Does anyone else think that WeWork, as a concept, still has potential? WFH has a lot of benefits for the employee, but it's clear that many employers still desire some face-to-face contact. WeWork was already going downhill pre-pandemic, but had it survived I wonder if it may have been the primary service for small/hybrid companies.
I am aware that WW had it's own business issues to deal with, but it's still salvageable, right?
If, by the concept, you mean coworking spaces, then yes, that concept can and does work.
If you mean coworking spaces administered by people in SF making tech salaries and needing the growth and scale that VC demands, then it seems unlikely. In my hometown, the coworking space costs $140/mo right in downtown (220 with a dedicated desk). Anything that can operate locally is probably going to beat the dumb money that We Work represents.
I think providing employees with office hubs to work at within 10-20 minutes of their house will be available as a perk or benefit - instead of paying for an office.
At the start of the pandemic I looked at a new co-working space and it was like $200/mo membership fee for the open space or $500/mo for a tiny private office/closet.
Meanwhile, my apartment (paid for), a large library (free), and several cafes (~$3 daily contract) are a block away. It just doesn't make economic sense at those rates.
Co-working spaces are useful when an extra bedroom would cost you $500/mo (or much more) anyway.
Libraries where I live have limited seating. Cafes can be really hit or miss in terms of power outlets, large enough desk space, and noise. Both don't have 24/7 access, nor do they allow you to set up a workstation with monitors.
They are not worthwhile if you have ample space in your home and only desire to get out a few hours a week to a cafe.
I am aware that WW had it's own business issues to deal with, but it's still salvageable, right?