1% wealth is not pure money. It is stock and real estate. Also shares.

To keep the value of their wealth the 99% needs to spend.

Is retail near office buildings worth considering in the context of this post? That it’s worth having people return to the offices partially because the employees give business to the nearby restaurants, etc.?

There is a tangible benefit in certain jobs from being in the same space. I work in a place where we are constantly training new employees with OJT. Continuous improvement and learning new things from peers is important for our future capabilities. Knowledge sharing is a big part of my job.

We rotate in-office and work-from-home weeks and there is a considerable reduction in questions asked and just general training-type or knowledge sharing interactions. Being able to ask a question or provide guidance directly, in-person, and off the cuff is easier than messaging or calling. I definitely get more work done at home, but sacrifice future efficiency of myself, my peers, and the department as a whole because of the reduction of knowledge sharing interactions.

I think we have struck a good balance with the rotation in the time being. We could certainly try to figure out ways to make knowledge sharing and training easier and more effective to do remotely, but as our culture is now, working from home makes it less effective.

There are a whole slew of ways to look at this depending on what "glasses" you like to wear, and also the type of work involved. I work in grocery logistics, moving groceries from where they are produced to the store where you buy them. Here's a few from my "lens":

• They are looking at the long term office space leases they are stuck with.
• In person training tends to be more effective ( I remember reading a study on this, but can't currently find it.)
• Most people suck at communicating effectively. Proximity seems to improve this. (Personal observation)
• Community (It is far easier to "other" someone that you rarely or never meet in person. Not so easy if they are showing you pictures of their kids every day. "Sally just got a new particle accelerator! Isn't she so lovely! This is her sinking Manhattan!")
• Leadership (I have to come into work to do my job. My boss's job though is mostly paperwork. He could do his job from home but why should I care what he has to say if he isn't in the same mud as me?)

My thought on this is if you want the flexibility of working from home, that's fine. But don't expect me to give a damn about what you think. The job is rough enough without an uninformed opinion trying to mess things up worse.

There's a thing that cult leaders often do where they make increasingly stricter demands on their followers, it reduces the number of members, but the one who remain are much more easily controlled (because they self selected for that trait. I think something similar is part of the picture for these companies. The people who simply do as they are told and come back (as opposed to looking for new jobs) are more easily controlled by the company.

Also you can't always assume that just because a company is really big it's always making the most best, always correct choices. Like GE managed with "vitality curves."

1. The companoes are locked into commercial real estate

2 ) Working at home is making the middle manager obsolete. I think google's ceo said that he didn't know how to promote managers he cant see. I personally think mamagement is corporate welfare.

In office communication is much more efficient. It is easier to understand (and pay attention to) people in the same room as you than it is to understand people on a call (especially since most people don't have a great microphone and Internet and LAN quality can vary). Some employers have adopted a policy of grouping meetings to designated meeting days and encouraging employees to come in on those.

You guys are still doing homeoffice? I've been back for over a year.