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The big difference is that WeWork spent a bunch of time arguing that you shouldn't value them based on the actual financials of their business. Whereas Uber pursued a risky but honest strategy of winning market share with the intention of recovering margins once they were the incumbent. The whole community EBITDA thing was just a transparent attempt to trick people into thinking there was financial value in the business when there wasn't. And to be clear, Neumann's new start up is trying exactly the same thing, waving his hands in the air about how fulfilling his tenants are going to be plunging their own toilets and how that will create financial value.



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