In any case, I addressed their staggering competitive advantage in my original post. They can build space in one-half the time at 60% of the cost because they have a 2,000 person multidisciplinary product team made up of architects, engineers, interior designers, developers, and contractors. They've integrated the value chain like Amazon has in online retail.
They're disrupting the industrial complex of lawyers, lenders, brokers, and landlords who surround the Kafkaesque, traditional, 10-year office lease.
WeWork is not even close to overexpanding. Coworking is less than 2% of the 10 billion square foot US office market. It's going to 30% or beyond. They haven't even hit the vertical part of the S-curve.
Remember, coworking may have started with individuals like you, but now the much larger source of demand is enterprise. With actual companies WeWork and coworking are substitutes to a painful, limited-service, long-term lease.