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Winners & Losers in Your Inbox.

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Losers: WeWork investors. The firm’s $16 billion valuation is higher than that of Starwood Hotels, despite the fact that its business model essentially consists of renting space on a couch. WeSee this bubble bursting soon.

Winner: HotelTonight, which enjoys high ratings amid a boom in mobile booking apps. In contrast to WeWork, this company isn’t valued highly enough.

A continued winner and loser: Instagram and Twitter, respectively. Instagram has twice as many advertisers as Twitter, and while most of its buy buttons have yet to be used, the strategy is more about e-influence than e-commerce.

Losers: home buyers in Beijing, which this year joined the 10 most expensive cities for luxury housing. But they’re better off than those in New York and Monaco, who can buy even less space for their million bucks.