1.(on p. 26)Substantially all of our leases with our landlords are for terms that are significantly longer than the terms of our membership agreements with our members. The average length of the initial term of our U.S. leases is approximately 15 years, and our future undiscounted minimum lease cost payment obligations under signed operating and finance leases was $47.2billion as of June 30, 2019. What is the exposure of the company to the business cycle?2.On p. 72, look at the graph and the following explanation Why do we believe contribution margin is useful? Do you consider that omitting corporate G&A is a good practice?3. Do you think that cost of maintenance is important? Where can we find this expense?4.The former CEO, Neumann, saw WeWork as a technology company. Which peers do you think are the most relevant? For example, go to yahoo finance and compute the EBITDA margin for CWK (a large real estate company) or to other company that rely a lot on buildings (MAR).Which PE ratio is relevant for WeWork?5.According to Porter, which factors affect the profitability of a firm? (the discussion of why firms exists we leave for a coffee discussion) (hint: barriers of entry or exit, the power of clients or suppliers) What would be effect of these forces on the profitability of WeWork?

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