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WeWork office. Photo: MANDEL NGAN/AFP/Getty Images

WeWork has hired ex-Salesforce and AppDynamics exec Kendall Collins to oversee its technology it continues to grow its “Powered by We” business, through which it helps companies redesign and even manage their offices.

Why it matters: WeWork's business model has long been in question, especially as its valuation rose to $20 billion last year. The company has been diversifying its revenue streams by signing up large companies as multi-year customers, and now by offering services in their offices.

The company debuted Powered by We in early 2018 as an attempt to extend its brand beyond the walls of its own buildings, where businesses rent office space on a monthly basis.

  • The idea is for WeWork to use all that’s it’s learned about office design, in addition to its efficiency in construction, and apply it to these companies’ own offices. A customer can use WeWork just for its design help, or for the renovation, or even for help run the space once it’s done with office managers.
  • Currently there are no plans to only make WeWork’s tech tools (guest management software, spatial flow analytics, etc.) available to customers, though the company is still in the early days of this initiative, according to a spokesman.
  • Powered by We has 30 customers at the moment, including UBS, which is its biggest one so far.
  • More broadly, enterprise customers now make up 25% of WeWork’s members. From June 2017 to June 2018, it’s more than doubled.

The big picture: In a way, Powered by We seems to concede that WeWork’s original thesis that businesses no longer want to sign 10-year leases for an office and want flexibility, isn’t quite true for everyone. Instead, these companies prefer to control their own real estate, and WeWork wants to get them as customers by selling the “community” it claims is found inside its offices.

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Former FDA chief Rob Califf on the vaccine approval process

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Axios Re:Cap digs in with former FDA commissioner Rob Calif about the EUA process, the science and who should make the final call.

13 mins ago - Politics & Policy

The recovery needs rocket fuel

Data: BLS. Chart: Axios Visuals

Friday's deeply disappointing jobs report should light a fire under Congress, which has dithered despite signs the economy is struggling to kick back into gear.

Driving the news: President-elect Biden said Friday afternoon in Wilmington that he supports another round of $1,200 checks.

1 hour ago - Health

CDC: It's time for "universal face mask use"

Photo: Paul Hennessy/SOPA Images/LightRocket via Getty

The CDC is urging “universal face mask use” for the first time since the coronavirus pandemic began, citing recent case spikes as the U.S. has entered a phase of “high-level transmission” before winter officially begins.

Why it matters: Daily COVID-related deaths across the U.S. hit a new record on Wednesday. Face coverings have been shown to increase protection of the wearer and those around them, despite some Americans' reluctance to use them.