• Triton

A Little Fun at WeWork's Expense

In his article for Business Insider, Theron Mohamed interviewed Triton's Rett Wallace to dive deeper into WeWork's notoriously lacking disclosure in its IPO prospectus. While Wallace has been vocal about the lack of disclosure in the S-1 on key model drivers such as number of enterprise members, number of memberships per member, and the churn rates of both customers and locations, the two also note here another missed opportunity for transparency as it relates to one of WeWork's original defining features - free beer. "We know a cap of 4 beers per person per day was imposed on tenants in October 2018 - what is the average number of beers consumed per tenant per day, both before and after the cap was imposed?" Wallace asked.

"And how is the cap enforced?" he added. "What was the impact of the cap on 1) occupancy, 2) operating cost per location, 3) sales and marketing cost per membership?" Full article on Business Insider - HERE