FAANG are the best case scenario for your argument, with billion dollar real estate portfolios and more RTO-heavy. Just because this study reached a conclusion doesn’t mean that it’s the same conclusion other companies’ reach. Especially when those companies’ have their bottom line at stake, “skin in the game.”
Again, by what plausible incentive do you think non-FAANG companies, with tiny real estate assets, usually leases for a multi-billion company, would impact their productivity for tiny help in the overall real estate market?
I admit I was being a bit flippant. But there's a case to be made from the "same people owning all the companies" argument that the investors in all these tech companies are also invested in commercial real estate returns. So basically it's Larry Fink who wants you back in the office, and hey he owns your co so the board will listen to him (being flippant again here).
Larry Fink and BlackRock don’t own the 6% of Google managed by BlackRock index funds. Nor does Google or other co’s decide to make adverse decisions to their morale and productivity because of a very minority shareholder. What you’re describing is conspiracy theory.
Occam’s razor. These co’s came to the same conclusion co’s like OpenAI did, that in persons benefits outweighed the negatives. Only when the conclusions don’t agree with the preferences people like you have, that the cope, conspiracy, and rationalizing come out. Also, what may be good for the individual, doesn’t mean it’s good for the org.
FAANG as an amorphous blob of business doesn't care about commercial real estate. The very real people that make decisions at and for FAANG absolutely have concerns and interests outside of FAANG'S stock price in the decisions they make.
Be specific. I’ve already pointed out the absurdity of the case people try to make that someone with the intellect of a Google VP is fudging numbers in hopes of moving their SFH price. It’s pretty damning that there are many replies with no specifics, only vague insinuations. Ya, that’s about how well these criticisms have been thought out, of course.
Not at FAANG - but my company was scaling up and bought a much larger office space right before covid, so a lot of the push does seem to be "We just spent a bunch of money on this and need to justify it to investors, it looks bad when they come in and the office in 90% empty desks"
