Tech
Why WeWork Is Considering An IPO Despite Losing $1.9B in 2018
WeWork’s parent company, The We Company, is set to go public this year. It’s the latest in a string of richly valued start-ups considering an IPO in 2019. Even though The We Company was recently valued at $47 billion it’s hemorrhaging cash and lost $1.9 billion on $1.8 billion in revenue in 2018.
Things improved for WeWork in the first quarter of 2019, but only slightly: The company says it lost $264 million on $728 million in revenue during the quarter.
Its core business centers on renting out co-working spaces to everyone from startups and freelancers to large enterprises. WeWork says it’s in 485 locations and has 466,000 members, up from 186,000 in 2017.
The We Company’s CFO told CNBC that investors should look at WeWork’s losses as “investments” that will lead to more cash flow. However, Lyft and Uber’s recent IPO stumbles could bode poorly for WeWork’s chances of a successful debut, as investors seem wary about taking a bet on companies that lack clear paths to profitability.
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#WeWork
Why WeWork Is Considering An IPO Despite Losing $1.9B in 2018
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CNBC’s Michael Wayland takes a first look at electric vehicle startup Slate Auto’s modular $25,000 pick up trucks. The cars are affordable and basic, with features that buyers can customize. That includes turning the truck into an SUV. The vehicles had more than 150,000 refundable reservations before their release, despite waning consumer demand in EVs in the U.S. The company is about to find out if the truck can disrupt the market.
Reporting by: Michael Wayland
Produced and Camera by: Natalie Rice
Edited by: Darren Geeter
Senior Managing Producer: Tala Hadavi
Additional Footage: Slate Auto
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CNBC Takes A First Look At Slate Auto’s $25,000 Modular Cars
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AI data centers are driving unprecedented demand for electricity and putting renewed pressure on America’s power grid to modernize its equipment and develop greener, more efficient sources of power. Google, Meta, Microsoft and Amazon are all spending millions of dollars on local infrastructure upgrades and companies like SpaceXAI are even building off-grid power plants to power their data centers.
Google says its planned 780-megawatt data center in Pine Island, Minnesota, could offer a model for powering the AI boom. In a proposed agreement with Xcel Energy, Google says it will support 1,900 megawatts of new wind, solar and battery capacity, while minimum payments and exit fees are intended to protect local ratepayers if demand falls short.
CNBC examines whether projects like Pine Island can make the grid cleaner without shifting costs to existing customers, why some energy experts argue that smaller data centers could make better use of infrastructure already in place, and how utilities’ financial incentives can complicate efforts to build less.
Chapters:
0:00 – 2:06 Introduction
2:07 – 4:49 Off-grid solutions
4:50 – 9:00 Upgrading the grid
9:01 – 11:44 Smaller data centers
Produced by: Jeffrey Kopp
Senior Director of Video: Jeniece Pettitt
Tech Correspondent: MacKenzie Sigalos
Edited by: Erin Black, Matt Soto
Camera: Donny Rowles
Animation: Jason Reginato, Emily Park
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Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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The Race To Power AI Is Reshaping America’s Electric Grid
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A leak by Indian supplier Tata Electronics, purportedly of the yet-to-be-released iPhone 18 Pro models, has become marketing gold for the Chinese government. The Communist Party paper, The Global Times, is using the leak – caused by a cyberattack – as a cautionary tale for Apple and other American companies that are in the process of diversifying their supply chains away from China. CNBC’s Eunice Yoon reports.
00:58 Correction: The location tag should be Beijing, China.
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Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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China’s Swagger After India’s iPhone 18 Leak
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Unstoppable demand for AI is leading to a capacity crunch on factory lines at the world’s leading chip manufacturer, Taiwan Semiconductor. And it could put a chokehold on AI’s ability to scale. Analysts tell CNBC that Nvidia, Apple, Broadcom, AMD and others are locked in an “extremely fierce” competition to get their GPUs, CPUs and custom AI chips made at TSMC. Capacity can’t come online fast enough, despite TSMC’s rush to build new fabs in Taiwan, Japan and Arizona, where has expanded investment to $265 billion. The strain has made one man at TSMC “the most popular person on the planet,” as chip start-ups and big name CEOs visit Taiwan to ask him for wafer allocation. It’s also created a rich opportunity for Intel, as customers look to the long-struggling foundry arm of the U.S. chip manufacturer for a second source.
Chapters:
0:00 Introduction
2:06 ‘Most popular person on the planet’
6:54 Making room for smaller players
9:10 Can new U.S. fabs ease the crunch?
Producer and Reporter: Katie Tarasov
Edited by: Matt Soto, Andrew Evers
Camera: Eddie Temborski, Robert Lampe, Evan Reinhardt
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato, Emily Park
Additional Footage: Cerebras, D-Matrix, Getty Images, Intel, Nvidia, OpenAI, SpaceX, TSMC
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
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Why There’s An ‘Extremely Fierce’ Battle For TSMC’s Limited Chip Manufacturing Capacity
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Warner Music Group, the third-largest music label by market share, is tapping into the South Asian music movement with its latest venture.
CNBC’s Laya Neelakandan explains.
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@HoangPham-qp3si
January 11, 2024 at 10:08 am
Boom
@talibahmed
January 11, 2024 at 10:08 am
Now, we know
@english_badminton_history
January 11, 2024 at 10:08 am
Now 4 years since this video was produced, Wework has been teetering on the brink of bankruptcy.
@leonardos2925
January 11, 2024 at 10:08 am
"CNBC loves them".
@Victor_Trumper
January 11, 2024 at 10:08 am
The pandemic not only put final nail in the coffin in We work but buried it 8ft Underground.
We Work is now We're Dead
@PrashantTayshetye
January 11, 2024 at 10:08 am
Thought they were bankrupt
@MidnightRambler
January 11, 2024 at 10:08 am
Ponzi
@omarperalta9590
January 11, 2024 at 10:08 am
So that went downhill pretty fast Lol
@eks1287
January 11, 2024 at 10:08 am
this video age beautifully as the pandemic strikes
@NT-ll5qq
January 11, 2024 at 10:08 am
I don’t know why a company like amazon needs a middleman for their employee to have an office they can build their own building plus it will become assets unlike renting same with other companies who use this we work platform don’t invest to a company that’s main business is being a middleman such a waste of money
@melissastork3649
January 11, 2024 at 10:08 am
Damn this aged very badly…I imagine COVID has crushed WeWork 😅
@stewiegriffin366
January 11, 2024 at 10:08 am
The CEO looks like a disheveled drunk. Who would invest with him?
@jedijedi-te4fe
January 11, 2024 at 10:08 am
A place where hipsters work and when Trump wins in 2020 they can cry with eachother shoulders. 😭😭😭😭 😂😂😂
@zusiphesikayi2390
January 11, 2024 at 10:08 am
Post coronavirus =WeBroke
@mohammedalmuqwishi
January 11, 2024 at 10:08 am
Since the WeWork's CEO called to pay $6 million to acquire “we” brand which the same WeWork's CEO was holding name "we" for his personal brand, I understood there're some dirty games happening behind this business and it deserved to be broken.
@zacharysimpson4025
January 11, 2024 at 10:08 am
"we're a community of creators"..
i'll call you con artists
@leeanucha
January 11, 2024 at 10:08 am
Post covid time, suddenly WeWork office space idea is pretty much obsolete. But i love the idea and hope they make it.
@ALevelBusinessStudies
January 11, 2024 at 10:08 am
Like the covid-19 virus where work from home will leave commercial properties empty. This is how the 1% get their BAD investments back- from uninformed investors. Stay away!
@aritragupta4182
January 11, 2024 at 10:08 am
More like WeLie, or WeSuck
@FerraPizza
January 11, 2024 at 10:08 am
Attempt to rob a bank go to jail…. Attempt to rob 1000s of investors and defraud staff get a $1.3 billion payout from key investor… Your legal system is hilarious
@maxinpains6937
January 11, 2024 at 10:08 am
Exit scam .
@nolimitexotics
January 11, 2024 at 10:08 am
I never heard of them till this video lol
@jonnyboy8000
January 11, 2024 at 10:08 am
Yelp fools gold
@walta4947
January 11, 2024 at 10:08 am
Losses are a big big Problem !!!!
@shashikanth6990
January 11, 2024 at 10:08 am
the moment money supply is stopped, that's the end of many like WE, she, him, her, they all of us at last.
probably even roman's never printed this much amount of money.
@vahtarwo1
January 11, 2024 at 10:08 am
WeWork, WeScam,We Ate or Our CEO Neumann ate Investors Money, WeOvervalued Sh$t,So We Overvalued our company at 47 Billion when the Actual Value is Mere 5 Billion. We Over-Eat too,our CEO Bought a $60 Million Jet from Investors Money when He knows He can’t physically Afford it. WeFailed IPO too. Now We are Left with abundance of Empty offices without Tangible Customers to Generate money. WeBroke now. Lemme Shot up Before u Guys Block me.
@bobschnittman2856
January 11, 2024 at 10:08 am
I am missing how WeWork is a "tech" company
@ChristoherWGray
January 11, 2024 at 10:08 am
Oh
IBM rented from them
They are the leading makers of buggy whips now
Where do I sign up?
@ChristoherWGray
January 11, 2024 at 10:08 am
Adam Neumann
Another pied piper charlatan who wants us all to live in a kibbutz and offer our women to him
@ChristoherWGray
January 11, 2024 at 10:08 am
Yeah
You're not just renting a desk or an office
You're buying into the new age guru BS of Adam Neumann and Gwyneth Paltrow Goop like nonsense
@selfsacrafice
January 11, 2024 at 10:08 am
😉 We are not a real estate company. We are a network of creators that divide /serve up SPACE to help creators expand their company…….
Soooooo you're a real estate company 😐
@minyaksayur
January 11, 2024 at 10:08 am
IPO? lol …. who is buying? Wework is puking blood, better leave it for dead. Rev $1.8 billion profit ? -$1.9 billion? yeah…no…
@0121chuchurocket
January 11, 2024 at 10:08 am
People paying $350 a month for a wework desk spot knows that they can do pretty much the same for free at a starbucks right?
@LisaSimpsonRules
January 11, 2024 at 10:08 am
Andy Neumann was a specialist in selling HOT AIR. That was his product.
@arthurzhu795
January 11, 2024 at 10:08 am
Look how lightly they brush through Neumann lease back property to his own company.
@popocucu7749
January 11, 2024 at 10:08 am
First this is not a tech company 🙂 2nd pressure from its existing investor for ROI…. The only way to do it increase valuation, complete IPO listing, existing investors cash out and minor investors burnt their fingers….
@markbrown5117
January 11, 2024 at 10:08 am
Wework expanded too fast.
@thomasnedunthally3689
January 11, 2024 at 10:08 am
2050 – We Da North
@ducatipaso1386
January 11, 2024 at 10:08 am
Great bussness model: huge liabilities, not enough income and no assets. I must not be hip enough to understand what We are trying to achive…
@grassedup5859
January 11, 2024 at 10:08 am
This sounds exactly like moviepass
@phaggio
January 11, 2024 at 10:08 am
What tech? There's no tech. Just buzz words…
@marks6406
January 11, 2024 at 10:08 am
Great idea ….. horrible management.