Open Offices Are a Capitalist Dead End

The New York Times 2019-10-15

What was We thinking? That’s the only question worth asking now about the clowncar start-up known as The We Company, the money-burning, co-working behemoth whose best-known brand is WeWork. What’s a WeWork? What WeWork works on is work. The We Company takes out long-term leases on in-demand office buildings in more than 100 cities across the globe (lately, it’s even been buying its own buildings). Then We redesigns, furnishes and variously modularizes the digs, aiming to profitably sublease small and large chunks of office space to start-ups and even big companies. Well, profitable in theory: The We Company lost $1.7 billion last year.