SoftBank to Have ‘Last Laugh’ on WeWork Deal, Bernstein Says
- WeWork can be lucrative with the right business plan, it says
- The shared-office startup’s implosion damaged Masa Son’s rep
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SoftBank Group Corp.’s massive investment in WeWork triggered a multi-billion-dollar writedown and a rare apology from founder Masayoshi Son. But one analyst argues the deal is likely to work in the end and SoftBank will have the “last laugh.”
Chris Lane of Sanford C. Bernstein says WeWork can have a bright future if SoftBank overhauls the business plan and more carefully focuses on the evolution of the corporate office market. He likens WeWork’s business model to Starbucks’s, where branding, consistency and global scale give it an advantage over the competition.