Leaked Zoom all-hands: CEO says employees must return to offices because they can’t be as innovative or get to know each other on Zoom::Zoom CEO Eric Yuan discussed the benefits of in-person work in a leaked meeting.
Leaked Zoom all-hands: CEO says employees must return to offices because they can’t be as innovative or get to know each other on Zoom::Zoom CEO Eric Yuan discussed the benefits of in-person work in a leaked meeting.
People keep bringing up real estate because everyone thinks the rich are evil and this move must be money related somehow.
Now, I too think they’re pretty rotten for the most part.
But returning to office is not about real estate.
Companies are ruthless and if they can increase profits at all, they will do pretty much anything to do so. Firing long-time workers, destroying the planet, etc. So if they had to destroy the real estate market to make more money, they would.
My point here is that if it was just about money, everyone would remain WFH. They could downsize the office, or even lease out the space to the companies that are returning to the office.
So then why are they doing it? It’s their preference. They prefer having their underlings in the building and enjoy seeing everyone from their corner office. They like feeling powerful which is harder to do when everyone who works for them is at home.
They might also have the kind of personality where they get more work done with others around, and they can’t imagine it being different for other people. Many high-up executives only got that far because they have very extroverted personalities.
Not everything a rich person does is strictly about money. Otherwise they wouldn’t buy mansions, supercars, private planes, etc. Apple wouldn’t have built the billion dollar donut office. They do these things because they’re powerful and want others to know.
Or, it’s a combination of numerous factors, including commercial real estate. There’s no one single explanation that fits for every company reverting WFH.
It’s not commercial real estate. There’s no reason for a CEO to care about real estate. This is just the reason given by people who believe all companies only ever do things for the money. So they’ve made up a reason they think fits.
It’s a combination of factors with real estate being a key I’ve. Don’t be so naive.
Why would a company care about the real estate market when it can make more money having its staff work from home? Have you ever seen a company care about something that doesn’t benefit them in the short term?