WeWork is living dead, taking down and feasting on the flesh of the living. Their financials are so bad that there is no possibility of rescue, only the matter of the timing and details of end. Meanwhile the coworking space continues to be critical for an increasing fraction of the workforce. Those companies that actually live in this space by charging members fees that pay for the property and services required have a huge challenge competing with WeWork. It is a textbook case of venture capital doing terrible damage to an entire sector without actually contributing anything. The capital will be burned through and WeWork and other companies will die and then maybe we can start again for real. It is so frustrating.
