They’re not the only company in that space, just the flashiest. Their competitors are generally less insolvent but have worse UX. I wonder if Regus will put in a bid to buy WeWork out of bankruptcy?
My experience in Regus coworking spaces has been fairly awful. Disorganized, dirty, my desks were wobbly, never got the key to my storage drawers, etc. If they’re a big player and they purchase WeWork, I’d consider the entire space worth avoiding.
I experienced both positive and negative. When the on site staff was good, the experience was good. I think the model is sound but the key differentiator is operational excellence and hiring. This goes for any business though.
That and with WeWork running around with the hype there was probably investors/shareholders demanding that they take a piece of the supposedly juicy market (that existed because the ilk's of Regus never made short-term feasible).
In my experience, the best short term rentals are the local places that are priced competitively with WeWork. Second best is WeWork and the absolute dog shit is Regus. I used them for a short period and they liked putting you in what was essentially a living room with no tv, no tables, and church chairs as an afterthought. WeWork always had pretty comfortable digs idiotic CEO notwithstanding.
Regus might. Or they wait for liquidation and pick the juciest bits. WeWork is such a prime example of how VC money can fuck up everything, Regus did well but a lot of other companies in other industries competing with VC backed companies didn't survive while millions were burned selling dollars for dimes.
> I wonder if Regus will put in a bid to buy WeWork out of bankruptcy?
Seems like it would be a bad move unless they can shed all of WeWork's unprofitable leases. What assets does WeWork have that are worth buying? The name? The app?