Vicky
Rod Hiltonlol cry more
Toad King@rodhilton we gotta pump those numbers up
KanaMaunaYes, but how much did we spend on pajamas?
The whole framing is lame. The money did not evaporate. It was spent somewhere else. Maybe journalist who are to lazy to investigate that thread deserve to be replaced by AI.
Giovanni Asproni@KanaMauna @rodhilton it would be interesting to see the effects on local communities and also on general health of the population. My gut feel is that they are quite positive (but I have no data to prove it).
@gasproni @rodhilton For the first few years sales for bicycles, garden nurseries, home improvement stores, and related contractors were absolutely booming. Not as glamorous as yet another glassy monolith but probably a lot more spread and impact.
chidi_anagonyeDing ding ding! We have a winner. There is even a name for this....broken window economics
Rihards Olups@KanaMauna @rodhilton Not a journalist. Some “valuetainment” account, probably wrote this as a click bait.
Too bad Rod trimmed account info and did not include link to the source.
Too bad Rod trimmed account info and did not include link to the source.
Timothy Wolodzko@rodhilton I'm so sorry!
Joe Cooper 🇺🇦 🍉@rodhilton they have no idea how much joy it brings me to read how much value I'm taking away from them. In my pajamas! I feel powerful. Maybe we can have affordable housing in cities again if offices stop being more profitable. (I know we won't but I can dream.)
Spas Kolev@swelljoe @rodhilton That value went to the employers using your home space for free. And on longer term you may need a larger home. Nothing gets lost in the nature :)
@spas_kolev @rodhilton I don't operate factory machinery. I need a computer, a desk, and a good chair, which I have always had. Now, let's talk about commuting cost and time.
There has been so much space not leased for a long time, pre-covid.
They are just finally waking up to the fact that their is no demand when the landlords will not reduce price per square foot.
They thought they can hang in there, but there is no way. There are many buildings completely empty that have signs that say for lease.
The landlords are insane. Their overhead costs to maintain an empty building add up. They should just sell the building for cheap and get out of the hole.
Szaweł Trecz@rodhilton i bardzo kurwa dobrze!
prozacchiwawa@rodhilton "efficient, innovative workers lay off $800b in office space scoring big win for office worker industry"
"the space being made redundant is encouraged to refit for other industries"
Michael Wyman@rodhilton how much have remote workers collectively saved by not commuting, in gas, parking, car maintenance, not even counting time?
Tore Julø@rodhilton I think they spelled "corporate workers who are still productive in spite of not having to suffer office life and long commutes" wrong.
Björn 🌸 Starkimarm@rodhilton As a pyjama revolutionary, this gives me motivation to keep not going to the office. Thank you for bolstering our morale.
Sigh....those saying that are falling into the broken window economics fallacy
beforewisdom 
Rich people have a way of making their financial problems everyone else's financial problems.
The economy is a web of interconnections.
Putting that aside, yes I am not sorry about it either.
I'm thinking of the gas saved, the pollution saved, better traffic, and the improved quality of life for many in not having to commute.
@beforewisdom @rodhilton we never got a cut, so why should we give a damn
because......the economy is interconnected. Real estate value in office buildings dropping may result in you getting laid off, a recession, etc.
That being written, I am not shedding any tears, prying open my wallet, or writing a petition to go back to the office.
Jo ♀️🐈🐈⬛🛍️🌛🥂
rēd ⭐@rodhilton Pajama Patrol has a nice ring to it...I'll take that as a compliment...
Konstantin Weddige🤣🤣🤣
Poor investors
Poor investors
David Mitchel Sotelo@rodhilton Can you explain how remote workers caused this? I don't think I understand what a corporate real estate collapse means or how it affects people. If If you don't wish to try to explain this to someone as ignorant of these terminologies as I am, I understand.
Ernest Thornehill@David_Mitch_Sotelo @rodhilton
They diddn't. Corpos have had a grudge against work-from-home policies for a while.
Before the pandemic, the main argument was that wfh would decrease productivity, because people needed the exchange with colleagues and were too tempted to slack off at home. But then covid hit and productivity diddn't only fail to go down, it actually went up in some spaces.
So now that the pandemic is 'over', people who enjoy wfh are refusing to go back to the office, and want to keep working from home.
Since the pandemic also shifted (or made a shift visible in) the job market, from a market where employers had their pick of employees to the other way round, people can use this newfound power to bargain for wfh policies.
Office Space is usually not rented on a month-by-month basis, but likely 5 or even 10 years in advance. Meaning that office space that stays unused due to wfh policies still has to be paid for.
So from a pure monetairy perspective there is a lot of unused space, that costs corpos money without producing anything and landlords expect to see a drastic drop in demand in a few years, which makes both parties angry.
cont
@David_Mitch_Sotelo @rodhilton
Since large corporations and landlord associations have a lot of political power, they can use corporate friendly media to frame this as something the workers are doing to them out of bad intentions.
This headline frames the workers as cowardly or lazy, but other articles frame them as illoyal, greedy, spiteful etc.
If people with less power were to lose their investments or facing economical hardship, this would likely be framed as 'The free market working as intended', but it doesn't so it isn't.
The effect on the majority of people would be minimal, if the market was left to it's own devices as corpos keep suggesting. Though history shows that - at least in america - entities with a lot of power like big corps or banks will usually get handouts from the government.
🇺🇦🇪🇺 C. WeickhmannStraight from The Onion News Network, or what!? What about the suit-patrol burning their multi-million dollar contracts in private jetting and real esta... oh, I see...
GutotitoOh noes! Anyway.
@rodhilton most powerful pyjama patrol in history! ❤️
David Chartier@rodhilton @konstantin I don’t understand why they don’t have bountiful savings accounts for emergencies like this.
tech himbowhen gas prices go down, economists cheer. when food prices go down, economists cheer. when labor prices go down, economists cheer. but when real estate prices — and therefore housing costs — go down, economists panic? why is a lower cost of living only good sometimes?
Simon Detheridge 
@rodhilton I think I speak for all of us when I say
T Kennedy@rodhilton maybe the corporate real estate shills should spend less on coffee and avocado toast?
Doctor Memory@rodhilton that’s certainly one way to characterize the largest and most important advance in white-collar labor productivity in our lifetimes. Who the hell wrote that? Name and shame!
Office leases are deadweight loss. Pass it on.
FoolishOwl@memory @rodhilton Sometimes death and decay are necessary for new life.
@foolishowl @rodhilton I think it was @sarahtaber who said “I’m not sure if I’m a raging socialist or if I’m just so ride or die for capitalism that I want capitalists to experience it too” and I think about that a lot at moments like this. Oops your sure-bet investment in commercial real estate actually turned out to be a loser? Welcome to the NFL, kid.
@memory @rodhilton @sarahtaber I get the impression that a lot of the built environment is built with an implicit assumption that it's supposed to be there forever -- or at least that dealing with it in the future is someone else's problem -- rather than with a lifecycle in mind. Like, if we reduce the use of cars, what are we going to do with all this concrete and asphalt?
I'm feeling morbid today, but I'm also thinking there's too much childish refusal to think about death.
BoredomFestival@memory @rodhilton yeah, this is not a bug, it's a feature
@rodhilton Good!! It's not our money. We don't care. And we love remote workers. Because they are lucky enough not to have to deal with your bullshit office politics, commuting into the least attractive part of town, just to sit at a desk next to some prick they would never be friends with.
Mieszko Ślusarczyk@rodhilton „Too afraid or lazy”. lol I’m happy they got bankrupt if this is their mindset.
@rodhilton perhaps the various Companies who own vacant office buildings could sell them and save the cost of keeping them?
DianeLipartito@rodhilton Oh no! Hmmm...let me thing about this for a moment. Oh yeah, that's right...I don't care.
Shadowbottle@rodhilton @krzyzanowskim oh no, no one tell them about the entire middle class!
GuacamOlé 🥑@rodhilton and i thought I would never achieve something good and big in my life
Zerofox@rodhilton Good. Nobody ever *wanted* to be in an office anyway. They could always turn these buildings into low cost housing.
Connel@rodhilton that's the free market for ya
Gabriele Svelto [moved]@rodhilton now we need a picture of Karl Marx in a pajama
entropealabs@rodhilton did an abandoned office building write this?
pfm 🧘 
Json Doh@rodhilton Oh no! Call your representative now! Someone needs a bailout.
Kay Ohtie 🔜 FWA@rodhilton "you can't afford your own house? That's your fault making a bad investment"
"It's the workers who are responsible for this"
Idk sounds like they made a bad investment~ 
guess corporate real estate wasn't so stable after all
RevK 
@rodhilton wow, remote working saves companies $800bn (Ok I appreciate the figure will not be the same). Maybe that is a better headline?