WeWork announces 1-for-40 reverse stock split to retain New York listing::US office space group recently warned it faced ‘substantial doubt’ about ability to continue as a going concern

  • TehWorld@lemmy.world
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    2 years ago

    I’m pretty much the target for this, I travel a lot for work and it’d be nice to have a place to “office” out of, but the competition here is:

    1. Free - Even after checking out of my hotel, the lobby always has a corner or two to work in and decent wi-if. 1a) I have status at one chain and they’re always great about just letting me walk in to any of the chain and suck up some internet and plug in my laptop, even if I wasn’t staying there. Bonus is that they usually have coffee!

    2. Free - my car. With tethering my phone to my laptop, I’ve done more calls than I care to admit by just finding a random shady place to park the car and get to work. 2a) The park (when it’s nice enough outside)

    3. Free- Libraries - The public library system is great. Not a good place to take calls, but if you need a place with a chair and internet to do some work, it’s an option.

    4. Free - Client’s offices. I have a good enough relationship with a number of clients that I can ask to take over an empty desk (one even has an empty office with a KILLER view of the city that they’re just fine with me taking over for a couple hours.

    5. Cheap - Coffee shops. Buy a drink (bonus) and grab a seat for a bit. They’re super abundant and you can almost always find one close to your next meeting.

    I’m certain that WeWork has its benefits, but competing with free is pretty hard.

    • phoneymouse@lemmy.world
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      2 years ago
      1. If you’re not travelling, you often don’t have a hotel. You could argue that working from home is also an alternative though. People looking for a WeWork may be trying to separate home and the office though, or escape distractions like children or roommates.
      2. I could see doing this in your car for a short period, but not an entire day. It will get hot, cold or hard to breathe. Not to mention street noise.
      3. Yes, though most libraries in major cities are full of homeless people, which makes it a hard regular option. It might work fine one day, but another day might be overcrowded. I’m guessing people getting WeWork are looking for some regularity.
      4. Sure, again works for a day or two. Not a long term solution. No client will let you work there everyday without eventually charging you rent.
      5. Yes, you can certainly do this for a couple hours. After awhile you gotta buy another coffee or lunch. It will start to get expensive. Also, doing this everyday in the same location may start to become weird or get you kicked out.

      WeWork isn’t targeted at people who need an occasional office, but people that don’t have a traditional office building and need a regular, stable workspace.

      • TehWorld@lemmy.world
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        2 years ago

        All good points. I have a nice home office and a desk at HQ that I can go to. I guess I’m not the target market.

  • HelloThere@sh.itjust.works
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    2 years ago

    Now, I’m not as smart as the refined folk at the FT, but I think the word they are looking for is “merge”, not “reverse split”.

    • 0xb@lemmy.world
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      2 years ago

      finance is full of that kind of terms that would even be goofy if they weren’t that misleading.

      when the economy contracts very often is called ‘negative growth’.

      • thrawn@lemmy.world
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        2 years ago

        It’s because broad adoption of the existing term -> fewer misunderstandings if you just use a variation. Anyone with even passing knowledge of stocks has heard of splitting. The inverse is so comparatively rare that the term wouldn’t be widespread enough to be as immediately understandable as the (admittedly dumb sounding) reverse split.

        In part because stock merge could feasibly be multiple things. Stock share merge is more specific, but that’s three words that don’t flow very well rhythmically. A reverse split can only be one thing and is the most layman friendly.

        • delicious_tvarog@lemmy.world
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          2 years ago

          Merge implies more than one company merging together to become one, which I’m guessing is why we have the term “reverse split”