Is wework a fraud? interestsing article
https://medium.com/@henry.hawksberry/is-we-work-a-fraud-5b78987d3e61
Medium
Community adjusted EBITDA is abandoned. Also, actual EBITDA can be calculated based on S-1 numbers
“No, we believe.” — Adam Neumann
Fraud, but if they get away with it, smart
Best article I’ve read recently
Not until the corporate real estate market crashes, which it should any day now.
The CRE market is situated much better than it was prior to the last recession. Most of us in the industry are holding a pretty decent cash on hand to debt ratio to stave off the hit of predicted Q1 2020 market easing. That said the next recession will likely hit the coworking scene hard since most tenants are smaller organizations (with less ability to withstand a recession) are on month to month leases whereas wework types are lease locked for 5-10 years. The lease arbitrage model is a failing idea, in order to survive, coworking operations need to begin purchasing their own properties and leasing out so they at least have collateral they can sell off when the market does turn and to your point, it will.
Excellent piece.
Why's that even a question? I'd use there service for sure, but I'd not invest in the company. It's mainly funneling investor cash to founder's pocket.
Any a-hole can write an article on medium. Im starting to hate it.
Pretty accurate artivle
Yep