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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The pandemic has made people very selfish. Using the reasoning in this thread, one could question almost any public/social expenditure. Why should old people pay taxes for your kid’s education? Why should today’s workers fund Social Security for old people? Why should US taxpayers pay for the defense of Ukraine? I hope people on this thread realize that their isolationist arguments are at the core of social disintegration. They may think that they’ve isolated themselves in a larger home in the distant suburbs, working from home visiting the local deli, but their retirement funds are still in the stock market and their neighborhood isn’t that far from a decaying city. We’re all more interconnected than most seem to realize. [/quote]

Lol. The selfish thing is forcing middle-class workers to waste 1-2 hrs of their day commuting to save the giant corporate interests of commercial real estate. It’s just not a tenable moral claim, I’m sorry. [/quote]

You are myopically focused on CRE interests. You need to think a little larger.

Apple owns its own headquarters, not a CRE company. It is also a tech savvy company. Yet, it still wants its workers in the office. Explain that to yourself. [/quote]

High tech person here from the valley. This is way oversimplifying a complex situation. Google and Apple aren’t CRE, not the way you think of landlords. But they were facing severe writedowns on the empty buildings. They can’t take millions in hits from holding unused, depreciating assets. They also want a market to sell property into. And they lease property. Google in particular has spent hundreds of millions of dollars in purchasing commercial real estate around the world, but particularly in places like NY and Silicon Valley. They were facing a critical issue if those became unused assets, the hit to their bottom line would be enormous.

I know many, many people who work at one of the FAANG companies. The [i]only[/i] people I know who are in the office five days a week, fulltime are people who work in hardware labs or other jobs requiring onsite machinery. Everyone else is either fully remote or some form of hybrid. It’s not the case that everyone is back in the office 9-5.

BigTech is struggling with the same issue that the feds seem to be struggling with: if you use RTO to make up for weak performance management skills for poor performers, you risk alienating your high performers, especially now that the job market here is picking back up. So they do this form of RTO where people badge in twice a week (for instance) but look the other way as to when exactly their high performers leave.

The number of recruiting emails I get has really kicked up in the past few months and they all promise hybrid flexibility up front. So, I don’t think full RTO is really going to be a sell for companies.

Anyhow it’s complicated but certainly not as straightforward as you indicated. [/quote]

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