WeWork has 528 locations in 111 cities in 29 countries as of June 2019. Before its valuation collapsed from 48 billion to 20 billion during the past month, it had identified 280 additional cities as targets. In 2018 it lost 1.6 billion and the first six months of 2019 it lost $690 million. “Landlords have…Read More→

I recently attended a presentation on Cybersecurity and Smart Buildings, and I was blown away by the many potential benefits (and one major concern) in this emerging industry. The experts giving the presentation included executive David Colby from Schneider Electric SE (a $29B Fortune 500 multi-national manufacturer of HVAC and IoT hardware); a cybersecurity expert,…Read More→

“Facebook CEO Mark Zuckerberg said during a publicly broadcast Q & A with employees that his company is looking elsewhere for growth because of the Bay Area’s housing and traffic issues. The infrastructure here is really tapped. Housing prices are way up. Traffic is bad.” “Facebook’s largest locations outside of the Bay Area are Seattle,…Read More→

A very interesting article by John McNellis, Principal at McNellis Partners, and a sometimes astute contrarian, on WeWork. The shared office company leases 14 million square feet of office space, is reportedly valued at $20 billion, has 220,000 “subtenants”, and needs a 60% occupancy to break even. They lost $934 million last year, and just…Read More→