misk@sopuli.xyz to Business@lemmy.worldEnglish · 7 days agoWhy are tech companies really heading back to the office?www.theverge.comexternal-linkmessage-square1fedilinkarrow-up11arrow-down10
arrow-up11arrow-down1external-linkWhy are tech companies really heading back to the office?www.theverge.commisk@sopuli.xyz to Business@lemmy.worldEnglish · 7 days agomessage-square1fedilink
minus-squarezante@slrpnk.netlinkfedilinkEnglisharrow-up2·7 days agoI wrote 2 or 3 years ago, but it’s worth re stating : The banks have explained to government who have explained to CEOs about the risk of a the real estate market collapsing. Very simply : No one needs offices any more everyone sells them oversupply! price goes down, bigly lots mortgages underwater, commercial real estate collapse banks lose lots of money, but wait ! Worker don’t need to live near office sell apartments, move to the country over supply ! Price go down , repeat above Banks are rinsed, full on crises a la 2008 I guarantee you 💯 every CEO would love to remove facilities costs from their balance sheet and put that money in their pocket. But they’ve had a tap on the shoulder. Remembered , Many of these companies built and sold the tools for remote work 🤪
I wrote 2 or 3 years ago, but it’s worth re stating :
The banks have explained to government who have explained to CEOs about the risk of a the real estate market collapsing.
Very simply :
I guarantee you 💯 every CEO would love to remove facilities costs from their balance sheet and put that money in their pocket.
But they’ve had a tap on the shoulder.
Remembered , Many of these companies built and sold the tools for remote work 🤪