> You’d compare it to a brand or tech company—maybe Chipotle or Uber. I get the Chipotle analogy, but Uber definitely does not make sense. Uber neither owns n

> You’d compare it to a brand or tech company—maybe Chipotle or Uber. I get the Chipotle analogy, but Uber definitely does not make sense. Uber neither owns nor leases the cars, so they don't need the massive capital. The drivers provide that. And Uber scales pretty easily: hire a bunch of contract drivers in your new city, and then open it up. Whereas WeWork has to find office space, sign up for multi-year leases, re-architect and re-decorate it, and then can get monthly memberships. If you break it down, WeWork is "24 Hour Fitness for Coworking" (or insert your favorite gym name).