These downtowns will die without employees.
1)
The coffee shops, cafes, restaurants, and little businesses will just close.
The rents they pay don't justify the business.
This has been true for a long long time - but now there's even less justification.
Not that you care.
2) But also the big spaces with the offices - the regional banks that finance the building of the sky scrapers will take a hit as big employers no longer feel the need to rent Class A space.
That is leading to a big financial crisis among regional banks.
Not that you care.
3) Can good companies run without face to face connection? (and of lesser importance, can people rise up the ranks without literally being seen by mgmt?)
To put it into a more human context
- Would you rather meet a chick IRL or meet her off of Tinder?
- What would the Coli be like if cats had to show up to say they piece, and not hide behind screen names?
You probably don't care either.
That said
It's really not clear if these organizations can be effective when people aren't literally working together.
- Some places can make it work.
- A lot of places can't.
My job was some BS before the pandemic - but now with endless Zoom Calls and MS Teams Chat/Slack always open - it's that BS magnified.
In person, I could comfortably tune out. Now I really do have to sit and listen because for whatever reason my industry
- Never recaps a meeting (very little in terms of email recaps)
- Doesn't allow us to record meetings
On the other hand, the places that was all decentralized before the pandemic....
They hire a ton of Eastern Euros and Indians to do the work. Sometimes better work than Americans,
almost always cheaper.
You will start to see MORE situations where a lot of high paying jobs can actually go abroad.
Used to be just back office IT and call centers were in India and the Philippines. That's been the trend for 20 years or so.
Now....?