In fairness it was Some job to paint WeWork as a tech company for so long.
Lease office space long term and then let it out to small companies short term.
Simple business model, except they seem to be letting the buildings for less than they are leasing them, or at least at nowhere near enough to make a profit so the more they grow the more money they lose 
Fit out with short term cash also.
Massively expansive to get these up and running. I use one in Dublin regularly and it is a brilliant well run modern facility with everything you could want in an office space.
But its pretty much empty most of time I have been there. You can rent a space for a group on rolling basis. My company has one for 16 people. Its v expensive. But if you can bring a tenant on board there is a big finders fee available. Stinks of desperation
The most disastrous attempted IPO ever?
Since eircom
Gpa was worse
Dessie Farrell made out like a bandit though
I dunno what age I was at the time but I remember the whole country going mad buying them. Anyone who had a spare few quid was buying the shares. If I remember rightly the people who sold almost immediately made a few quid?
They did. Lads who waited a little bit to make a bit more lost and then complained afterwards. Sure ‘‘tis always the way.
Bought them because every dog and divil was telling me to fill my boots with them. Including Shane Ross. Lost about half what I put in. Never bought another share. Cheap lesson.
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These lads are too broke to initiate lay offs. They have a few weeks worth of money left if Softbank doesn’t bail them out.
They’ll make a great movie out of it sometime. The $40bn company that never was
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How is WeWork even worth $8bn? They’re sitting on a pile of onerous leases and an app @Rocko could write. It’s mad.
The Saudi’s might be inviting the SoftBank CEO to the Turkish embassy for a chat soon.
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This fella in soft bank seems to have been seriously duped and is throwing good money after bad it would seem to cover his arse
He’ll have a suitcase covering his arse if he’s not careful.
gone in again, now hold 80% of stock 
In for a penny. Valuing the comapny @ $8bn, they were trying to float it for $40bn recently. I’d imagine it’s nowhere near worth that but if the bank valued it much lower they’d be making themselves look like right mugs.
The former CEO/Founder is getting away with nearly a billion as a payoff. Lucky he still has the arse in his trousers.
I’d say it’s worth closer to $0bn than the $8bn at moment. I wouldn’t like to be the fellas wading through the mess left behind by the sounds of things. They’ll do well to make a company worth the $8bn in a few years if they are lucky, never mind now. If there’s a recession and companies start trimming costs the short term leases in the fancy offices will be the first thing out the window, while they are left holding the long term leases.
At an $8bn valuation after this transaction Softbank will have invested more in the company than even they value it at
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A billion quid for blagging. Fcuk me.
Hopefully the SEC will relieve him of it.