Matt Britton describes how WeWork lowered the barriers for entrepreneurs by offering inexpensive coworking desks (e.g., "$150" desks) that provide community and company-like culture. He argues this democratizes entrepreneurship—especially among young people who favor gig work over traditional full-time jobs—and that demand for WeWork spaces is high in major cities.
W stands for WeWork. Another huge kind of barometer showing that people are staying in cities. When I started my first agency, mry, I was working out of my bedroom and when somebody called, I'd be like, mry, nobody's Matt there. I'm like, one moment, please. And I grabbed the phone, right? Because it was just me, right? I didn't have a receptionist. If I had to meet, I had to meet in somebody else's office, right? I had to fake it till I made it. But with WeWork, you could spend $150 and you could have a desk next to somebody else who's a coder next to somebody else who's a designer. And you could have the culture and the benefits of a great hip company like Google and WeWork. You can't fill these fast enough in major cities because the notion of an entrepreneur with tools like crowdfunding has been democratized. And because of that, it's accessible to a lot of people. And this young generation isn't pursuing full time jobs, they're pursuing gigs. And WeWork is the perfect house for that.