Reply to Will NYC still be the financial capital of the country?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Work at home will not last forever for everyone. [/quote]

It will for many in financial services industry (and other service based office industries like accounting and legal). There’s zero need for a fund manager to be physically located in a specific location. They only need reliable, high speed internet. And the real estate these companies select is the highest premium locations. Why pay that rent if you don’t have to and the benefit is an immediate uptick to the bottom line? They won’t go 100% virtual, but at least 1/2. [/quote]

There is something to be said about in-person collaboration and debate. For example, portfolio management. Most investment strategies don’t happen with one guy sitting in a room all by himself. A person pitches the idea to other colleagues, gets challenged, refines their strategy, models the strategy, pitches to the Investment Committee, etc.

Can you do all of this over Zoom? I guess. But it’s not organic and spontaneous. Zoom isn’t great for collaborative banter.

Finance is still relationship driven. It’s hard to start new relationships over Zoom.[/quote]

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