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“ as a result of the Company’s losses and projected cash needs, combined with increased member churn and current liquidity levels, substantial doubt exists about the Company’s ability to continue as a going concern”

https://s23.q4cdn.com/100276410/files/doc_financials/2023/q2...

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My understanding of we work issues is that they didn't have a problem with their office not being awesome, that had a problem with 1. covid and remote working effectively punching their business in the face, and 2. the board letting the ceo/founder being the owner of the real estate that we work then rented from him, and the rates of renting being what he wanted.

softbank woke up one day realizing instead of owning a ton of real estate, all they had was renting contract, and that's worth a lot less.

If they played it right, they could be cleaning up all the discounted commercial RE

You know it's discounted for a reason, right?

Are downtown offices dead forever?

Yeah, it is a catch 22

What’s the reason?

Discounted RE is actually worth less. They don't drop prices when it's not selling, they give "discounts"

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