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WeWork plans to file for bankruptcy as early as next week, source says

reuters.com

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Re: WeWork plans to file for bankruptcy as early as next week, source says

#11

Post by EwanToo »

gav wrote: post #9
VirusNewbie wrote: post #3

Earlier quoted context omitted.

Buildings like WeWork have always existed. I remember being a teen and being shown the new 'office concept' in the early 2000s where you could just tap into an office buildings internet infrastructure so you didn't need to rent your own T1 lines, you'd get a phone system and fax machines and all that for one flat fee. If WeWork goes bankrupt, the investors will get wiped out but some other company will buy the buildi…

Regus has been around for a long time, I worked out of one of their offices in the mid-90s. The great thing was that shared office space was new to most people, so when clients would visit they'd be impressed with the fancy building, the marble reception, and the huge conference room, and not know we were a 2-person shop renting a 6'x8' office.

It says something about the past few years that large established companies started renting premium space in WeWork buildings so they could imagine that they were a 2 person shop renting a 6'x8' office!

Re: WeWork plans to file for bankruptcy as early as next week, source says

#13

Post by ssalka »

VirusNewbie wrote: post #3
ssalka wrote: post #2

big if true. IMO wework defined a whole era of startups / working in tech, offering a cool environment with the flexibility to grow, shrink, or change locations as needed. it was also a great place to have an office for networking purposes. even though it's had its fair share of controversy, I'd be sad to see wework shut down.

Buildings like WeWork have always existed. I remember being a teen and being shown the new 'office concept' in the early 2000s where you could just tap into an office buildings internet infrastructure so you didn't need to rent your own T1 lines, you'd get a phone system and fax machines and all that for one flat fee. If WeWork goes bankrupt, the investors will get wiped out but some other company will buy the buildi…

Good context to share. I'm on the younger side, so when I entered the work force I think basically WeWork popularized this concept beyond what it had been. At least, it was the first place to expose me to that kind of work environment, which previously I was unaware had existed.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#15

Post by fsckboy »

api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

cause of final death: killed "from Covid", not "with Covid".

I just want back the economy that could keep WeWork afloat.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#16

Post by JumpCrisscross »

api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

> hope someone picks up the pieces and keeps the company going

WeWork is considering filing for Chapter 11 protection. They're not going for liquidation.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#17

Post by hodgesrm »

fsckboy wrote: post #15
api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

cause of final death: killed "from Covid", not "with Covid". I just want back the economy that could keep WeWork afloat.

That would include low interest rates that made funding WeWork plausible/possible. That's probably not coming back for a while.

Re: WeWork plans to file for bankruptcy as early as next week, source says

#18

Post by tharkun__ »

fsckboy wrote: post #15
api_or_ipa wrote: post #6

Pretty sad. I hope someone picks up the pieces and keeps the company going. Say what you will about the company and it's leadership, but WeWork as a service was splendid. Yes, there's lots of other short-term office providers, but I never found a competitor that executed on the vision of a world-wide lattice of places from which to work. Having a place to work vastly opened up my vacation cycles. Instead of travellin…

cause of final death: killed "from Covid", not "with Covid". I just want back the economy that could keep WeWork afloat.

You want mandatory return to office? Really?

Re: WeWork plans to file for bankruptcy as early as next week, source says

#20

Post by mkwarman »

tharkun__ wrote: post #18
fsckboy wrote: post #15

Earlier quoted context omitted.

cause of final death: killed "from Covid", not "with Covid". I just want back the economy that could keep WeWork afloat.

You want mandatory return to office? Really?

I think it's likely they were literally referring to the economy rather than return to office, considering WeWork stands only to lose when employees work from their employer's office
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