Office-sharing company WeWork which was once worth $47 billion has just filed for bankruptcy.

It is a noteworthy story because it reveals how bad things are in the commercial real estate sector. WeWork is just an extreme example of the commercial real estate disaster because their business model revolved around acquiring/leasing commercial office spaces and then subleasing access to those same spaces at extreme premiums.

This hoax pandemic and the lockdowns made this business model totally unviable. Companies were mostly forced to operate remotely and even if an organization wanted to leverage a shared office space like WeWork, the practice became difficult if not impossible during the height of the scamdemic.

The corporate office space is an outdated concept any way. It was already outdated back in the 2000s but the boomers in charge of all these companies refused to take full advantage of the Internet. Even now these same boomers are unnecessarily pushing hybrid work and other stupidity to justify all of this unnecessary office space they’re stuck with.

It is also worth noting that the company was co-founded by an Israeli Jew named Adam Neumann who walked away with $1.7 billion from its IPO. Just based on this alone, one can only imagine how much fuckery was going on with this operation.

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