this post was submitted on 15 Aug 2023
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I don't think there's some shadowy Illuminati organisation behind it. They are pretty blatent when they manipulate things.
That said, I do think there are a lot of investors and analysts that have come to the same conclusion and are talking to each other and passing info to their clients.
Well, maybe you know something I don't, but I'd expect most rich guys would be happy to save on office costs for themselves while still collecting rent from other rich guys, if they were personally okay going remote.
Sure, but if everyone who can goes remote, all that rent money dries up. Most also don't directly own buildings to rent, but rather have investments in companies that do. If those other companies go under then they lose money on investments. I don't have any inside knowledge though, this is just the conclusion I've been able to come to. Other than just being control freaks.
It's a shared resource looked at that way. Usually they aren't so good at managing those without being forced to by law. If it was a forest, they'd cut it all down and go broke afterwards.
I think they're just being stupid. Or, at least their middle managers are, like CBC has suggested in a more tactful way. I have a bit of inside knowledge, because I'm close with someone that's been working remote since the early 2000's, and this is what he's said about clients and vendors trying to comprehend the arrangement.
I definitely agree that they do stupid things because of short term gains and narcissism. I wouldn't be surprised at all if they're just grumpy bosses mad that it's harder to boss people around.
I also worry though about portraying executives as buffoons. Most of their short term decisions that look stupid make a lot of sense when you look at it through the lense of them just not caring that it makes life worse for other people. It's honestly probably a combination of a bunch of dumb and greedy things.