Fuck you bud, our unit was more productive remote and we had the metrics to prove it.
Unfortunately, data doesn’t trump tiny minds who need to manage people in person, or obviate the type of bullshit rumors billionaires and those invested in commercial real estate tend to peddle.
Oh hey, look, another bag holder claiming that the contents of their bag are super important!
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Fortune and Bloomberg ran this story. It’s collusion. Bunch of old rich friends and neighbors pumping each others profits.
How would he even know? Did he run some comparative numbers between employees working from home and those that didn’t during the same time period? Or is he just making shit up?
The answer will shock you!
Our company posted record profits with everyone working from home. Maybe your guys just weren’t working smarter, not harder.
Listen, all I am saying is that if all the billionaires disappeared over night, if you avoided mass communication media you would probably not know. If you took that same amount of collective wealth from the bottom up human society would collapse.
Another person that needs to “factory reset his life” and “start a new file” like the rest of us, without money and connections.
New game minus.
the reality is that if companies have remote employees, they dont need commercial real estate. if companies dont need commercial real estate, a GIANT BUBBLE that will dwarf the subprime fuckups in 2008 happens & tens of billions of dollars in commercial real estate will rapidly lose value. anyone holding that property will see their assets plummet like someone jumping out of the 70th floor of a Wall St building.
if anything, the pandemic taught us that 90%+ of employees who could work in an office downtown (or wherever) can work just as well at home. Schwarzman’s ass is on the line.
OR . . . OR they can convert them to luxury living spaces in the heart of the city for beaucoups de bux.
But fantastically stupid comments like the real estate magnate is making here in the article will be the kicking and screaming before that happens.
you’re not wrong, they totally could - but not at a profit margin the board/stockholders will accept. really glad I dont have any investments in commercial real estate.
Converting a commercial building to residential use isn’t that easy. For one the plumbing is very different for commercial use and not easily converted for residential. Either way this billionaire can get bent, remote work is better in every measurable way.
Ssssssssshhhhhhhhhhhhhhocking!
Feck off.
Harder to trick employees to do the work of two other employees in remote format.
Past time to eat…
Even assuming that what he claim is true and can back with evidence, he would need to go further and show that loss of productivity caused by remote working is massive enough to: offset cost of borrowing commercial real estate (Or much larger real estate with corresponding maintenance bill in case on-site location is need for other reason), paying employee transportation, giving up remote talent, etc.
It is entirely his fault for not preparing for the time where people will actually bring out calculator when there was moon-sized sign post for several years.
Fucking right. And I would love to inform him we’re still not at even 80% now.
