Discussions » 🦃 Industrious front-row seat to the WeWork show (🔗 Visit source)
Anna Squires Levine shares how they'd answer all those "sooo WeWork?" questions from their extended family.
The summary? This has been coming for a long time, and no, we weren’t surprised. No, this doesn’t mean coworking is a goner. The sector is having a banner year. The Industrious business model is based almost entirely on landlord partnerships, which is totally different from WeWork’s model and is designed to de-risk our business for the long haul. To put it into perspective, WeWork’s fixed expenses as a percent of revenue are still about 75% even after reducing their debt. Ours are about 35%.