The good folks at WeWork are predicting that they will be profitable by 2021.

Given the fact that they no longer have a nearly unlimited access to capital, and that there are already dozens, of companies providing exactly the same service, and they think that somehow or other they are going to be fabulously profitable.

They are just looking for their next bunch of marks to fleece:

WeWork is on track to have positive cash flow in 2021, a year ahead of schedule, after it cut its workforce by more than 8,000 people, renegotiated leases and sold off assets, its executive chairman said.

Marcelo Claure said in an interview that the SoftBank-backed office space provider had seen strong demand for its flexible work spaces since the start of the coronavirus pandemic.

In February, Mr Claure set a target of reaching operating profitability by the end of next year and he said WeWork remains on track to meet it.

The New York-based company, which aborted its hotly anticipated initial public offering last year, has moved aggressively to reduce its cash burn and shed costs. It has slashed its workforce from a high of 14,000 last year to 5,600 people, a figure that has not been previously disclosed.

“Everybody thought WeWork was mission impossible. [That we had] zero chance. And now, a year from now, you are going to see WeWork to basically be a profitable venture with an incredible diversity of assets,” said Mr Claure.

Seriously, why haven’t there been prosecutions over that sh%$?

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