WeWork's August 24, 2019 SEC filing states that the company faces substantial risk in the event of an economic downturn: "...we have yet to experience a global economic downturn since founding our business", and "an economic downturn or subsequent declines in market rents may result in increased member terminations and could adversely affect our results of operations",[96] because the company has $47 billion of future lease obligations and only $4 billion of future lease commitments.[97]