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Old 21st November 2019, 10:56 AM   #41
Hellbound
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For some reason, I keep reading the thread title as WetWork instead of WeWork.

The title works either way, really.
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Old 21st November 2019, 10:59 AM   #42
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We should develop an app that automates the process of recruiting, tasking, and paying assassins.
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Old 21st November 2019, 11:04 AM   #43
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Originally Posted by theprestige View Post
We should develop an app that automates the process of recruiting, tasking, and paying assassins.
"Hello, user1673. Who would you like to kill today?"
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Old 21st November 2019, 11:42 AM   #44
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Originally Posted by Leftus View Post
Darat had it nailed. They had an App. An App.
In addition, they have a pretty decent Human Resource system called Workday. That line of business may actually be profitable for the company.
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Old 10th December 2019, 07:22 PM   #45
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Only tangentially related to WeWork, but it doesn't really merit its own thread:

SoftBank bails on $300 million investment in dog-sitting company Wag

Just that headline made me chuckle. A dog-sitting company? $300 million?

Quote:
SoftBank Vision Fund is bailing on Wag, the dog-walking and dog-sitting company in which it invested $300 million in early 2018.

What's happening: SVF will sell its shares back to the company for an undisclosed amount, and give up its board seat.

The big picture: This is just the latest black eye for SVF, but isn't quite as dark when viewed in the context of traditional VC portfolio management. The Wag investment represents 0.3% of SVF's committed capital.
I wonder how much a person can earn as a dog sitter/walker? Even if it's just minimum wage, some people might prefer that to flipping burgers at McDonald's.

ETA:

https://en.wikipedia.org/wiki/Wag_(company)
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Old 11th December 2019, 11:37 AM   #46
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Originally Posted by Puppycow View Post
I wonder how much a person can earn as a dog sitter/walker? Even if it's just minimum wage, some people might prefer that to flipping burgers at McDonald's.
Many of my coworkers do, yeah. The remuneration can be several times minimum wage if you're organized, but there are risks and overhead costs that eat into gross profits that vary regionally.

Just for example, I have a coworker who works weekend shifts, so she's free M-F all day and walks dogs and does some pet sitting in the city (Vancouver). She hikes the trails daily anyway, and now takes along an average of 5 dogs at a time. Her overhead costs are incorporation, insurance (dangers include animal getting hit by a car, stolen, attacked by other dogs, lost off leash, inexplicable sudden death, &c), some equipment like spare leads and muzzles and toys and treats, plus part of the costs associated with owning a van. She estimates it's about $4k/mo at the moment, four hours a day M-F, mostly outdoors, and pretty physical, which she likes. She's a triathlete.

She knows some of her competitors have expanded and have staff, so this can potentially scale and she can stay in the biz even if her physical abilities diminish and she can't do the walking anymore. It's her post-retirement plan.


ETA: one of the post-retirement income ideas I have for myself is kennelling cats at my recreational property where I have acreage. It's incompatible with the bylaws for my primary residence in Vancouver, unfortunately.
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Old 11th December 2019, 11:45 AM   #47
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Originally Posted by superfreddy View Post
In addition, they have a pretty decent Human Resource system called Workday. That line of business may actually be profitable for the company.
Oddly I'm currently in a presentation by someone from Workday.
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Old 11th December 2019, 12:23 PM   #48
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My understanding of the SoftBank fund strategy is that it is a moonshot fund. They fully expect many of their investments to fail, but hope that the few that do succeed will succeed at such scale to still generate a net gain for the whole fund. They believe by having enough money, they can invest in enough of these startups that they have a high chance of success. By having enough money, they hope they can be in on the ground floor of the next Facebook or Uber or whatever.

My view is that pumping such vast sums of cash into the tech industry is creating a huge incentive for fraudsters, such as Neumann and others, to start up companies that only exist to bilk investors for high salaries and perks before they invariably go bankrupt.

From Neumann's perspective, WeWork was a success. He got paid big bucks while it lasted and only the investors and employees will get screwed when it goes bust.
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Old 12th December 2019, 09:53 PM   #49
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Originally Posted by blutoski View Post
Many of my coworkers do, yeah. The remuneration can be several times minimum wage if you're organized, but there are risks and overhead costs that eat into gross profits that vary regionally.

Just for example, I have a coworker who works weekend shifts, so she's free M-F all day and walks dogs and does some pet sitting in the city (Vancouver). She hikes the trails daily anyway, and now takes along an average of 5 dogs at a time. Her overhead costs are incorporation, insurance (dangers include animal getting hit by a car, stolen, attacked by other dogs, lost off leash, inexplicable sudden death, &c), some equipment like spare leads and muzzles and toys and treats, plus part of the costs associated with owning a van. She estimates it's about $4k/mo at the moment, four hours a day M-F, mostly outdoors, and pretty physical, which she likes. She's a triathlete.
Wow. I had no idea.
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