What Will Become Of WeWork?

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What's going on in the world of work? ??:

??WeWork’s latest credit downgrade from Fitch Ratings drops it to CC, aka worse-than-junk status.?This comes alongside a public statement from WeWork that the company’s ability to continue operating over the next year hinges on improving its liquidity, which is currently dwindling. Read Full Digest??

?? McKinsey and Company, one of the world’s largest consulting firms, has unveiled its own generative AI tool called: Lilli. The chat application is designed for use by the firm’s employees and offers information, insights, data, and plans for consulting projects. Read Full Digest ??

??? Pennsylvania State Representative G. Roni Green (D-Philadelphia) is proposing a bill to reduce the standard workweek for businesses with more than 500 employees — from 40 hours to 32 hours. Read Full Digest ??

In Numbers We Trust 1??2??3??

????New Future of Work Podcast episode with Joshua Michael Jahani ,?Managing Director of Jahani and Associates out now!

What Will Become Of WeWork?

After bankruptcy is filed, who might step in to buy WeWork, and why would they bother? By Jonathan Price

• WeWork will likely enter Chapter 11 bankruptcy during Q4 this year, if not before.?
• WeWork has huge name recognition, and that, alongside its 500 odd coworking centers, constitute a potentially valuable asset for the right buyer.?
• I would strongly advise against any real estate firm trying to do it without an operator, because as much as they may think they understand the coworking business, their track record is short and undistinguished in this sector.?

“Never make predictions, especially about the future.” is a saying attributed to the famous film producer, Sam Goldwyn. Despite those wise words, I shall venture an opinion, if not exactly a prediction, that WeWork will enter Chapter 11 bankruptcy during Q4 this year, if not before.??

Assuming that proves to be correct, what happens next is an interesting question to speculate about. I do not for a moment think that the business and the name will disappear, despite the criticism of the business model which has recently appeared in major publications like Fortune and the Financial Times, that really ought to know better.?

Thanks to the antics of its founder, Adam Neumann and his wife, publicized in the excellent AppleTV documentary, “WeCrashed,” WeWork has huge name recognition, and that, alongside its 500 odd coworking centers, constitute a potentially valuable asset for the right buyer.??

Who might that right buyer be??

Read The Full Article ??

Is Home Coworking A Passing Trend Or The Future Workplace?

Similar to the school trend of having a “study buddy,” home coworking is a concept that has gained popularity in recent years. By Emma Ascott

• Home coworking is the practice of sharing a workspace with other professionals, often from different companies or industries, within a home setting.??
• This arrangement allows individuals to enjoy the benefits of a professional office environment while still maintaining the comfort and convenience of working from home.?
• On the other hand, those who enjoy a lively office culture and networking opportunities may find coworking centers more appealing.?

Read The Full Article ??

Meme ??

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