Monday, September 23, 2019

Sharing office space


SoftBank's Masayoshi Son is in favor of removing WeWork's Adam Neumann as CEO, as the company's directors plan to meet this week to propose Neumann step down, CNBC reported. WeWork views Son's move against Neumann as an effort to prevent the company from going public, following a tumultuous week in which WeWork postponed its IPO roadshow. (CNBC)

My comment.
The business of WeWork is to share the use of working space, must like Uber share the use of vehicles. This is the right model, compared to renting of fixed business premises.

However, it seemed that WeWork is badly managed and has lost a lot of money. This is a similar outcome to Uber. It is the problem about taking and burning investors' money, which is the prevailing model in the technology startup.

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