had.
(Image link to the original piece in the article reference)
August 20, 2019 in ideas, new!
Tagged AWS, business, entrepreneur, ideas, investment, realestate, startup, strategy, WeWork