2 ms·
I like WeWork but I’m not sure I’m rooting for them. They pioneered the model, they got in over their skis and expanded too fast and took their eye of the ball
by afavour 3y ago
I like WeWork but I’m not sure I’m rooting for them. They pioneered the model, they got in over their skis and expanded too fast and took their eye of the ball with a million distractions.
They deserve failure. I believe the model does work and that some other company content to work on a smaller scale will find plenty of success with it. Here in NYC there are already a number of them.
- coffeebeqn 3y agoThey had zero moat. I’ve also been to a few spaces that were basically wework clones on the amenities and location but slightly better price and probably less overhead so maybe it’s sustainable
- smcin 3y agoWeWork did have a small moat, namely the worldwide membership plan ("WeWork All Access") to 500+ locations incl. conference room. Even given they massively overextended on real-estate (by paying insane commissions up to 50%) and are about to go boom, it (is/)was still good value in the short term, if you change(d) location often. (Regus similarly has access to lounge, coworking and office memberships worldwide 4000 locations).