this post was submitted on 29 Nov 2023
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Better for whom?
Micromanagers and building owners
Yep all those countless hours of travel, gallons of gas, car repairs, transit fares, etc we’ve been covering out of pocket our whole working lives has been a free subsidy to commercial real estate companies.
It really is absurd.
I'm returning to the job market, and I'm honestly thinking of getting a shitty job within cycling distance, rather than be forced into commuting again.
I honestly don't know how much more they'd have to offer me, just to force me back in my car. It certainly won't be nothing or vague promises.
And the biggest winner, the people want to do soft layoffs
Board rooms full of people heavily invested in commercial real estate.
I have very real examples of this being the case where I am. There’s a lot of real estate that if it falls in value it materially impacts the exec leadership. No wonder they are so keen to save Pret.
People who have investments in:
• corporate real estate and companies like Blackrock, Concord Pacific and Amazon who easily own tens of billions of dollars of corporate real estate.
• downtown coffee shops that exist to ~~ripoff~~ serve otherwise stranded office workers.
• car and oil companies because all that rush hour traffic makes them money.
• road construction companies since rush hour traffic jams means easy bribing governments into paying billions for complex and frequently experimental road enhancements.
You forgot the governments who gave Amazon $5 billion in subsidies to have offices in their jurisdictions: https://qz.com/amazon-s-5-billion-discount-see-all-its-tax-cuts-and-1849821611
Here's a fun article from pre-covid about Amazon buying Vancouver's old post office building. They gutted the historic building and left only the outer shell.
Adding an estimated 4.2 million square feet of office space in one of the most expensive cities and pro-WFH cities in the world.
And were only expecting to use 1.1 million of that.
https://vancouversun.com/business/commercial-real-estate/commercial-real-estate-amazon-to-take-over-entire-former-canada-post-building