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Ehh, I disagree. OP is incorrect in that WeWork owns little of their own real estate, but from what we can tell they were leased at fair market rates from their
by potatolicious 3y ago
Ehh, I disagree. OP is incorrect in that WeWork owns little of their own real estate, but from what we can tell they were leased at fair market rates from their actual owners (some of whom are Adam Neumann himself, which is... bad).
The only parties that really got fleeced here were Softbank and their totally unclothed VC siblings who bought Neumann's messianic complex like rubes. Building owners by and large seem to have been treated fairly?
I would argue the gig economy has been worse, since those who got fleeced were largely working people being squeezed and having massive externalities and liabilities dumped onto them.
- userinanother 3y agoThe building owners were absolutely greedy fools to sign those lease agreements they will go bankrupt