But WeWork's biggest problem is its ties to long-term leases. According to its prospectus, the company had $22 billion in long-term liabilities as of June 30, with $17.9 billion in long-term leases. WeWork admitted that the length of the leases "extend for periods that significantly exceed the length of our membership agreements with our members, which may be terminated by our members upon as little notice as one calendar month."