Thanks for this. I've watched WeWork's rise with incredulity here in Israel. To be honest their rise perfectly matched a kind of frothy exuberance that marks the startup sector here. I have a not very nice looking 300 m² mixed warehouse and offices to the east of Tel Aviv in a less than salubrious part of a mixed industrial neighbourhood. It doesn't look nice but I'm pretty sure we're paying 25% of the cost of 2 desks in WeWork. You can buy an awful lot of "free" beer for that.

They did light a rocket under the serviced offices market, but once they did it, every other provider raised their game and I still have no idea how they can differentiate themselves.