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WeWork CEO talks about the co-working company's latest new tenants: College students

September 15, 2020. Summarized by summa-bot.

A little more than a year ago, WeWork's parent company, The We Company, filed to take the co-working company public.

But he said businesses have started to come back as companies seek out space to meet social distancing requirements and provide a place for remote workers to go.

Financial institutions have come to us where they will want All Access and pay for 200 passes, and what that does is it effectively allows 200 people to use a WeWork whether in New York, London or anywhere in the world, and when the 201 person comes they can do one of two things: They can either say please limit to 200 people or if more than 200 people come they will pay us on a per diem basis.

I think that the reason for that is a lot of people who want to leave their homes to get a reprieve, would have gone to a Starbucks or coffee shop and that is closed for them.

Are you thinking about expanding into more suburban areas if people are looking to work closer to home?

We've tried this, by the way, a financial institution asked us to look for a location in Connecticut and Long Island, which we did and effectively they couldn't get a buy-in because people sat back and said: 'Why would I Ieave my wonderful home with all the amenities?' To go into an office where none of my colleagues are really going to be there because they are not in my same group.

All our common areas are completely de-densified with at least six feet of separation between people, even on our couches.

And actually it feels very safe when you come into the environment and people are very respectful.

Obviously, we kept all our locations open through the difficult months because we have a lot of essential services that people provide from our locations.

Our community people were in the office and barring that, we worked from home.

When New York City opened up we started rotating 25% of our people per week, and post-Labor Day, I wont say 100% of people are in, but a good 75% of the people are coming into the office.

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