Their business model is not complicated. They arbitrage office space. Office space is expensive to rent (operationally), takes a long time to find a tenant, and there's a lot of different kinds of leases (short/long term) and most office management companies are not equipped to deal with 100s of tenants in a single space. Similarly there's lots of pain points when you're the trnter, in terms of finding the space which can be time consuming, deposits, contract negotiations, needing to setup utilities (esp internet).

Wework opertionalizes all of things putting them in position of being able to arbitrage this disconnect in the market.