> The market cap of the set of all companies making the RTO/WFH decision must dwarf the market cap of Commercial Real Estate. Yet, somehow, Commercial Real Esta

> The market cap of the set of all companies making the RTO/WFH decision must dwarf the market cap of Commercial Real Estate. Yet, somehow, Commercial Real Estate is pulling the strings... a) The business districts of many cities become much smaller or (in some cases) effectively nonexistent if they don't have folks coming into the city's office buildings and going out for meals and entertainment throughout the day. This makes for a substantial reduction in sales tax revenue due to the reduced sales, and (for places that aren't like California and have the ability to actually make meaningful increases in property tax income over the years) property tax revenue as the on-paper value of those commercial properties plummet because there's neither people willing to put their asses into leased seats, nor foot traffic to feed those businesses anymore. This makes cities DESPERATE to get asses in seats and willing to threaten or bribe businesses with local offices to make it happen. b) Market cap is a handy proxy to get an idea of what the size of a business might be. Given that nVidia is currently the biggest publicly-traded company in the world according to this metric, one should notice that it's a metric that really needs to be evaluated in concert with others to get a full and accurate picture of what's going on with a particular business. (It's particularly instructive to notice that if a company were to sell all of its publicly-traded stock, it would receive WAY less for the sale than the "Wow, look at that market cap!" numbers would indicate it should.)