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Abadesi

POLL: Will WeWork's decline negatively impact the entire co-working space?

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Hustle Crew Academy
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The decline of WeWork following the failed IPO attempt is making many of us makers and remote workers doubt the future of co-working. I'm personally still bullish about the future of co-working because I see the way we work changing a lot over the coming decades. Specifically I see employers embracing flexible working and doing what it takes to hire and recruit the best talent -- regardless of their location or personal circumstances. What do you think?
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Lydia Sugarman
I think you have to define "impact the space" first. Next, does this startup failure go beyond this vertical?
Abadesi
@lksugarman it's a broad question asking if it will have a negative impact on the co working market, I've loved reading everyone contributions so far
Lydia Sugarman
@abadesi I think we're already hearing how the WeWork failure will go beyond this vertical. VCs and many others are talking about the need for re-evaluating the value of startups. Maybe actually basing it on revenue, debt, real growth! Borrowing money against a promise and then, valuing that company positively valuing that company against what is essentially debt is...crazy. It makes no sense, at least not in the real world where most businesses function. In the early days of WeWork when I learned what their model was, I questioned the potential for longevity. The original idea of long-term leases of under-utilized office space sounds good. It's nothing new. What transpired after was nothing short of stupid and greedy and...no one provided any check and balances. Competitors, like Regus, will continue long after WeWork is no more, putting thousands out of work.
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