WeWork plans to file for bankruptcy as early as next week, source says
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Re: WeWork plans to file for bankruptcy as early as next week, source says
#2big 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.
Re: WeWork plans to file for bankruptcy as early as next week, source says
#3big 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 buildings and it'll continue existing
Re: WeWork plans to file for bankruptcy as early as next week, source says
#4It seems I need to find a new place to work, so sad.
Re: WeWork plans to file for bankruptcy as early as next week, source says
#5big 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.
Regus / Spaces (the "hipper" version of Regus, same parent company) existed long before WeWork. They're not as nice because they're run as an actual business but they do exist around the world and are perfectly fine places to get work done.
Re: WeWork plans to file for bankruptcy as early as next week, source says
#6Pretty 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 travelling for a single weekend, I could go visit a friend in Paris, or Mexico City, or back home, or wherever. During the week when people worked, I would work out of a WeWork. Come 4-5pm, I'd go hangout with the people I wanted to see. Suddenly a long-weekend trip could be feasibly expanded to a week or longer without much hassle.
Re: WeWork plans to file for bankruptcy as early as next week, source says
#7big 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.
I won’t be sad to see them go. They were the most arrogant company I ever had the misfortune of dealing with (particularly for such a subpar product). If they treated their other customers like they treated me it’s no surprise they’re going bankrupt.
Re: WeWork plans to file for bankruptcy as early as next week, source says
#8big 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.
WeWork's innovation was "doing exactly that with vc money"
Re: WeWork plans to file for bankruptcy as early as next week, source says
#9big 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…
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.
Re: WeWork plans to file for bankruptcy as early as next week, source says
#10big 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.
It's unlikely to go into liquidation and actually shut down.
This bankruptcy is about renegotiating and possibly exiting leases where they're not making money, and pushing that loss onto the building owners instead.
There will be fewer WeWork locations, but the company will still exist.