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Open Offices Are a Capitalist Dead End

What was We thinking? Thatโ€™s the only question worth asking now about the clowncar start-up known as The We Company, the money-burning, co-working behemoth whose best-known brand is WeWork. Whatโ€™s a WeWork? What WeWork works on is work. The We Company takes out long-term leases on in-demand office buildings in more than 100 cities across the globe (lately, itโ€™s even been buying its own buildings). Then We redesigns, furnishes and variously modularizes the digs, aiming to profitably sublease small and large chunks of office space to start-ups and even big companies. Well, profitable in theory: The We Company lost $1.7 billion last year.

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