They Rent Office Space

As he ordered more shots to be delivered to party guests and brand-devotees, WeWork (they rent office space) CEO Adam Neumann celebrated his company’s growth and its roots: “This is the center of the world. The people, the beer, the energy. It all comes from here. It’s the Brooklynization of the world.” [NextDraft Editor’s note: people cheered at this point.] “Whatever you want to do, the world will help you do it. You will raise investors. Whatever you want to do, whatever God wants you to do, whatever the world needs you to do, you will do it, because each and every one of you … is a creator.” I don’t quite know what that means, but I’m pretty sure it sums up the weird and often wild world of private company valuations in the tech boom. And now WeWork (the re-renter of cool-ified offices to millennials who — with the help of exposed brick, high ceilings, and ping pong tables — believe themselves destined to earn more than their fair share from the sharing economy) is morphing into WeLive. Is this the beginning of the end of our office/home distinction? Who cares? Let’s just join The Awl’s Brendan O’Connor as WeParty Like It’s 1999.

+ WeWork is currently valued at a cool $10 billion (they rent office space). Is this a classic story of the perfect timing of a good idea and a growing need? Or is this a story of investors who have a bad case of FOMO? Either way, it’s definitely a story of our times. From Buzzfeed’s Nitasha Tiku: How WeWork Convinced Investors It’s Worth Billions. (They rent office space.)

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