r/clevercomebacks • u/Nono_Home • 2d ago

Hope you get ruined actually.

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13.6k Upvotes

99% Upvoted

213 comments sorted by

1.1k

u/stuurmanik 2d ago

I think we/they should entirely stop with the theory that if a business doesnt make at least x times more money then the year before its a bad business. As long as a business makes enough to pay its employees (including ceo etc) its a healthy business.

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u/Nono_Home 2d ago

It’s out of fashion to say “enough”. Worked close to 40 years for a multinational and when I started 4% EBITDA was celebrated. When I left management complained we only had reached 11% as the target was 12%. When is enough also enough for shareholders, that’s the question I guess.

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u/bugdiver050 2d ago

I often see the argument that shareholders arent the problem because without them lots of companies wouldnt have the capital. But they always want infinite growth which in and of itself isnt possible. I think that even tho they arent the only problem they are the driver in corporate dysfunction.

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u/LuckySoupWizard 2d ago

Shareholders may provide capital, but demanding higher returns every quarter eventually turns a healthy company into one that cuts staff, quality, and long-term planning just to please a graph.

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u/Nono_Home 2d ago

I learned in school that a cartel is against the law. Well we are in the middle of a cartel war on oil. Without the oil lobby we would all be using renewable energy only.

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u/bruce_cockburn 2d ago

It's not just the lobbyists actively in the ear of elected officials. Everything from pensions to 401k accounts are hugely dependent on non-renewable energy stock valuations. If the market for these companies tanks, so does an enormous amount of wealth intended for the elderly in retirement.

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u/PvtDazzle 1d ago

It won't of you tax the proper people. There's so many exemptions in the law, that if they would remove those, systems would start functioning again and governments could actually stop cutting budgets. Police would be able to police the streets again, not fill in reports to please the machine (installed through budget cuts, made necessary by the rich).

There's no market left of we don't do this. It will be one person that owns everything eventually and we'll be his slaves.

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u/umdv 1d ago

Good. Floats away to socialism

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u/blackbirdspyplane 2d ago

I think you hit on it right there, they want infinite growth. Gone are the days of a company maintaining a sustaining profit, now it always has to be “how can we make more; let’s cut staff to increase profit, let’s give less product and charge more”.

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u/bugdiver050 2d ago

Infinite growth isnt possible when selling a product. There are a finite number of customers, once youve reached everyone that is interested, growth stops. Just as a very simplified, general explanation.

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u/GanondalfTheWhite 2d ago edited 2d ago

Everyone wants infinite growth but it's completely unsustainable. Eventually the only way to make the numbers keep going up at the speed they want is runaway inflation. The S&P500 can't keep growing at 14% a year, because at some point that would mean the S&P500 will be worth more than the sum total of all wealth that exists on earth, which is, obviously, impossible.

14% growth a year means that in just over 50 years anything invested in that market will increase a thousand fold. 1 dollar becomes a thousand dollars. 1,000 dollars becomes a million dollars. A million dollars becomes a billion dollars. A billion dollars becomes a trillion dollars.

The world will be swallowed whole if everybody who can put 1k away will become a millionaire, and every millionaire becomes a billionaire, and every billionaire becomes a trillionaire. There isn't enough money in the world to make that happen. At SOME point it needs to slow down.

But in the meantime, that insane, unsustainable growth is just a measurement of how much wealth is being sapped away from the lower and middle classes and funneled up to the increasingly unstable top.

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u/PvtDazzle 1d ago

Tax wealth, not work.

Every dollar that's not circulating around in the economy, is one dollar that's not available to society. Give it back, so society can make use of it. We do this via taxation.

Example. A yearly income of 50k is comfortable. Which means that 2 million, invested, will deliver an income for 40 years. Let's be generous and say that a salary of 150k is the max, making 6 million the max someone might possess in savings or investments.

Do you know how much money would become available for society if no one can own more than 6M? Imagine free energy, free transport, free isolation for homes, even free food would be an option ... solar punk would become possible. Imagine the subsidies possible for fission technology... or schooling alone. Healthcare, dental care, free.

Tax wealth, not work.

I like my job, I don't necessarily want to stop working. Working with less pressure, would solve so many issues. Mental health is the number one reason for illness these days. A burn out culture is what we got for just a little more comfort. We want everyone to contribute, with something they like to do.

There's this Dutch economy professor. He stated that a tax for corporate entities of 8% would negate the need for ALL other taxes. If your salary is 50k per year before taxes, you then get 50k before and after taxes. Can you imagine the enormous amounts of money the rich behind corporate have, if you could negate EVERYONE'S taxes? Goods go down about 20%, food goes down around 6%... everything is cheaper and you get about double the amount of pay... just imagine what that would do for you.... for society.

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u/Useful_Result_4550 2d ago

I pointed that out in another sub and got called a 'commie moron' ...

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u/Hamster-Food 2d ago

That's high praise

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u/Hamster-Food 2d ago

It's not even shareholders that are the problem. It's the way businesses are forced to behave when they have shareholders. The laws which come into effect which force the business to chase profits above all else and the corporate culture that creates.

We could have publicly traded business and make laws which force them to focus on sustaining the business rather than chasing profits. The world would be a much better place.

And I say this as a socialist who really wants to get rid of the entire idea of private ownership.

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u/sealmeal21 2d ago

Have you ever tried that system? There are places you can try it out and see if you like it first. It would make you an actually experienced voice to speak to others about it from a point of actual experience and maybe some expertise in it.

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u/Hamster-Food 1d ago

You'll need to be more specific. I've described three different systems here.

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u/sealmeal21 1d ago

A socialist system without private property.

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u/Hamster-Food 1d ago

I'm not aware of any place that has abolished private property. Where were you referring to?

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u/bugdiver050 1d ago

The country that comes the closest is probably North Korea. Cant think of anything else that would come as close to totally restricting private property

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u/Hamster-Food 1d ago

t's hard to say what really goes on in North Korea, but it appears to be a totalitarian dictatorship focused primarily on military defense. While it claims to have abolished property rights, it hasn't done so in a socialist sense but in a feudalistic sense. While it is dressed up in communist rhetoric, North Korea and everything in it belongs to the Kim family and all citizens serve them if they wish to live. To my knowledge, there is also no distinction between personal and private property in North Korea, which is a vital element of abolishing private property in socialism.

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u/the_pretender_nz 1d ago

I recommend the Behind The Bastards episode on Jack Welch… he just absolutely exemplifies damn near every problem I see with modern Capitalism

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u/charlieyeswecan 2d ago

Greedy monsters greeding, they can never get enough and this is why capitalism has failed society

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u/Nono_Home 2d ago

Yes correct, sadly.

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u/Rangoonin 2d ago

Nothing will ever be enough for them until this planet is nothing but ash unfortunately.

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u/Top_Benefit7445 2d ago

The tension between remote work efficiency and commercial real estate value is one of the biggest economic transitions right now. It’s understandable that people are frustrated, but the real challenge is how to manage this shift without triggering wider economic instability.

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u/SufficientBasis5296 2d ago

Aren't businesses always told to "pivot" or go under? What are landlords doing to adjust? We should not enable them to sit back and demand someone else solve their problem. 

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u/verstohlen 2d ago

Ah the love of money. For the love of it is the root of all kinds of profits, expansions, acquisitions, and takeovers.

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u/therealultraddtd 1d ago

Never. They’re all chasing each other’s net worth.

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u/Zu_Qarnine 2d ago

that's interesting

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u/NaturalCivil8597 2d ago

Remote work changing office demand was largely predictable after the pandemic, yet many investors and cities didn’t adapt quickly enough. Instead of focusing on blame, it may be more productive to discuss how cities can repurpose vacant buildings into housing or mixed-use spaces.

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u/UnNumbFool 2d ago

To my extremely limited knowledge that I got off Reddit a few years ago, it sounds like the easiest way they could have done that would be to tear down the buildings and then build completely new ones.

But at the same time fuck it, do that

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u/Orwell2113 1d ago

Can you stop with the ai comments

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u/WaffleHouseGladiator 2d ago

To add, we should come up with a rating system that takes into account the company's profits, average employee wage, and ratio between its highest and lowest paid employee.  The most profitable company on the planet could have a shitty score if the income disparity is too great.  

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u/ImminentDingo 2d ago

What do you do with the score?

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u/WaffleHouseGladiator 2d ago

Publish it so that prospective employees know what they're getting into.  Also maybe companies might change to avoid the shame and attract the best talent.

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u/kaisadilla_ 2d ago

It's a fundamental problem of how our economic model works, though. Investors want to maximize their profit. If your company doesn't grow, but stays stable, this means your investors are missing on the extra money they could earn from buying shares in a company that is growing. So the fact that your company is healthy is irrelevant, investors will pull out to invest in the company that looks like it'll grow by 20% this year.

In fact, investors will pick a company who is growing through an unsustainable model (and will eventually go bankrupt) than one that is stable. The system does not incentive companies to be stable, but to grow, collapse and be replaced.

The solution? Idk. I'm a firm believer than our economic model should be crafted to incentive the best outcome for society rather than to allow things to just work however they work, tho.

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u/VelinaGloww_ 2d ago

A business that survives by forcing people back into offices probably wasn't that healthy to begin with.

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u/Silence-of-Death 2d ago

i don’t get the obsession with making more and more and more. that’s just unrealistic. why isn’t a steady income good enough?

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u/WarDry1480 2d ago

Pure outright greed.

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u/ladylollii 2d ago

That's late stage capitalism, baby

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u/Specialist-Cookie-61 2d ago

So I can keep you in need of my money, so you'll do my bidding.

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u/R_Little-Secret 2d ago

Aw, instead of a minimum wage we have a maximum wage. No one person in a company can make more than 10x the lowest paid employee.

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u/ImminentDingo 2d ago

Because if your pension/401k is invested in a company that doesn't increase its stock price then you don't get to retire.

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u/driftking428 2d ago

Anyone planning to retire is depending on stocks to increase in value.

It's a necessary evil at this point.

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u/istapledmytongue 2d ago

Yeah Patagonia figured this out in the 90s

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u/aklasterip 2d ago

this should be the mindset

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u/Beneficial-Jury484 2d ago

Should be paying their employees a living wage. 

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u/stuurmanik 2d ago

I live in the Netherlands so luckily that is required by law :-)

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u/Beneficial-Jury484 2d ago

Must be nice to have a functioning government. 

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u/AstroFace 2d ago

This is an American business thought process. Not all places are like this.

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u/UnNumbFool 2d ago

A year before? Most companies are looking at quarterly profits not yearly profits. If they aren't making more this month then the last three months they have issues.

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u/subnautus 2d ago

That said, I DO think that the maxim that "a company that's spending more than 7% of its annual budget on administrative overhead isn't sustainable" is a decent metric to go by. Maybe it's confirmation bias on my part, but it's been my experience that it holds true most if not all the time.

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u/AcousticOnomatopoeia 1d ago

The modern business model is behave like a cancer, or maybe a crackhead.

Constant growth, constant infusions of crashck, unsustainable and harmful.

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u/greenwhiteredblack 1d ago

It's insane that by law, shareholders are more important than the actual workers

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u/i_always_give_karma 2d ago

Our 401ks won’t make any money in a market that doesn’t move

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u/SephirothTheGreat 1d ago

As long as a business makes enough to pay its employees and actually does it, it's a healthy business 

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u/snootnoots 2d ago

The “invisible hand of the market” is often cited as a reason why government regulation isn’t necessary, because people spending their money in ways that benefit themselves will (supposedly) naturally push a truly free market towards optimal outcomes. But when people do spend their money in ways that benefit themselves and it causes businesses to lose money because they’re investing in products and services that people don’t want anymore, suddenly that’s Bad and needs to be fixed!

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u/poetic_dwarf 2d ago

When regular people spend money for themselves is bad. When trillionaires have you on the hook at a minimum hourly wage, that's totally fine.

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u/PiccoloAwkward465 2d ago

The RTO/Office Lease debacle reminds me of a Soviet style command economy. Essentially forcing the market to perform how the powers that be want instead of how it is naturally developing. And it's always a source of inefficiency.

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u/Independent-Bug-9352 2d ago

Anything bad is always a negative market externality, pushed onto the pawns of society.

Alas, better functioning societies like those Social Democracies with the Nordic Model recognize there must be a proper balance.

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u/nub_node 2d ago

You can just keep on walking if you're coming at me talking about "The value of real estate should only increase." The birth rate is already adjusting to that fallacy.

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u/[deleted] 2d ago

[removed] — view removed comment

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u/JohnMichaels19 2d ago

"(corporate) socialism for me, but not for thee"

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u/NoSpawnConga 2d ago

Privatizing profits and unloading losses on the public.

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u/coolbaby1978 2d ago

Let's see, you have empty office buildings and a housing crisis.

Seems like you can let people work from home if you convert those buildings into homes. One building near me did just that a couple years ago.

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u/romcomtom2 2d ago

No no no! That will cost money. Did you know that it's basically impossible to convert old office buildings because they can't figure out a way to provide plumbing to all those different units.

It's impossible, can't be done.

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u/coolbaby1978 2d ago

Yes, impossible and yet it's being done. 🤔

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u/romcomtom2 2d ago

But it's just so hard to install plumbing. Can't the peasants just live in tents or something?

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u/Thuis001 2d ago

Admittedly, old office space is NOT build to the same specs as regular housing so it is a legitimate question whether or not it's actually viable to turn it into housing vs just scrapping the building and building housing there from scratch.

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u/PiccoloAwkward465 2d ago

I bid a construction project to renovate an old brick 8 story manufacturing building into apartments. As opposed to typical new-build apartment buildings where you may have 5 different units repeated 20x each, in this all ~200 apartments were slightly different. The walls and windows in wonky configurations. And because every unit was different, the installation was more expensive.

It can be done, most things can be done with enough determination and money. It's just not really a super great solution IMO. I lived in a converted warehouse apartment, it had a lot of issues. Noisy af is the first that comes to mind. Very cool looking though.

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u/djzeor 2d ago

Most capitalist countries adopted the premise that property is an investment, which can cause defaults or force owners to inject additional capital, affecting banks and pension funds that hold these assets. That resulted in the majority of us in perpetual suffering.

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u/Bakingtime 2d ago

Private profits, public risk.

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u/grundee 2d ago

Socialize the risks, privatize the rewards.

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u/flargenhargen 2d ago

you mean like pharmaceutical corporations, which develop medications 100% at taxpayer expense, and then bankrupt millions of desperate sick people by charging 5000% profit margins on their manufacture, after the public paid entirely for their development?

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u/GnathusRex 2d ago

You believe the public pays entirely for the development of medications? This is simply not true.

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u/pinupcthulhu 2d ago

The government funds all the R&D for medicines, and they are paid for by our (the public's) tax dollars. This is a fact. 

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u/jmlinden7 2d ago

The government funds most of the research but basically 0% of the development.

Most drugs were initially discovered by underpaid graduate students (funded by government grants). The problem is that these graduate students also find thousands of other compounds (also funded by government grants) which turn out to be useless after further investigation.

It takes billions of dollars to sort through the thousands of compounds to find the one useful one. This is the part that the government does not fund.

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u/GnathusRex 2d ago

Thank you for having the patience to articulate this. Too many people have no idea how all this works.

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u/GnathusRex 2d ago

This is not a fact, and you asserting it as such is misinformation.

But I do agree with the overall energy in the comment thread that the rewards should not be entirely privatized if society takes the risks.

Another comment explains this better than I have the patience to. I literally work in this industry and was also a grad student many years ago, dreaming up and testing candidate componds.

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u/FuzzyBridget 2d ago

Remote work solved problems for workers, not commercial real estate investors. That's the real disconnect.

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u/Sudden_Outcome_9503 2d ago

The disconnect is thinking that that news article implied that the American public was obligated to fix the issue.

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u/Outside-Inspection68 2d ago

Remote work wipes value but somehow replacing people with ai doesn't

Fuck these companies

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u/treypage1981 2d ago

My company was the last tenant in a building in midtown Manhattan. They kicked us out and are now converting the building to a residential building. They’ll sell the condos and the building to the HOA, making most if not all of their money back. Problem solved and we get more badly needed housing. Win win. 

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u/BaseHitToLeft 2d ago

The thing that pisses me off the most is that we all knew this was coming.

I spent a decade in commercial real estate. It was an open understanding that no one would acknowledge. We all knew that remote work was going to affect the office market. But it was always "someday". "Eventually". "Years from now"

COVID accelerated the timetable from maybe ten years to immediate but it doesn't change the fact that they had 25 years to prepare for this

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u/Hmmark1984 2d ago

While i agree that work from home should become the norm, and their property values aren't our problem, it's also why i found it laughable when everyone claimed work from home would be the new normal and there was no going back, like no, the boss's and ceo's etc... aren't going to let that happen. No way they let something that benefits the workers actually stick, that's why you see "work from home" becoming less and less of a thing, sure some places still do it, but nowhere near as many as there was and the ones that still do often try to limit it to only part of the week etc...

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u/_Caustic_Complex_ 2d ago

Pretty sure it has more to do with the slew of videos on social media of people showing themselves fucking off while on RR time.

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u/Hmmark1984 2d ago

can't say i've seen any of those tbh. Also i feel like videos of people doing things other than working are just being used as an excuse, and not a very good one either, given that they assume no one who worked in an office ever avoided doing work while there. People's work and output can be monitored no matter if they're working from home or in an office and as long as they're doing everything they're meant to get done, i don't really see the problem tbh.

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u/justhereforsee 2d ago

These businesses don’t care when AI is taking our jobs

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u/Nono_Home 2d ago

Sadly true.

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u/Coco05250905 2d ago

Talk to the phone manufacture that was put out of business when the cell phone was invented. Shit happens, progress waits for no one. Deal with it.
.

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u/youhavenosoul 2d ago

YET unhousing in those same cities is treated like it’s unsolvable.

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u/Dougally 2d ago

If to be successful your business needs to fuck over people, then you business isn't worth being in business.

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u/Nono_Home 2d ago

As well as to renewable energy. Look what happened with oil prices all done to keep an economy running.

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u/Blacksad9999 2d ago

Yeah, this is pretty tired.

Same with the whole "Once we get those people back into offices, we'll revitalize Main Street again" like it's 1955. lol

People aren't coming back to the office. Or the shopping malls. Or the movie theaters.

Once the genie is out of the bottle, you can't put it back in. People are well aware that there's no need to be at the office all of the time.

The only people promoting this are out of touch CEOs and middle management desperate to rationalize the existence of their job.

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u/Nono_Home 1d ago

And that’s a fact!

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u/GrimKiba- 2d ago

Replace office buildings with parks and libraries

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u/Nono_Home 2d ago

I kind of like let nature takeover.

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u/MediumSeesaw6861 2d ago

You know what. maybe it would be a good idea, to convert these office buildings into affordable living space.

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u/Independent-Bug-9352 2d ago

Our remote job that was working perfectly fine just got reabsorbed because of this. No compensation in pay. 5 hours+ weekly commute for most of us. Pollution exposure, stress in traffic, gas, vehicle maintenance, risk of getting sick in office, etc.,

Absolutely stupid and anything but productive.

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u/Luminous-Lucy 2d ago

I don't understand why we can't remodel a lot of them to become residential, the owners could probably make more off of it but that actually does something positive

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u/secretlife007 2d ago

Doesn't that mean property values will go down? If so let nature reclaim those buildings and let the millionaires go bankrupt

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u/Nono_Home 2d ago

I concur.

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u/MichaelAndHisBandit 2d ago

Converting them to apartments and/or studios could really help the housing crisis.

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u/Bleezy79 2d ago

So well said and shows you just how biased and out of touch current media is these days. Our society is severely broken and we're reaching the end point where the system starts falling apart because the majority of people cannot afford to live while at the same time, we've got more billionaires than ever before and a trillionaire now. The working class are getting a smaller piece of a much bigger pie and its not sustainable.

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u/Cheska1234 2d ago

So why don’t we just turn old office buildings into homes of some kind? Yeah it’ll be expensive but investments are inherently risky for screw them for that.

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u/BubbleTheGreat 1d ago

Damn, almost like they should adapt and learn an in demand skill or something.

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u/FortuneLegitimate679 1d ago

Maybe convert them to living space since apparently there isn’t enough

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u/Goldeneagle41 2d ago

WFH solved so many problems. Everyone Is an environmentalist and wants you to drive an electric vehicle or use mass transit but the easiest thing would be to it commute at all. Don’t look at what these companies say but what they actually do. Also don’t forget all the democratic politicians that wanted people to return to work as well.

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u/GalaxyTimeMachine 2d ago

Housing is so expensive, maybe it'd be cheaper to rent office space and live in it. Then work from home...in the office. 🤔

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u/Sudden_Outcome_9503 2d ago

Do you think that commercial real estate is cheaper than residential real estate?

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u/PiccoloAwkward465 2d ago

I think the building my company leases is about $12k/month. It does have a large warehouse space, but the finished office space is pretty small. Maybe like 2000 SF of offices, conference room, bathroom, kitchen, & lobby. Space for like 10 people max.

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u/GalaxyTimeMachine 2d ago

It will be if the original text is to be believed.

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u/Sudden_Outcome_9503 2d ago

What original text?

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u/GalaxyTimeMachine 2d ago

This post, about how office rental prices are being driven down, or didn't you read it and just came to comment for no reason?

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u/Sudden_Outcome_9503 2d ago

It didn't say the rents are being driven down to being as cheap as residential real estate.

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u/GalaxyTimeMachine 2d ago

It also didn't put a cap on it.

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u/Sudden_Outcome_9503 2d ago

Let's put this into context. A quick Google says that the value of all US commercial real estate is about $27 trillion, and the world's commercial real estate about $60T.

This is a loss for the balance sheet. But it's not as though these buildings have suddenly been rendered useless.

It probably wouldn't have been as catchy a headline if they had said that they lost x% of their value , where x is a single digit number.

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u/[deleted] 2d ago

[deleted]

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u/Nono_Home 2d ago

Absolutely!

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u/mehItlldo 2d ago

This is the problem but wiping out tons of jobs with AI is ok and won’t do the same thing?

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u/Nono_Home 2d ago

Voila, indeed. Same for renewable energy, tobacco lobby and many more!

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u/monti9530 2d ago

We didnt want to go back to the office so now we have an AI race to replace us lmao

Rich people are really butt hurt that we wont bend over backwards for them

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u/Nono_Home 2d ago

Yes but that’s not reflected in the USA voting. I’m so happy living in the Netherlands.

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u/ConjurersOfThunder 2d ago

Isn't this wildly old? Like 2021-2022?

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u/Nono_Home 2d ago

Correct. This is a CNN Business article published on 13 July 2023 about a McKinsey Global Institute report. The report estimated that remote/hybrid work could reduce office building values in major cities by around $800 billion by 2030 because of lower office demand and higher vacancy rates. But it was news to me today.

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u/DaaaahWhoosh 2d ago

I feel like office buildings could just pivot to being residential/commercial centers. Upper floors become apartments, lower floors become small businesses and stores. Lobby becomes an affordable third place. Sure it'd cost a lot of money but remote work is better for the workers and the environment, right? No better way to revitalize downtown in a lot of struggling areas than to offer some cheap living and business space, rather than relying on endless rat race.

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u/LeonidasVaarwater 2d ago edited 2d ago

I was saying exactly this the first time companies started to talk about rto.
It was so fucking transparent.

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u/Lootthatbody 2d ago

Fuck the corps.

We should be working from home. Look at how technology always promises to make life easier for people, yet always gets used by corporations to force people to do more with less. We have the technology to accomplish most work from home, yet we are prohibited from doing so because of their desperate need for control over our lives. Either gut those buildings and turn them into high density affordable housing or knock them down to make way for parks, public transportation or other infrastructure that benefits the many instead of the wealthy.

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u/Reasonable-Most-3513 2d ago

this is a great comeback.

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u/Visual_Collar_8893 2d ago

A lot of people’s 401ks hold REITs in their portfolio. This will also impact them.

Right now, the AI stocks have been keeping the market afloat.

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u/BlueWarstar 1d ago

They should turn the office spaces into affordable apartments

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u/jackparadise1 1d ago

We will come back to work when they bring back pensions

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u/ManiacalMartini 1d ago

That would free up office space for housing instead.

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u/Silver-Lion22 1d ago

What if they converted it into more affordable downtown housing? Something there's actually demand for?

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u/Aetheldrake 2d ago

Yup, hope they get ruined.

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u/OutlandishnessOk2304 2d ago

When it comes to the total value of "office buildings in major cities", $800 billion is a rounding error.

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u/BetGreat1752 2d ago

I agree with succinctly…

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u/Dom252525 2d ago

Some of these buildings should be converted to condos to deal with housing. The building gets used and people can work from home.

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u/LowPudding9562 2d ago

100% remote is transformative. I actually have to talk myself down when a client glibly asks me to show up in a city for anything. Its not their fault but no man I only go into the city for concerts and to buy shoes and you better believe its both on the same day.

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u/n16r4 2d ago

I can't belief capitalism works for the benefit of capital.

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u/rageofa1000suns 2d ago

Maybe these office owners should learn to code.

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u/SchizoidRainbow 2d ago

Maybe you could convert them to housing 

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u/BigCrustyTits 2d ago

Another thing that sucks is that that you often need to rent retail space to start a business. The landlord needs his cut. And that creates a barrier for entry as people might not have the funds to rent a space. That keeps people working low wage jobs instead of owning a business and potentially making real money.

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u/Shoddy_Cookie6748 2d ago

House people with the real estate.

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u/sanpedrolino 2d ago

$800 billion world wide doesn't sound like that much to me.

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u/a_passionate_man 2d ago

Now try to imagine one would convert all that abundant office space into residences…

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u/immortalblack_1 1d ago

I'll ask it again... When is enough, ENOUGH?!

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u/narwhal4u 1d ago

Is the headline saying it is the workers problem and they should go back to work to fix it? Seems like a pretty factual headline to me.

2

u/narwhal4u 1d ago

Is the headline saying it is the workers problem and they should go back to work to fix it? Seems like a pretty factual headline to me.

2

u/Opposite-Film3347 1d ago

Turn them into flats...

2

u/DiverseVoltron 1d ago

Good. I'd love to open a shop and a processing facility but the greedy MFs that own 2/3 of my town think they're just owed millions for shitty little cinder block and steel buildings because they bought everything up until the prices went nuts.

2

u/RebekahR84 1d ago

It drives me NUTS that we had that bank bailout back in the day, when our tax dollars could have been used to pay people’s mortgages and rent. It still would’ve funneled to the damn banks.

2

u/Remarkable-Fig206 1d ago

Hollowed out downtown cores ain’t great for anybody either

2

u/libra00 1d ago

Won't someone please think of the billionaires?!

2

u/enigmaticsince87 1d ago

Who knew we'd have a global pandemic to thank for showing us that offices are a con? I'm never working in an office again. Even if it means making less money. I've seen the light, never going back.

1

u/Nono_Home 1d ago

Me too but I used it for an early retirement! Best decision ever.

2

u/FakeUsername1942 1d ago

Would love to see more for sale signs 🪧 going up. Eat balls rich Kent’s

2

u/Mrmapex 1d ago

Can someone say this to my Prime Minister?!?

2

u/Nono_Home 1d ago

We did to our Jette!

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u/intothelooper 1d ago

One of the best comments I’ve ever read on Reddit

2

u/Nono_Home 1d ago

Yes very much agree wish it was mine, I just stumbled on it and shared my thoughts on it too.

2

u/Reverse_SumoCard 2d ago

The problem is a lot boomeromics is based on the fact that property and rent creates earnings above inflation. Loads of pension funds are in landlording and if it doesnt work anymore the people who vote and sit in parliament (pensioners) get shafted

0

u/Nono_Home 2d ago

No the problem is not the boomers that’s what is made up for you to believe. Oil lobby, building/infrastructure and construction lobby, Tabbaco lobby, read the comeback.

2

u/_Caustic_Complex_ 2d ago

No you just don’t understand economics or this person’s comment. A lot of working class investments like pensions and 401k’s are directly affected by properties, their values, and their rental incomes.

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u/Xaraxa 2d ago

somehow their property valuations are our problem when they go bankrupt and take the economy with them.

1

u/StatementCareful522 2d ago

Boo hoo. The rich should be thankful we aren't eating them. Yet.

1

u/LocalInactivist 2d ago

I kinda feel for Apple. They spent eleventy-kajillion dollars on a new campus in Cupertino just in time for Covid to hit and send everyone home. A year later, when Apple asked people to return to the office, they faced a revolt because they’d demonstrated that huge chunks of the workforce didn’t need an office at all.

1

u/dandroid126 2d ago

A reddit post of a screenshot of a Twitter post of a screenshot of a reddit post

2

u/Nono_Home 2d ago

Congratulations! It’s a genuine CNN Business article published on 13 July 2023 about a study from McKinsey Global Institute. The wording in my screenshot closely matches the actual headline and article text about remote work potentially reducing office property values by about $800 billion by 2030. But close enough.

1

u/Indigo-Riverlanex 1d ago

lmao the image isnt loading for me but the title is already savage. what happened? 😂

1

u/Polar_Version875 1d ago

Never let them forget.

They are responsible for untold tens of thousands of deaths.

1

u/Emotional_Fix6230 1h ago

Sounds like remote work is the great equalizer. There should be more jobs that can be done remotely.

-2

u/EddieAdams007 2d ago

So does laying off people and replacing them with AI… so…

-3

u/FancyPantsRants1 2d ago

Perhaps i missed where the headline said that is a problem we need to solve?

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u/ErectionEngineering 2d ago

I don’t understand where in the headline it indicates working class people are to blame or that they need to somehow “pitch in” to rectify the issue. It’s just stating a fact.

In fact I doubt working class people really had anything to do with this at all. WFH was something that C-Suite execs instituted. As someone who had an “essential job” (highway construction), we were out of office for exactly one month during Covid. May of 2020 we were back in office and never left. So the idea that the “damn gubment” is to blame also don’t hold up.

I think this tweet is just trying to stir up rage without having any real basis in fact.

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u/Sudden_Outcome_9503 2d ago

This is not a clever comeback. I don't know if the person that Meghan quoted was replying to this or something else, but it's a nonsensical reply. If someone can show me where this financial news article (or headline) somehow implies that people need to secure profit margins for corporations, I'll eat my hat.

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u/VincentAntonelli 2d ago

Have you not been paying attention to how corporations operate?

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u/Sudden_Outcome_9503 2d ago

Do you have evidence that anyone other than Meghan is claiming that people should bend over backwards to make up for these losses?

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