But that doesn’t prevent small companies to just take the risk. And by doing so, they are as efficient as WeWork and compete on the same level. What counts is the product and that is the same from the small and big company.
In fact small firms may be more efficient. If they make a bad bet on some real estate they fold while WeWork has to spread that cost to all of its users and keep on moving.
More efficient but less likely to exist next year is not a sustainable niche.
They only have to get a few bets right and ride that train for decades. Not everyone has venture capitalist investors.