We Work was a coworking rental space company, for those who forgot.
The company was hyped to unbelievable heights. I remember having a client discussion, where I expressed concern about the lack of privacy, since my clients prefer their financial privacy, We Works would not work for all businesses.
I do see the value of an open structure and outside input, but there has to be balance.
The company had an estimated valuation at one point of $47 Billion.
It failed miserably.
WeWork had to pay long-term rent to building owners even when desks were empty. It spent more money than it made. You can’t run a business on this kind of model.
We Work still exist, I believe since 2023 it trades at $.15 or lower.