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As the recession deepens, WeWork will surely eventually implode. I can see it now: vast swathes of empty commercial real estate. If you thought ghost malls were
by 0x8BADF00D 8y ago
As the recession deepens, WeWork will surely eventually implode. I can see it now: vast swathes of empty commercial real estate. If you thought ghost malls were bad, wait until you see ghost WeWorks.
- chimeracoder 8y ago> As the recession deepens Deepens? We're not in a recession, and we haven't been for nearly a decade. It's true that, by historical standards, we're arguably overdue for a recession, but the word "recession" is precisely defined, and the US unambiguously does not meet the criteria for being in one.
- kortilla 8y ago>Deepens? We're not in a recession, and we haven't been for nearly a decade. There is a non-negligible portion of people who have bought into the political narrative that “stock market volatility = recession”. It’s political in the sense that “the economy can’t possibly be good with the current leadership”. Don’t waste your breath arguing with it because it’s politics, not facts or rationality.
- deleted 8y ago[deleted]
- rurp 8y agoMy limited understanding is that the start of a recession is only officially recognized in hindsight. That doesn't mean we are in one, but I don't think we can necessarily say that we're not.
- Animats 8y agoYes. The usual definition is "two down quarters for GDP". So there's a six month lag. The US hasn't had a down quarter yet this year. Q3 was pretty good. We'll know about Q4 in January.
- creato 8y ago> If you thought ghost malls were bad, wait until you see ghost WeWorks. Are there really that many locations? I've seen a lot of malls, I've literally never seen a WeWork in person.
- umeshunni 8y agoNot that many compared to malls. 280 locations, spread across 77 cities in 23 countries. 10M sq ft in total (as of 2017).