WeWorks business model is easy to clone. It also has no advantage of scale. In my city there are many mom-and-pop coworking spaces that easily compete with WeWork.
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That's not entirely true. Having a national presence can pay off in terms of being able to sign deals with larger clients.
That's true, but WeWork also competes with national office space companies (Regus, Premier) -- so national presence is not exactly a unique competitive differentiator.