Thank you for such a detailed and thorough answer! This resolves a lot of my confusion.
Based on conversations around closing the wework Lightcone office, I had assumed that you didn’t want to continue hosting office space, and so hadn’t considered that counterfactual cost. But the Inn expenses you mention seem more reasonable if the alternative is continuing to rent wework space.
The FTX context also makes a lot of sense. I was confused how the purchase fit into your current strategy and funding situation, but I understand that both of those were quite different a year or two ago. Given how much things have changed, do you have conditions under which you would decide to sell the space and focus on other projects? Or are you planning to hold onto it no matter what, and decide how best to use it to support your current strategy as that develops?
Thank you for such a detailed and thorough answer! This resolves a lot of my confusion.
Based on conversations around closing the wework Lightcone office, I had assumed that you didn’t want to continue hosting office space, and so hadn’t considered that counterfactual cost. But the Inn expenses you mention seem more reasonable if the alternative is continuing to rent wework space.
The FTX context also makes a lot of sense. I was confused how the purchase fit into your current strategy and funding situation, but I understand that both of those were quite different a year or two ago. Given how much things have changed, do you have conditions under which you would decide to sell the space and focus on other projects? Or are you planning to hold onto it no matter what, and decide how best to use it to support your current strategy as that develops?