How Coworking Spaces Need to Evolve After the WeWork Disaster #Business

thenextweb.com
3 months ago
How Coworking Spaces Need to Evolve After the WeWork Disaster

2019 has been hell of a ride for the coworking industry. Alongside reports of unprecedented growth of flexible ‘coworking,’ we’ve also watched one of the biggest media furors unfold with our industry’s first mover, WeWork. Funny enough, I’ve been on parental leave since September with my second child, and in that time, WeWork pulled out of their IPO plans, changed leadership, announced job cuts, were bailed out, and at the time of writing this, they have reported a net loss of $1.25 billion in the third quarter of 2019. As pioneer in coworking, I get asked every week about whether our team saw it coming, whether we’re enjoying the decline of the sector’s most established player and whether this is the beginning of the end. But those conversations are so unhelpful. The news of pending job cuts means people’s livelihoods are on the line and the industry is going to lose good people…

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