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
Did you guess 50? No? If you didn’t you should read this: A Study of 2.7 Million Startups Found the Ideal Age to Start a Business (and It’s Much Older Than You Think) | Inc.com
And in general terms, a 50-year-old entrepreneur is almost twice as likely to start an extremely successful company as a 30-year-old. (Or, for that matter, a successful side hustle.)
It’s never too late to pursue that business dream.
Should you become an entrepreneur if you are older? If you are an entrepreneur, should you hire older workers despite worrying they won’t be a good fit? This piece, Don’t Let Your ‘Senior Citizen’ Status Kill Your Entrepreneurial Spirit, makes the case that the answer to both questions is yes. Well worth reading if you have been asking yourself these questions.
And why is Colonel Sanders shown here? The article will explain.
(Image linked to is on Wikimedia)
This piece may be the stupidest defence of Amazon’s workplace practices: Replace Just 2 Words in the New York Times Amazon Article and Something Amazing Happens | Inc.com.
Amazon employees are not entrepreneurs. There is nothing in the NYTimes.com article that gives any inkling that they are. If anything, they have all the downside of being an entrepreneurs with little if any of the upside. If someone can point out an article showing how Amazon consistently rewards employees as if they are true entrepreneurs, I’d love to read it.
There’s nothing wrong with being an entrepreneur. In fact, for some people, being an entrepreneur is the best type of work there is. Everything about it appeals to them, and working for a large corporation would kill them.
The Amazon employees are not entrepreneurs. If you want to be an entrepreneur, be one. Don’t try to be one working at a large corporation. That is antithetical to what being an entrepreneur is.