True, but at least the companies you mentioned did something new in their respective industries. What, exactly, has WeWork done that is innovative, aside from putting a trendy face on office rental?
WeWorks innovation is coming up with an office rental "product" that has high demand not being met by the market. Most property owners want long term leases because vacancies cost them money. Most freelancers and small businesses want short term, month-to-month, fully furnished office spaces.
I think they're overvalued, and they'll be in trouble if a recession hits. But coworking spaces do fill a need in the real estate market, one that's likely to grow, and WeWork is the market leader.
