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Not a good analogy. The house already pretty much burned down before SoftBank agreed to (second) round of investment.

• worik 7y ago
  No it had not. I am a long way away but from what I can ell from he news I follow it has a good core business. It was run by a crook, who still has his hooks in, but the real estate business was sound. Until all the income from short term leases evaporates due to curfews and the long term leases they pay keep ticking....
  • eldavido 7y ago
    It is a good core business. The press is just trying to spin this into some big exciting story as they are wont to do, this time playing up the "How the mighty fall" and "David v Goliath" angle. I am a paying wework customer as well as a person who owns commercial real estate. There's not much to see here. Some investors paid too much. Let's all let them take their losses and move on. I'm tired of hearing every tech-hating, New York Times-reading, "in the know" person having some huge opinion on this.
  • greglindahl 7y ago
    Literally the entire real estate industry thought WeWork would go bankrupt in the first downturn, due to the focus on short-term leases and the mismatch with WeWork's underlying long-term leases. Well, here we are. You might try finding more diverse news sources. Even comments on HN pointed out this particular issue.