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> For almost as long as we’ve been tracking the COVID-19 pandemic, sf.citi has been closely monitoring the San Francisco tech exodus They say 63 percent of tec
by runeb 5y ago
> For almost as long as we’ve been tracking the COVID-19 pandemic, sf.citi has been closely monitoring the San Francisco tech exodus
They say 63 percent of tech companies surveyed have already downsized or plan to downsize their office space in the San Francisco Bay Area. This is to be expected in a work-from-home situation like the ongoing pandemic. I don't see anything about the percentage of it being permanent rather than temporary.
- ghaff 5y agoI took the pie chart next to the 63% one to be about the long term. So about half fully remote or substantially remote.
- dmode 5y agoI am actually more surprised that 40% decided not to downsize given the WFH model that is popular now
- ghaff 5y agoOne thing you're not accounting for is that companies normally plan for growth--whether or not that ends up happening. I expect a lot of companies that were likely exploring real estate expansion pre-pandemic have stomped on the brakes and will wait and see. So they may or may not downsize but they probably won't expand like they normally would have.
- ska 5y agoDownsizing is usually complicated and can be expensive and/or distracting. Particularly if you don't think it will last long, I can see a bunch of companies taking a wait-and-see approach.