Re:Was WeWork Ever Going to Work?
by Nursie on Saturday October 05, 2019 @10:38AM
(#21165753)
Not at those insane valuations, no.
The business model, at its core, is a fine one. But it's one that's already out there, working fine in a slow, normal, boring way for companies like Regus. I've used Regus spaces, they're fine.
They're not cool, trendy startup collab spaces with beanbags and baristas, but AFAICT they are actually more conducive to real grown-up business use.
Maybe there is a market for a more startup-focused temporary office space business. But it's not one that's going to shake the foundations of the world, nor bring in 100x the investment for VCs.
Re:Was WeWork Ever Going to Work?
by jdm2212 on Saturday October 05, 2019 @03:12PM
(#21167338)
Yeah, they just don't have much of a moat to allow them to command monopoly rents. Whatever innovations they introduce, others can copy, and most companies would just switch over to a cheaper provider once their WeWork lease comes up.
The business model, at its core, is a fine one. But it's one that's already out there, working fine in a slow, normal, boring way for companies like Regus. I've used Regus spaces, they're fine. They're not cool, trendy startup collab spaces with beanbags and baristas, but AFAICT they are actually more conducive to real grown-up business use.
Maybe there is a market for a more startup-focused temporary office space business. But it's not one that's going to shake the foundations of the world, nor bring in 100x the investment for VCs.