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Are we witnessing the death of the office?
Probably nothing quite that dramatic (yet), but it has been a wild few days. The dominos are falling at a torrid pace that frankly, I wasn’t expecting.
THREAD...
Probably nothing quite that dramatic (yet), but it has been a wild few days. The dominos are falling at a torrid pace that frankly, I wasn’t expecting.
THREAD...
1/ I've previously talked about remote work WRT small communities and mountain towns. I want to take a minute to talk about a few of the greater work and societal affects this could have as well. TLDR; it's complicated.
2/ Fewer people will leave cities than we think.
Many folks just like living in cities, *regardless of any downsides*.
Not everyone will upend their life just to live in a “tax haven”. People may not want to pick up and leave and build a new community somewhere else.
Many folks just like living in cities, *regardless of any downsides*.
Not everyone will upend their life just to live in a “tax haven”. People may not want to pick up and leave and build a new community somewhere else.
3/ Salaries will change to adjust for cost-of-living.
Facebook has already said this will happen as early as 2021, and I imagine @buffer's public salary calculator spreadsheet is getting record traffic right now.
I have no idea what "fair" looks like in this market.
Facebook has already said this will happen as early as 2021, and I imagine @buffer's public salary calculator spreadsheet is getting record traffic right now.
I have no idea what "fair" looks like in this market.
4/ We'll see a democratization of opportunity (hopefully).
Many of the potential opportunities in the tech sector have been limited to being in expensive places. Will remote worker migration + remote hiring contribute to a changing face of Middle America?
Many of the potential opportunities in the tech sector have been limited to being in expensive places. Will remote worker migration + remote hiring contribute to a changing face of Middle America?
5/ Places like SF & California could be in trouble (tax-wise).
SF's economy is propped up by massive tech salaries. What the pandemic doesn't kill (local economy-wise) could be significantly hurt by enough folks leaving for new pastures. Same for CA income tax revenue.
SF's economy is propped up by massive tech salaries. What the pandemic doesn't kill (local economy-wise) could be significantly hurt by enough folks leaving for new pastures. Same for CA income tax revenue.
6/ The shopping mall scenario.
Developers and architecture firms have struggled for years to fill the leases or or re-invent mall real-estate into mixed-use spaces.
A similar issue may arise as companies downsize their massive square footage in downtown areas.
Developers and architecture firms have struggled for years to fill the leases or or re-invent mall real-estate into mixed-use spaces.
A similar issue may arise as companies downsize their massive square footage in downtown areas.
7/ The backlash.
Full time WFH (like actually *at home*) has a ton of benefits, but also downsides -- mostly in the amount you work (more), the lack of personal/professional life separation, and isolation.
Full time WFH (like actually *at home*) has a ton of benefits, but also downsides -- mostly in the amount you work (more), the lack of personal/professional life separation, and isolation.
8/ Lack of in-person work interactions might lead to less camaraderie amongst teammates, resulting in less loyalty (easier to switch jobs when you have less emotional connection to co-workers), or a preference by management to promote employees that are *still in the office*.
9/ I’m still super bullish on remote. Been doing it for a long time. But also interested to see how companies adapt, how society changes, and what new companies/services arise to address some of these issues.
That's all for now. I write weekly on travel/tourism, remote trends and more. If you enjoyed, please share and join the fun by subscribing on @SubstackInc. Thanks for reading! https://hereandthere.substack.com/
