4 ms·

I never said it was the majority? It was just an example of grift. The only correct number of buildings a company should be leasing from the CEO is zero. In a s

I never said it was the majority? It was just an example of grift. The only correct number of buildings a company should be leasing from the CEO is zero. In a similar vein, the company should not be leasing the We branding from the CEO. WeWork was not operated in a way to succeed. I am only taking issue with the notion that the core business model (renting real estate) is flawed. Had there been a willingness for modest, organic expansion and not jet-fueled-VC-hypergrowth, the company could have succeeded.

wpietri 4y ago
The WeWork core business model is not just "renting real estate". It's paying for long-term leases and then subleasing on short-term ones. The business model was always bad because office space is sensitive to the economic cycle and boom-bust cycles in office building. The closest it gets to working is a company like Regus, who services the fringes of the market, like companies that aren't big enough to get a regular lease, but they provide a bunch of add-on services.