We 'Did Not' Work ...So What Will?

Good morning.

I have been spending a lot of cycles studying affinity membership clubs.

Today, I pulled up the $WE (WeWork) ticker on Stocktwits and saw the stock at $1.40. That gives the company a $1 billion valuation. Not good considering they have raised over $22 billion. Ok…pathetic and gross.

While WeWork has been an epic financial disaster, there are other, narrower clubs and workspaces that do seem to be thriving. Investors and entrepreneurs are not shying away from the basic idea of work spaces, affinity, community and common interests with iterations.

I say ‘seem to’ because most are private and do not share financials.

The grandaddy of affinity is AMEX which offers access to airport clubs and other venues I am sure and all kinds of travel discounts.

The YPO has over 30,000 members paying over $8,000 a year for leadership networking.

Chief has raised a lot of capital and has a lot of buzz and looks like a YPO for women leaders.

SOHO House has had many ups and downs and iterations, but seems to be thriving as a Gen-Z and millennial networking club and community.

Tiger 21 is a high net worth and family office ‘peer’ network.

Gravity Haus is a social club for the modern adventurer.

While WeWork did not work…look for more of these narrower versions of clubs and workspaces to proliferate.

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