WeWork was doomed to fail by taking on huge buildings, rival says

• WeWork was known for huge coworking spaces with amenities such as climbing walls and swimming pools.
• Jamie Hodari, the CEO of Industrious, said WeWork saddled the company with big liabilities.
• Once valued at $47 billion, WeWork has declared bankruptcy after years of financial difficulties.

WeWork’s collapse has ended the era of enormous coworking spaces filled with amenities including climbing walls, live DJs, and swimming pools, according to the boss of one of its main rivals.

Jamie Hodari, the CEO of Industrious, another flexible-workplace company, told Insider that while many WeWork locations will simply change hands following the company’s bankruptcy, the huge office blocks with luxurious amenities will become a thing of the past — and the cost of renting them likely contributed to the company’s downfall.