A lot has changed in 2020. The entire world economy has been altered, likely permanently. It has been discovered that many technology workers can effectively work remotely. Not everyone can do this well. The in-office interaction between people is highly beneficial for productivity. But, it appears that those advantages are largely going to be discarded by a great many organizations.
Looking at the news from recent months, we find that companies are abandoning high-cost office locations, such as Silicon Valley, New York, Boston… Rates for office rents in those big cities are collapsing, because talented employees of companies based in those areas have little desire to come into the office in the age of COVID. For example, the Wall Street Journal published an article titled “The Silicon Valley EXODUS” on August 15. Why an exodus from the cornerstone location of advanced technology that fueled the surge that has happened in the past quarter century of high-tech?Continue reading