4 ms·

What will happen to residents? Can we end up locked out of our offices?

by rosybox 7y ago

0xDEFC0DE 7y ago
Only if you bring an umbrella to work
- nytesky 7y ago
  WeWork branded padlock umbrellas — a path to profitability.
UncleOxidant 7y ago
Let's just put it this way: I wouldn't be leaving any valuable property in your WeWork office overnight.
jerf 7y ago
Yes, this is the sort of situation where it could rapidly spiral into a place where the building you work in is suddenly repossessed or otherwise unavailable. I would seriously consider not leaving anything that you need on a short term basis in there. You would get it back, because no amount of financial shenanigans between WeWork and any other involved part can result in someone else owning your stuff merely because it was physically located on the property, but there could be a period of time in which you are physically unable to reach it. In theory, it really shouldn't be more than a few hours or single-digit days at most (if you can't reach your property, that's theft from you), but the reality, who knows while everything is worked out. Basically, in a nutshell, I'd suggest not leaving your computing gear in there. And you should probably form a plan B for where you and, if relevant, your team is going to work if it does close suddenly. However, that should be all that is necessary. It's not really a panic situation for you, unless you absolutely can't work from anywhere else for some reason. What I laid out above is a worst case scenario for you, and probably quite unlikely. In reality I'd still expect you to receive some sort of notice, although it's possible it'll be fairly short. (If you do decide to simply pursue other office space, you may want to get moving on that. This sort of news is going to chase a lot of WeWork tenants out, and you may want to strike a deal before they push the market up. That's one of the mechanisms I have in mind when I say this could collapse quickly; the news that they are in trouble can itself create more trouble for them.)

What will happen to residents? Can we end up locked out of our offices?

0xDEFC0DE 7y ago

Only if you bring an umbrella to work

nytesky 7y ago
WeWork branded padlock umbrellas — a path to profitability.

UncleOxidant 7y ago

Let's just put it this way: I wouldn't be leaving any valuable property in your WeWork office overnight.

jerf 7y ago

Yes, this is the sort of situation where it could rapidly spiral into a place where the building you work in is suddenly repossessed or otherwise unavailable. I would seriously consider not leaving anything that you need on a short term basis in there. You would get it back, because no amount of financial shenanigans between WeWork and any other involved part can result in someone else owning your stuff merely because it was physically located on the property, but there could be a period of time in which you are physically unable to reach it. In theory, it really shouldn't be more than a few hours or single-digit days at most (if you can't reach your property, that's theft from you), but the reality, who knows while everything is worked out. Basically, in a nutshell, I'd suggest not leaving your computing gear in there. And you should probably form a plan B for where you and, if relevant, your team is going to work if it does close suddenly. However, that should be all that is necessary. It's not really a panic situation for you, unless you absolutely can't work from anywhere else for some reason. What I laid out above is a worst case scenario for you, and probably quite unlikely. In reality I'd still expect you to receive some sort of notice, although it's possible it'll be fairly short. (If you do decide to simply pursue other office space, you may want to get moving on that. This sort of news is going to chase a lot of WeWork tenants out, and you may want to strike a deal before they push the market up. That's one of the mechanisms I have in mind when I say this could collapse quickly; the news that they are in trouble can itself create more trouble for them.)