Financial disclosures from Wework in support of its IPO reveal that the company loses almost $5,200/customer, and that it hemorrhaged $1.3B in the first half of 2019.
The company plans to lost $2.7b in 2019 overall. Its corporate mission is “to elevate the world’s consciousness.” They lose more money per customer than any other, even world-beating-loser Uber.
But what is staggering about WeWork, and what could turn off investors as a major stumbling block to profitability, is how much it loses per customer. It’s 24 times the amount that ride-sharing giant Uber, another recent IPO, is on track to lose per active rider this year, and nearly 129 times what struggling meal delivery service Blue Apron losses per subscriber, and nearly 753 times the $6.90 per year that popular pet e-tailer Chewy.com lose a year per regular customer.
Well before the collapse of Bernie Madoff’s ponzi scheme — the largest in world history! — accounting investigator Harry Markopolos had publicly accused Madoff of running a scam; now he says that General Electric is “one recession away” from bankruptcy, with a “balance sheet in tatters.”
Amazon pays happy warehouse workers to tweet about how happy they are whenever someone complains about warehouse conditions
Nelsie writes, “Twitter user tweeting about inhuman conditions at Amazon warehouses gets brigaded by tag-team of warehouse workers who are paid to tweet about working at Amazon warehouses two days of the week.”
Despite the departure of its most prominent leaders amid claims of harassment and retaliation, the Googler Uprising lives on, with Google employees circulating an internal petition demanding that the company not contract with US border agencies to provide any kind of services, on the grounds that US immigration authorities are notorious abusers of human rights.
It’s a great time to be a maker. 3D printers are on store shelves for anyone to buy, and coder kits like Arduino and Raspberry Pi are letting kids as young as 9 or 10 dive into the Internet of Things. Here are a few examples of our favorite tech toys, all priced low enough […]
Want to make a hit? The right software is out there for anyone, but any music producer will tell you that finding the right sound can still take time and talent. Still, the right tools are a great shortcut, which makes this Synth & Sound Pack Bundle absolutely priceless. And now that it’s on sale […]
Let’s face it: People at the gym aren’t bragging about their headphones. If they were that great, they’d be listening to them instead of talking about them. So while we’re sure those new PowerBeats Pro earbuds are something special, why would you shell out $250 for a tiny pair of speakers when comparable ones are […]