Dixon’s comment was, in my opinion, clearly born out of the frustration he feels at IWG’s substantial undervaluation, compared to the value of its over-hyped rival, WeWork. IWG’s current valuation sits at approximately £3 billion, which is almost half of what WeWork is expected to de-SPAC for later this month. Why is IWG-which is around twice the size of WeWork-only worth half as much? This would imply that each IWG workstation is worth only one quarter as much as a WeWork one. If you ask me, the idea that IWG is worth only one quarter of what WeWork is worth is such utter nonsense that it defies belief. In my opinion, IWG is worth more than WeWork despite the latter’s new management and despite the departure of messianic founder Adam Neumann and his fragrant spouse. Either IWG is worth more than $9 billion or WeWork is worth less than $4.6 billion, or at least one of those valuations is wrong. I am not an analyst, but I can see plenty of justification for a value of at least $6 billion for IWG i.e., a 50% premium to its current share price, with WeWork being worth $4.5 billion, a 50% discount to its planned de-SPAC value.