I've been saying for years that a company whose main "asset" is actually a bunch of liabilities (commercial leases) is a disaster waiting to happen in a recessi

I've been saying for years that a company whose main "asset" is actually a bunch of liabilities (commercial leases) is a disaster waiting to happen in a recession. My concern is what happens when WeWork fails, not if. Best case, we see a temporary/short term downturn in commercial real estate in places like NYC and SF where they probably have a lot of presence. But, I don't see how a real estate downturn accompanied by a recession is going to be short term. It reminds me a lot of some of the companies in the dot com bust that were being kept afloat by either online ads or selling to other startups in that I expect the blast radius to be far, far larger than one single company.