Summary of How WeWork Has Perfectly Captured the Millennial Id

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How WeWork Has Perfectly Captured the Millennial Id summary
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Cucumber water, craft beer and hopefully a decent kombucha fountain – these are the accoutrements of the millennial workplace. Throw in a good shuffleboard table, and you’ve apparently got a $20 billion start-up combination. But is WeWork really worth that $20 billion? Laura Bliss, who works at a WeWork co-working location for The Atlantic, explores the ins and outs of the world’s sixth-most valuable start-up. getAbstract recommends her analysis to investors, start-up founders and freelancers.

In this summary, you will learn

  • Why independent workers and employees of large corporations are spending time in WeWork spaces,
  • Why an economic downturn might pummel WeWork’s strategy,
  • How WeWork intends to succeed into the future.
 

About the Author

Laura Bliss writes about transportation, infrastructure and the environment for The Atlantic‘s stand-alone website CityLab.com.

 

Summary

Boasting 175,000 members and 270 locations in 20 countries, and perhaps more importantly, $4.4 billion in its latest round of funding, WeWork is a co-working office space provider that has plugged into the millennial identity. It is unclear whether it has staying power or whether it will go the way of Regus – a 1990s flexible workspace provider sent into bankruptcy protection by the dotcom crash. WeWork has signed expensive long-term leases on the expectation that it will be able to sell desk space at a premium. However, another economic downturn could kill demand and obliterate its classic lease-arbitrage strategy. The type of financial meltdown that could one day bury WeWork is currently fueling the company. Organizations reduced their numbers of full-time employees after the 2008 crisis, leading to a rise in independent workers and freelancers who might crave the camaraderie of co-working spaces. In theory, such camaraderie inspires innovation by gathering creative people in one place and opportunistic meetings lead to new collaborations, whether those meetings take place at sponsor-planned events or around the water cooler.


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