Posted on 09/30/2019 9:23:40 AM PDT by NohSpinZone
We Co. had $2.5 billion of cash as of June 30. At its current rate of cash burn—about $700 million a quarter—it would run out of money some time after the first quarter of 2020, according to Chris Lane, an analyst at Sanford C. Bernstein & Co. He and his colleagues projected in a recent note to clients that We would burn through nearly $10 billion in cash between 2019 and 2022, assuming it keeps growing.
(Excerpt) Read more at wsj.com ...
I believe they have 5000 employees.
I believe they lost $10B in 2018.
If my math is right, they lose two million dollars per employee in a year.
Who’s got the picture of The Joker burning the big pile of cash?
if We stopped growing, it could be profitable, Mr. Neumann would tell staff.
I’d guess they bought (or leased) a bunch of high end commercial office space.
Looks like some kind of a SJW play.
Ehud Barak and Rahm Emanuel are involved with financing. Top management is some 40-something hypemeisters.
Kind of looks like a repeat of 2017’s Fyre Festival.
Google “wework meat policy” for a chuckle.
What does WeCo do?
Not going to subscribe to WSJ just to read the story.
They lease commercial office spaces and rent them out to go after Gig Economy workers and companies who want fixed costs for real estate.
Have you ever been to Office Depot’s Workoconomy Hub? Kinda like that but bigger.
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