Summary of How WeWork Has Perfectly Captured the Millennial Id

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

How WeWork Has Perfectly Captured the Millennial Id summary
Start getting smarter:
or see our plans

Rating

8 Overall

7 Applicability

8 Innovation

9 Style


Recommendation

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.


More on this topic

Customers who read this summary also read

Meet the Unknown Immigrant Billionaire Betting Her Fortune to Take On Musk in Space
7
Traditional Work Isn’t Working
7
Hyper Vision
8
A New Paradigm for Corporate Training
8
How to Be a Manager
7
The Complete Guide to Working on a Remote Team
8

Related Channels

Comment on this summary