To me, WeWork seems like a business model that works great when the economy is growing and terribly when the economy is shrinking. I assume the the draw of sel

To me, WeWork seems like a business model that works great when the economy is growing and terribly when the economy is shrinking. I assume the the draw of selling a 10-20 year lease is that it mitigates the business cycle risk for the property owner (there are other advantages but this would seem to be the main one). This allows the building owner to cut prices for the long-term lease relative to a short-term one. Thus, when the economy is booming and businesses need space, WeWork looks fantastic--real estate arbitrage! ... And then when the economy goes into a recession, WeWork is stuck with a long-term lease that you can't exit and a dearth of subtenants that destroys your revenue stream. WeWork has only experienced the former on its short life so far. I'm interested to see how it manages the latter.