They all did it, from Salesforce, Uber, and Twitter on down. It was pure magic, a show produced with enormous hype. Now they’re all trying to get out at the same time.
The city’s building inspector confided, “I don’t know why anyone would ever pull a permit for an apartment remodel; the cities make it so difficult.”
“The future of work is flexibility,” CEO Pichai told employees today.
This sort of sudden structural collapse in demand for office space raises some existential questions for landlords.
Landlords failed to disclose how much they had to fork over to office tenants to get even these reduced rents. Since we have holdings on the Peninsula, we know the real numbers first-hand.
A “distributed operational workforce” with a net reduction in demand for office space facing a business premised on endless growth.
This isn’t a blip.
To be honest, the WTF SPAC bubble wouldn’t be complete without a WeWork listing that lets SoftBank get out.
Wolf Richter on Howestreet.com.
The fact that smartphones are perfect surveillance devices has been kicked around for a long time. And the data are immensely useful in B2B.