> We have approximately 1,000 engineers, product designers and machine learning scientists that are dedicated to building, integrating and automating the complex systems we use to operate our business
Not enough, and you have a huge queue to use them, too many and you have lost office space rental.
Outside of that there isn't much tech to go around.
We used them before they were WeWork, when they were still GreenDesk in Dumbo.
Overall it was great, and it's a great product given the flexibility and move in ready amenities that it provides and if you ever step foot inside of Regus you will immediately notice the difference.
Though now there is a lot of competition from smaller companies and of course I'm sure Regus has stepped up their game in response.
Their growth is amazing, but ultimately it's still a real estate holding company. The same is true for E-commerce. Though their volume is immense, they trade no where near their multiples for revenue as other tech companies given the different margins they have, cyclical sales cycles, and many other factors that make that sector much less attractive than a pure software play in the B2B space.
But looks like we will see how this all plays out.
Really the exposure that Softbank has here is the real worrying issue. It's a massive stake, at a massive valuation, and if this IPO doesn't perform well (and most people think it won't), this maybe a real red blot on their performance.
How is that a tech challenge?
The only actual tech they have is their swipe card access and room/desk booking systems
They might use some tech internally to optimise certain aspects of their business, but that would be like calling a coffee shop that does their finances in Excel a tech company
Saving the world!
>Overall it was great, and it's a great product
Yes, much like Uber, Lyft, Tesla, Blue Apron and on and on, consumers love products priced far below their actual costs.
Edit - found this - https://www.inc.com/betsy-mikel/wework-is-trying-a-creepy-ne...
>WeWork's latest acquisition is a small software company with 24 employees. Euclid is a spatial analytics platform...Euclid's website says the company is "focused on redefining the workplace experience of the future." Translation: optimizing every aspect of the physical workplace so workers are their most productive. Euclid does this by tracking how people move around physical spaces. Its technology can track how many people showed up to a meeting or to that after-work happy hour. The company can see where employees tend to congregate and for how long. It's all done over Wi-Fi.
