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Curious to see what happens with the commercial real estate market when all of these firms decide that EFH is the way to go
I think you’re seeing that FB is now hiring to meet new regulations, but the most obvious thing when it comes to WFH is you don’t need to pay equity, etc.
Why pay a SWE $300k+ when you can get one in Raleigh for $150k with more experience?
Why do people act like companies can drop their real estate/facilities obligations at the drop of a hat? These are expensive almost always multi-year deals agreed way in advance to lock in favorable rates and just combat scarcity. They won’t see the benefits for awhile and if the thesis is that many companies will do this then it’ll be hard for them to rent or recognize value on used assets in the meantime.
My question though, (as a Facebook shareholder) is how this will impact productivity. Will people tend to be more lazy and slack off while working from home instead of their typical work environment? Or will their new freedom actually increase their motivation and work ethic? Only time will tell.
In the case of Facebook the majority of those costs are actually building out data centers, which will be necessary even as workers wfh, but there definitely are some real estate costs that could be cut