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That's equally genious and stupid. WeWork has to be successful to be able to pay the lease. If WeWork is successful then he can continue to make money from W
by RandomBacon 7y ago
That's equally genious and stupid. WeWork has to be successful to be able to pay the lease. If WeWork is successful then he can continue to make money from WeWork via being a CEO. He should have 'diversified'.
- olliej 7y agoIt's even better - people clearly need office space, so even if WeWork fails he can lease to other people. If WeWork fails to pay for their lease he can take them to court - and I would not be surprised if there are some fun creditor priorities in the bankruptcy terms of the lease agreements. Seriously, I appreciate screwing the VC funders, but it does kind of demonstrate the kind of guy he is.
- jdsully 7y agoIf WeWork fails it will likely be because people don’t need office space (i.e. a recession).
- olliej 7y agoMuch like Uber and Lyft, we work runs at a loss that scales with usage. In the event that continually losing ever increasing amounts of money somehow results in bankruptcy all of the people currently leasing office space will probably try to lease the building space directly.