Coworking is back

It has become increasingly favorable thanks to several macro factors:

• The proliferation of vaccines has made the return to the office feel safer
• Many workers want to get back to the office, and their companies are looking to fulfill hybrid work environments while still offering flexibility
• Startups facing an uncertain funding environment — the new normal these days — favor short-term leases,

• A recent Pew Research study found that 59% of workers who can work remotely want to stay remote, meaning coworking spaces won’t be much of an attraction for them.
• Coworking spaces are also at risk for security issues. In 2019, WeWork was found to have weak WiFi security, which exposed sensitive data on its network.
• Even so, some analysts predict there will be ~42k coworking spaces globally in 2024, up 116% from 2020. If that’s the case, “WeCrashed” won’t be the end of WeWork’s story.