As others have said: Regus. What is being missed though: WeWork have actually built out a fairly comparable level of capacity to Regus. The difference is that

As others have said: Regus. What is being missed though: WeWork have actually built out a fairly comparable level of capacity to Regus. The difference is that WeWork are heavily concentrated in major cities, whereas Regus is diversified (they have locations in Mongolia and Nepal, I believe). The reason why is simple: Regus made the mistake of overbuilding in major cities last time round. The US business went into BK, they aren't making that mistake again. In fact, even taking this very capital investment strategy, you can see that they still have substantial swings in their business. WeWork have built out massive capacity which cannot be filled (in London, they actually have a meaningful market share of new office space). They did this because you can show great short-term results. BK is inevitable. I would go as far to say: anyone who believes this isn't bullshit has identified themselves as an idiot too (at least, in terms of investment knowledge). This isn't remotely difficult.