As Market Wobbles, Rivals Take Aim At 'Magic Money' WeWork

After WeWork detailed the most complete picture to date of its corporate finances last week, the leaders of some of its main competitors wanted to make a strong point: We are different.

“It’s important to make sure that we’re not painted with the same brush, that others aren’t painted with the same brush,” said John Arenas, the CEO of coworking provider Serendipity Labs. “If you’re not funded by magic money, you have to make money to stay in it. That’s what the rest of us do.”