Winners and losers of WeWork`s bailout


Winners and losers of WeWork`s bailout


Four years ago public-relations executive Gillian Small set up shop at a WeWork near Penn Station, in a 40-square-foot office with a table that folded up into the wall. Tenants were offered painting classes, free breakfast on Mondays, tacos on Thursdays, and on Friday nights Small and her husband enjoyed free draft beer in the common area.

“It was like having a date without going out,” she said.

Best of all was the price, an oh-so-right $750 a month, although Small paid that amount only three times during her five-month stay thanks to a 20% introductory discount. WeWork didn’t even mind if she brought her Cavalier King Charles spaniel, Clover, to the office...

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RSK: Well Neumann, the founder, is a definite winner here. As Bob Dylan once said: "there’s no success like failure." SoftBank is the loser along with a few Landlords.

Ken Notes: Remember Co-working was not the problem, the house of cards was. Ithers have been doing this right for decades and have great products that cash flow.

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- - Volume: 7 - WEEK: 44 Date: 10/29/2019 7:06:24 AM -