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To me, WeWork seems like one of those businesses whose success might be based on a novel but easily-duplicated idea. After they blaze the trail of providing a
by adrianmonk 7y ago
To me, WeWork seems like one of those businesses whose success might be based on a novel but easily-duplicated idea.
After they blaze the trail of providing a different approach to office space, is there a lot to stop competitors from doing the same thing?
Maybe there are more, but I only see two advantages they have over competitors: name recognition and economies of scale. And since leasing space is a large expense for tenants, it's natural for people to shop around a bit, making it a natural area for competition (and driving down margins).
WeWork's web site uses the word "revolutionary". Once the revolution has finished happening, what reason is there to believe that WeWork is going to own it? Obviously WeWork has a head start, but is there anything they've done that others can't do?