Author Topic: #latestagecapitalism (Read 361265 times)

kingv · « **Reply #1440 on:** August 15, 2019, 08:03:39 AM »

Their business model is just dumb. They will never ever make money and will quickly go bankrupt if we go into recession.

Basically, the problem with their model is they are both an renter and a lessee.

They rent long term corporate leases (10-15 years) from people that own office buildings, then rent out to short term tenants that can leave at any time for a very slightly higher rate.

There just isn’t enough pricing power in the arbitrage they are trying to cash in on... and if there is ever a slump in commercial rent pricings or a dip in the startup economy, watch the fuck out because their renters can disappear overnight but they’re still on the hook for $4 billion/year in lease payments.

Nintex · « **Reply #1441 on:** August 15, 2019, 08:27:49 AM »

This thread of a lady talking to the Amazon PR machine is just

https://twitter.com/rulesObeyer/status/1161820065773182976

https://twitter.com/AmazonFCRafael/status/1161810441196191744

kingv · « **Reply #1442 on:** August 15, 2019, 08:52:16 AM »

We want to hear from the Amazon FC ambassadors that are real Americans.

jorma · « **Reply #1443 on:** August 15, 2019, 09:20:29 AM »

that entire thread is a wild ride

Joe Molotov · « **Reply #1444 on:** August 15, 2019, 09:28:39 AM »

I heard benji quit his job as a Mod Captain and became a Fullfillment Center Ambassador, and finally found true happiness.

Tasty · « **Reply #1445 on:** August 15, 2019, 09:30:19 AM »

Quote from: kingv on August 15, 2019, 08:03:39 AM

Their business model is just dumb. They will never ever make money and will quickly go bankrupt if we go into recession.

Basically, the problem with their model is they are both an renter and a lessee.

They rent long term corporate leases (10-15 years) from people that own office buildings, then rent out to short term tenants that can leave at any time for a very slightly higher rate.

There just isn’t enough pricing power in the arbitrage they are trying to cash in on... and if there is ever a slump in commercial rent pricings or a dip in the startup economy, watch the fuck out because their renters can disappear overnight but they’re still on the hook for $4 billion/year in lease payments.

I never really stopped and thought about it, but holy shit does this seem stupid. The only way this thing has been kept going has been as a ponzi scheme, with the early investors pinky promising the later ones it's all on the up-and-up...

Tasty · « **Reply #1446 on:** August 15, 2019, 10:36:40 AM »

agrajag · « **Reply #1447 on:** August 15, 2019, 10:41:52 AM »

Quote from: Great Rumbler on August 14, 2019, 07:44:34 PM

https://twitter.com/CNBC/status/1161478865279209472

they tested it on their employees

https://twitter.com/RespectableLaw/status/1161859828882579458

Great Rumbler · « **Reply #1448 on:** August 15, 2019, 12:52:01 PM »

Quote from: Tripon on August 14, 2019, 11:34:26 PM

https://twitter.com/CBSNews/status/1161843369900949504

Silicon Valley capitalism really is the capitalism we deserve.

Nintex · « **Reply #1449 on:** August 15, 2019, 12:54:13 PM »

Quote

WeWork, which says in the offering document that its corporate mission is no less than to "to elevate the world's consciousness," is on track to lose $2.7 billion this year from its operations, up from nearly $1.7 billion last year.

Nintex · « **Reply #1450 on:** August 15, 2019, 02:10:49 PM »

https://twitter.com/AmazonFCHannah/status/1161910397336768512

kingv · « **Reply #1451 on:** August 15, 2019, 02:38:53 PM »

Who thought this amazon thing was a good idea?

This has to be the worst or campaign ever

OnlyRegret · « **Reply #1452 on:** August 15, 2019, 02:59:09 PM »

https://nypost.com/2019/08/14/sorry-android-users-these-iphone-snobs-wont-date-you/

yesss, good consumer, make daddy Apple©™™ proud

EchoRin · « **Reply #1453 on:** August 15, 2019, 03:25:35 PM »

Quote from: OnlyRegret on August 15, 2019, 02:59:09 PM

https://nypost.com/2019/08/14/sorry-android-users-these-iphone-snobs-wont-date-you/

yesss, good consumer, make daddy Apple©™™ proud

Reads like The Onion. But I suppose this works out for everyone. If someone is that off their rocker that they only date someone with the same brand of mobile electronic devices then it's best those two don't scurry out of their bubble.

Reminds me of that couple from Best In Show that only orders all their clothes through catalogues.

shosta · « **Reply #1454 on:** August 15, 2019, 03:31:07 PM »

Did anyone else here notice Rafael's grammar and spelling magically improve as he was replaced by a tier 3 associate?

jorma · « **Reply #1455 on:** August 15, 2019, 03:42:21 PM »

Quote from: kingv on August 15, 2019, 08:03:39 AM

Their business model is just dumb. They will never ever make money and will quickly go bankrupt if we go into recession.

Basically, the problem with their model is they are both an renter and a lessee.

They rent long term corporate leases (10-15 years) from people that own office buildings, then rent out to short term tenants that can leave at any time for a very slightly higher rate.

There just isn’t enough pricing power in the arbitrage they are trying to cash in on... and if there is ever a slump in commercial rent pricings or a dip in the startup economy, watch the fuck out because their renters can disappear overnight but they’re still on the hook for $4 billion/year in lease payments.

it works if the owner of wework and the owner of the buildings they lease long term are the same person

Quote

There's an entire section of this prospectus that goes on, page after page, explaining all of the myriad deals that Neumann has with WeWork -- everything from his equity share, to the promises he's made to donate $1 billion with his wife to charity, to his habit of buying office space and then signing deals to lease the space back to WeWork, sometimes on the exact same day.

i mean, it works for him personally

kingv · « **Reply #1456 on:** August 15, 2019, 03:56:00 PM »

You forgot that he also is paying for these buildings using loans against his stake in the company that he later repaid with wework “stock”

jorma · « **Reply #1457 on:** August 15, 2019, 04:06:59 PM »

Quote from: kingv on August 15, 2019, 03:56:00 PM

You forgot that he also is paying for these buildings using loans against his stake in the company that he later repaid with wework “stock”

but they still managed to get goldman sachs and softbank to invest billions, and they aren't exactly distinguished mentally-challenged when it comes to money.. are they just banking on being able to dump this into retail when they go public?
sounds risky af with those numbers, but what do i know

kingv · « **Reply #1458 on:** August 15, 2019, 05:36:00 PM »

A SoftBank owned fund gave Theranos $100 million in December 2017.

They were in default on that loan by summer 2018. And dissolved without paying it back in september.

Great Rumbler · « **Reply #1459 on:** August 15, 2019, 05:42:07 PM »

Quote from: jorma on August 15, 2019, 04:06:59 PM

Quote from: kingv on August 15, 2019, 03:56:00 PM
You forgot that he also is paying for these buildings using loans against his stake in the company that he later repaid with wework “stock”

but they still managed to get goldman sachs and softbank to invest billions, and they aren't exactly distinguished mentally-challenged fellowed when it comes to money.. are they just banking on being able to dump this into retail when they go public?
sounds risky af with those numbers, but what do i know

Big banks are dumb and take dumb risks all the time. 2007-2008 wasn't all that long ago, breh.

Nintex · « **Reply #1460 on:** August 15, 2019, 05:49:50 PM »

The big tech bail out of 2021 is going to be fun

Yahoo bailed out for $200 billion as US tax payers cry themselves to sleep

Tripon · « **Reply #1461 on:** August 15, 2019, 08:10:58 PM »

I remember reading an article that WeWork entire business model was leashing office space on the cheap because they would take large chunks of office space and then just sublease it despite it going against some buildings lease terms. The actual building and office owners must have wised up and significantly upped the lease terms.

Brehvolution · « **Reply #1462 on:** August 16, 2019, 09:33:53 AM »

Quote from: Nintex on August 15, 2019, 05:49:50 PM

The big tech bail out of 2021 is going to be fun

Yahoo bailed out for $200 billion as US tax payers cry themselves to sleep

Marissa Mayer leaves the company with a $400M golden parachute.

Tasty · « **Reply #1463 on:** August 16, 2019, 10:51:23 AM »

Quote from: Brehvolution on August 16, 2019, 09:33:53 AM

Quote from: Nintex on August 15, 2019, 05:49:50 PM
The big tech bail out of 2021 is going to be fun

Yahoo bailed out for $200 billion as US tax payers cry themselves to sleep

Marissa Mayer leaves the company with a $400M golden parachute.

That's like... over 100 Tumblrs*! *current price

Tasty · « **Reply #1464 on:** August 16, 2019, 12:48:09 PM »

https://arstechnica.com/information-technology/2019/08/disney-fights-streaming-account-sharing-with-help-from-cable-industry/

Disney using the ashes of net neutrality to partner up with Big Telco and stop you from sharing account credentials.

agrajag · « **Reply #1465 on:** August 16, 2019, 01:21:45 PM »

https://twitter.com/AmazonFCHannah/status/1161910397336768512

Nintex · « **Reply #1466 on:** August 16, 2019, 01:26:10 PM »

Quote from: agrajag on August 16, 2019, 01:21:45 PM

https://twitter.com/AmazonFCHannah/status/1161910397336768512

Already posted breh.

But yeah, we've reached new heights of #lagestagecapitalism

I wonder what it looks like this time next year.

agrajag · « **Reply #1467 on:** August 16, 2019, 01:33:09 PM »

I skip over your posts

Nintex · « **Reply #1468 on:** August 17, 2019, 07:12:01 AM »

https://twitter.com/mashable/status/1162390308039999489

team filler · « **Reply #1469 on:** August 18, 2019, 04:49:04 PM »

AZN Rice not Noodles
2 days ago
He's the LeBron James of accountants.

redarrowhead2
2 days ago
He's the batman of accounting

team filler · « **Reply #1470 on:** August 18, 2019, 05:52:36 PM »

Tasty · « **Reply #1471 on:** August 19, 2019, 11:39:45 AM »

https://www.producthunt.com/posts/waves

Quote

Waves (Sunnyvale, CA) is a dating app for sexual fantasies

“It basically works like this: If you're into ropes, you put that in Waves, and all your potential matches are also people who are into ropes.” - Emerson

Joe Molotov · « **Reply #1472 on:** August 19, 2019, 12:48:19 PM »

https://www.politico.com/story/2019/08/19/newt-gingrich-michael-jackson-moon-1466853

Why fund NASA when you can pay Elon Musk $2 billion to go to space for you.

Don Rumata · « **Reply #1473 on:** August 19, 2019, 02:16:42 PM »

Quote from: Tasty Meat on August 19, 2019, 11:39:45 AM

https://www.producthunt.com/posts/waves

Quote
Waves (Sunnyvale, CA) is a dating app for sexual fantasies

“It basically works like this: If you're into ropes, you put that in Waves, and all your potential matches are also people who are into ropes.” - Emerson

My fetish is Disney+ account sharing.

curly · « **Reply #1474 on:** August 19, 2019, 02:56:07 PM »

Joe Molotov · « **Reply #1475 on:** August 19, 2019, 03:05:37 PM »

Meanwhile, in Japan:

Tasty · « **Reply #1476 on:** August 19, 2019, 03:18:24 PM »

Getting your Hunter License

Tasty · « **Reply #1477 on:** August 19, 2019, 03:18:46 PM »

3. Duelist
4. Joey Wheeler

tiesto · « **Reply #1478 on:** August 19, 2019, 04:10:45 PM »

Love how they gave Joey a thick noo yawker accident for the American dub.

team filler · « **Reply #1479 on:** August 19, 2019, 04:24:59 PM »

https://twitter.com/PopeyesChicken/status/1163510538959069184

Nintex · « **Reply #1480 on:** August 22, 2019, 02:55:28 PM »

https://twitter.com/MollyJongFast/status/1164303712879357952

Joe Molotov · « **Reply #1481 on:** August 22, 2019, 04:49:51 PM »

https://twitter.com/chudlogic/status/1164391177237536768

nachobro · « **Reply #1482 on:** August 22, 2019, 05:09:07 PM »

wtf kind of name is "Thatcher Wine" fucking hell

VomKriege · « **Reply #1483 on:** August 22, 2019, 05:14:00 PM »

Quote from: Esch on August 22, 2019, 04:33:37 PM

https://twitter.com/nick_kapur/status/1164233656799506433

It goes without saying that this game is entirely uninterested in trying to understand what socialism actually is and how it might function

I guess there's some value to what he is doing there and it's obviously a pretty uninspired satire... But it's not like anti-capitalism stories (in games or elsewhere) are all that subtle on average either or that economics, politics, etc... are faithfully reproduced in most games, absent of any criticism.

Edit : Nevermind I finished reading the thread and it got a lot more eye rolling by the end. I mean the original Monopoly might have been watered down but the most commonly known version still has shades of, admittedly light, satire for its setting.

Edit 2 : There's apparently at least one unlicenced Monopoly expansion similar to that (BUY NOW), Hasbro probably took a cue from them. I'd imagine this sort of reskin is a pretty cheap undertaking.

Nintex · « **Reply #1484 on:** August 24, 2019, 12:25:36 PM »

https://twitter.com/CatkinsLap/status/1165039403464560640

OnlyRegret · « **Reply #1485 on:** August 24, 2019, 11:30:01 PM »

amongst the s*ny-Disney™ war I saw some comments I wish I saved because finding them again on Twitter is too much
someone retorted to someone's criticizing Disney™ as far from weak or innocent by unsubtlely suggesting the person was racist/upset due to Disney™ casting being "diverse and full of PoCs"

woke capitalism of corporations is a fucking blight

Tripon · « **Reply #1486 on:** August 25, 2019, 01:55:22 PM »

https://twitter.com/NBCNews/status/1165678234098458624

Tripon · « **Reply #1487 on:** August 25, 2019, 04:14:57 PM »

https://twitter.com/benfoxrubin/status/1165328845509189632

shosta · « **Reply #1488 on:** August 25, 2019, 07:23:31 PM »

Syndicalists? Like the Spanish?

shosta · « **Reply #1489 on:** August 25, 2019, 09:00:06 PM »

I was making a joke about falangists $:-\$

Rman · « **Reply #1490 on:** August 25, 2019, 09:26:54 PM »

The rise of "wealth work". Jobs that exist mostly to serve the upper classes--manicurists, massage therapists, and personal trainers.

https://www.theatlantic.com/ideas/archive/2019/08/americas-hot-new-job-being-rich-persons-servant/595774/

"In an age of persistently high inequality, work in high-cost metros catering to the whims of the wealthy—grooming them, stretching them, feeding them, driving them—has become one of the fastest-growing industries.

The MIT economist David Autor calls it “wealth work.”

Low-skill, low-pay, and disproportionately done by women, these jobs congregate near dense urban labor markets, multiplying in neighborhoods with soaring disposable income. Between 2010 and 2017, the number of manicurists and pedicurists doubled, while the number of fitness trainers and skincare specialists grew at least twice as fast as the overall labor force."

Nintex · « **Reply #1491 on:** August 26, 2019, 10:06:56 AM »

https://twitter.com/officialmcafee/status/1165775859485163520

Tasty · « **Reply #1492 on:** August 26, 2019, 12:28:54 PM »

Occam · « **Reply #1493 on:** August 26, 2019, 03:06:32 PM »

https://www.instagram.com/obviousplant/p/BhJ80U9h-_h/

team filler · « **Reply #1494 on:** August 26, 2019, 10:20:02 PM »

https://twitter.com/sheckyyoungman/status/1166025980575535104

https://twitter.com/sheckyyoungman/status/1166027809023676416

bluemax · « **Reply #1495 on:** August 27, 2019, 03:31:18 AM »

This reminds me that it has been about a year since I reported my dish washer broken and it still isn't fixed. I think there is black mold in there now.

Joe Molotov · « **Reply #1496 on:** August 27, 2019, 09:41:33 AM »

Quote from: bluemax on August 27, 2019, 03:31:18 AM

(Image removed from quote.)

This reminds me that it has been about a year since I reported my dish washer broken and it still isn't fixed. I think there is black mold in there now.

Yeah, but how many bodega mixers have you been invited to?

agrajag · « **Reply #1497 on:** August 27, 2019, 03:03:54 PM »

https://nypost.com/2019/08/27/alien-planets-could-be-better-suited-for-life-than-earth-study/

kingv · « **Reply #1498 on:** August 27, 2019, 05:03:14 PM »

Remember how pressed GAF got about the ebodegas?

That was a simpler time, lol

Tripon · « **Reply #1499 on:** August 27, 2019, 10:00:15 PM »

https://twitter.com/NBCNews/status/1166529595874652162

News:

Author Topic: #latestagecapitalism (Read 361265 times)