Santora’s candid keynote at the GWA Conference highlights what every coworking professional must know to navigate the flexible workspace market in 2025.
Article originally published on Allwork.space.
At this year’s Global Workspace Association (GWA) Conference, John Santora, CEO of WeWork, took the stage before hundreds of operators, landlords, and real-estate executives to deliver one of his most candid talks yet — and Allwork.Space, the official media partner of the event and the industry’s go-to source for future-of-work insights, was there to capture it firsthand.
His message hit hard: “We’re not taking down the space as an industry fast enough to meet the demand.”
That warning sums up the state of the flexible workspace market in 2025.
Corporate real-estate portfolios are rapidly evolving from the old own-or-lease binary toward a three-way choice: own, lease, or flex. According to recent analyses, as much as 20 – 30% of corporate office portfolios are projected to become flexible by 2030. Yet flex still accounts for less than 3 – 4% of total global office stock today, leaving a wide gap between demand and available supply (Governing, CBRE 2025 Flex Report).
WeWork’s own history mirrors that tension between scale and sustainability. Once valued at nearly $47 billion, the company filed for Chapter 11 bankruptcy in late 2023, reporting more than $18 billion in liabilities (Reuters).
But under Santora’s leadership — he joined as CEO in 2024 — WeWork has re-emerged with a sharper focus on real-estate fundamentals, profitability, and credibility with landlords. As he told Time magazine earlier this year, “WeWork today is about discipline, profitability, and trust” (Time).
For coworking operators and commercial real-estate professionals, Santora’s remarks at GWA weren’t just reflections on WeWork’s future — they were a roadmap for the entire industry’s next phase.
John Santora’s Seven Most Powerful Insights From His Keynote Address
1. “The Industry Isn’t Moving Fast Enough.”
Corporate demand for flexible workspace is exploding — but operators aren’t keeping pace. Santora warned that the flex sector could fall behind if it doesn’t expand thoughtfully and quickly. The opportunity is massive; the execution must be measured.
2. “WeWork Was Never a Technology Company.”
After years of hype, Santora re-centered WeWork’s identity on what it truly is: a real-estate business built on operations and relationships, not apps and algorithms. His honesty resonated with operators who’ve learned that service, profitability, and community beat buzzwords every time.
3. “Every Deal Needs to Show Profits.”
For Santora, profitability isn’t an afterthought — it’s the business model. Each lease, partnership, or expansion must prove financial value. Independent operators can apply the same discipline: grow where there’s proven demand, not wishful thinking.
4. “You Need to Be Sure You Can Fill Your Space.”
It’s the most practical advice of all. Before signing new leases or adding locations, Santora urged operators to validate demand. Occupancy and experience come first; scale comes second.
5. “We’re All Competitors — But We Can Still Collaborate.”
Santora highlighted a shift from rivalry to reciprocity. WeWork now partners with nearby operators to refer clients when space fills up — a model of healthy competition that strengthens the ecosystem.
Collaboration, he argued, is how the flex industry meets rising corporate demand.
6. “We Lost Some of the ‘WeWork-y’ — But We’ll Bring It Back.”
The company’s cultural spark dimmed during its turnaround, but Santora promised to revive it. His admission reflects what many operators feel: survival often requires discipline first, culture second — and then a deliberate return to community.
7. “Yardi Saved Us — and Tech Still Matters.”
While WeWork is no longer selling itself as a tech firm, Santora credited Yardi’s technology and backing with stabilizing the company. His message: technology isn’t the brand — it’s the infrastructure that helps you operate smarter, see your numbers clearly, and stay agile.
The Takeaway
Santora’s seven messages from the GWA stage aren’t just about WeWork’s comeback — they’re a mirror for the entire coworking world.
Flex is booming, but growth without discipline is a risk. Collaboration beats competition. And authenticity will always outlast hype.
Insights like these were shared exclusively at the 2025 GWA Conference, covered by Allwork.Space
