Meanwhile, potential clients walk into the common area, hear the indie rock and think we're this super high-end, hip, "urban" company filled with creative young people. The reality is that we only step out into the kitchen and ping pong tables when we get bored. We have the option to retreat to our sanctuary any time. It's incredible. Tell me a better solution! There is none!
But as this backlash indicates, the hot desks are the big scam -- essentially younger, non-salaried individuals who are essentially paying for the privilege of providing atmosphere and brand for us, the private suite tenants.
Wework gets the valuation, i'm guessing, because in addition to the typical rental income from the private offices (albeit, these aren't long term leases, but with scale, they don't have to worry about that), they are collecting $500/mo from the hot desks in the lobby area, an area that would normally sit empty. Wow! what a business model. Bravo Wework.