I've been hearing surprisingly often the sentiment that WeWork is "undercutting its competitors in a race to the bottom, using investor capital as oxygen to sus

I've been hearing surprisingly often the sentiment that WeWork is "undercutting its competitors in a race to the bottom, using investor capital as oxygen to sustain losses while other serviced office-space providers ran out of breath and expired". This seems surprisingly disingenuous. The numbers show that WeWork is charging its clients at a gross margin that is comparable, if not greater, to traditional rivals like IWG [1]. WeWork might be operating at a net loss, but that is only because they are reinvesting all their money into growing their capacity. It seems unfair to accuse WeWork of winning simply by undercutting its rivals so as to starve them of oxygen. It also seems unfair to accuse WeWork of destroying the economy via unprofitable business models, and to accuse its CEO of being a complete charlatan, when they have successfully built a legitimate billion dollar business from scratch [1]. Is WeWork overvalued in its recent valuations? I think so. But that is the folly of its investors, and investors alone. The commentary that companies like WeWork are somehow fraudulent and worthless and ruining the economy, seems ridiculous. [1] https://news.crunchbase.com/news/gross-margins-wework-and-the-public-comp-question/ https://news.crunchbase.com/news/gross-margins-wework-and-th...