The Rise and Fall of WeWork: A Spectacular Crash
WeWork's bankruptcy marks the end of an era for enormous coworking spaces with luxurious amenities, according to Jamie Hodari, CEO of rival company Industrious. Hodari believes that the large office blocks and extravagant features were a major flaw in WeWork's strategy, contributing to its downfall. While many WeWork locations may change hands, the extremely large spaces are unlikely to be viable for other companies. The collapse of WeWork could have dire consequences for commercial real estate, but Hodari remains optimistic about the broader coworking industry.