Saying that WeWork is just another coworking space is like saying Starbucks was just another coffeehouse. The environment is more hip hotel lobby than ho-hum open plan, and it offers its members favorable rates on services such as payroll and health insurance—and, in New York, bento box lunches from Momofuku. “You’re not a small business by yourself anymore,” says CEO Adam Neumann, trying to capture WeWork’s appeal. “You’re part of a large group of people who all feel like they are part of something.” And WeWork isn’t just for startups anymore: even big companies like Red Bull and J.Crew have stationed some of their employees in WeWork locations. Like Ace before it, the coworking network is helping to transform the neighborhoods it lands in, bringing an influx of talented and energetic young entrepreneurs, and elevating property values in the process.
[Photo: courtesy of WeWork]