Facebook will now let some employees work from anywhere
Investor · Pasadena, CA · Member since 2020 · 4 posts · 2 votes
Facebook will now let some employees work from anywhere
Most Popular Reply
Olathe, KS · Member since 2018 · 148 posts · 207 votes
6yOriginally posted by @Amit M.:
I think the recent work from home hysteria is a fallacy. Conceptually, working from home has NOTHING to due with covid 19. If it’s so awesome, why wasn’t it adapted en mass years ago? Yahoo a couple years back even rolled back WFH. It’s a trend that will have some effect yes, but it’s being way over hyped. For two main reasons: 1- I’m not sure it will really provide long term benefits to the tech firms jumping on the bandwagon now 2- I’m not sure how many employees will ultimately like it, after the forced-Covid-novelty wears off. i.e. it’s hard to get all those cool tech co benefits like free gourmet food, gyms, awesome office spaces, etc., etc. piped over a zoom meeting.
As for WFH effect on the Bay Area, keep in mind that when people work from home, their direct environment becomes MORE, not less important. Would you rather be home based in the Bay Area with tons of things to do nearby, good weather, lots of nature, etc. or someplace with little culture, extreme temperatures, bland immediate environment, etc., etc. There is a reason many people, who can afford to do so, aspire to live in CA and especially the Bay Area. Working from home isn’t going to radically change those aspirations.
You're right that it has nothing to do with Covid-19. However, the biggest problem is that there was this HUGE management mindset that "work from home doesn't work" and "how can I trust my remote employees" and "we're going to work from the office because that's the way my dad did it, and his dad before him, and his dad before him...". That mindset suddenly has huge holes in it because things just got done without a hitch. Frankly I think our productivity at my work has gone up even more (although my work is one that will not be allowing remote work in future).
I'm in tech, and frankly those perks you see in the movies are overblown. Sure, you have ping pong and foosball tables, cafeteria, etc but once you get a little older and have kids family just trumps all of that into the ground. Basically, it's great for people for their first 5 years out of college, but as you settle down then space, schools, other family, etc become more important.
Until this year, I actually worked remotely more in 2005 and 2006 than I had in the past 13 years. The technology has been there forever, the trust factor wasn't though. Sometimes things don't happen either unless there's a herd moving towards it either, all these corporations just copy each other for the most part with the same 401k, medical, vacation, etc. So if the big tech companies make this standard, it will probably flow to all the rest just to compete for college students. I could actually see this being a longer term plus for towns that have major colleges, as instead of having to move to their job (the traditional thing that happens after college where everyone goes their separate ways) a lot of them can just stay put if they want. I can tell you for certain that I wouldn't have moved had I been given the option after college.
36 Replies
- Investor · Fort Collins, CO · Member since 2018 · 165 posts · 127 votes6y
Our organization with 500 people is now allowing people to work remotely, we also have an open office that allows people to come in when they have the desire allowing full autonomy in terms of where to work. We live in Fort Collins Colorado, so there is less incentive to get out of here, where there is more incentive to get out of SF from what I have heard and learned.
I see there being a long term impact of pay for small/mid companies, but larger companies with VC funding or higher profitability/cash on hand will pay premiums and attract the best talent.
^ while that is purely speculative and may not happen, I see that happening....
Overall I think the markets we have seen grow over the last 5-7 years will continue to have good performance as these workers rebalance across the nation with the newly allowed work from home culture happening.
- Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes6y
Oh Wow. I think that's good news! How is that going to affect their salary?
- Rental Property Investor · San Jose · Member since 2020 · 45 posts · 35 votes6y
Here some data that should help.
According to the poll 47% of bay area people want to leave. Now they have an option.
No more start-up millionaires going to happen in the next 3 years , so buying and hoping for appreciation that happened in 2017-2018 should be out too.
- Member since 2020 · 5 posts · 1 vote6y
What happens when employees leave HQ to a low cost area and then they loose their job? Most people think about leaving but most wont, below is exactly the reason why
https://www.theinformation.com/articles/where-are-most-tech-layoffs-not-silicon-valley
"Some of San Francisco’s most well-known tech firms have cut deep into their staffs in recent months. But much of the pain is being felt outside the Bay Area.
An analysis of public filings from 20 tech firms based in the region, including Uber, Lyft and Airbnb, show that three-quarters of employees laid off worked outside the region, typically in satellite offices around the world or in lower-cost locations like Portland, Ore., and Nashville...
- Rental Property Investor · San Jose · Member since 2020 · 45 posts · 35 votes6y
@Parth Choudhary Totally agree with your point, moving from SF is risky if you lose your job . So people who are not top performer or have long tenure they may not.
I would say from my personal experience , middle management who play politics, and IC who are connected to the managers they need to be there , right now they having a hard time justifying their jobs.
but a lot of people are moving to satellite offices for some time. The reason ppl had to be there at the office was facetime.
So all the good and cool people will leave and all the people who cannot find a job if they lose the job they "somehow" got will stay and keep sucking the corp dry. Kinda like the movie "parasite "We all will "lose" our jobs one day. The fear can trap you or set you free.
One of my reasons to build out my rental property units is to make sure when that happens, it will make no difference to me. will I not work after that most likely not, I like what I do but I want to do what I want not work for a paycheck. - Pleasanton, CA · Member since 2016 · 73 posts · 48 votes6y
@Account Closed
This is what I'm thinking as well. The Palo Alto's, Mountain view's and Cupertino's won't likely see a dip in demand because of the locations attributes, particularly the public schools, which consistently ranked at the top of the nation.
But area's that have seen demand surges led by single income individuals, without the need for the large above mentioned attributes, are likely to leave for greener pastures. There's incentive to pay high city rent in a run down part of town without the city lifestyle.
https://www.businessinsider.com/two-thirds-tech-workers-leaving-sf-bay-area-wfh-blind-2020-5
- Olathe, KS · Member since 2018 · 148 posts · 207 votes6y
Originally posted by @Amit M.:
I think the recent work from home hysteria is a fallacy. Conceptually, working from home has NOTHING to due with covid 19. If it’s so awesome, why wasn’t it adapted en mass years ago? Yahoo a couple years back even rolled back WFH. It’s a trend that will have some effect yes, but it’s being way over hyped. For two main reasons: 1- I’m not sure it will really provide long term benefits to the tech firms jumping on the bandwagon now 2- I’m not sure how many employees will ultimately like it, after the forced-Covid-novelty wears off. i.e. it’s hard to get all those cool tech co benefits like free gourmet food, gyms, awesome office spaces, etc., etc. piped over a zoom meeting.
As for WFH effect on the Bay Area, keep in mind that when people work from home, their direct environment becomes MORE, not less important. Would you rather be home based in the Bay Area with tons of things to do nearby, good weather, lots of nature, etc. or someplace with little culture, extreme temperatures, bland immediate environment, etc., etc. There is a reason many people, who can afford to do so, aspire to live in CA and especially the Bay Area. Working from home isn’t going to radically change those aspirations.
You're right that it has nothing to do with Covid-19. However, the biggest problem is that there was this HUGE management mindset that "work from home doesn't work" and "how can I trust my remote employees" and "we're going to work from the office because that's the way my dad did it, and his dad before him, and his dad before him...". That mindset suddenly has huge holes in it because things just got done without a hitch. Frankly I think our productivity at my work has gone up even more (although my work is one that will not be allowing remote work in future).
I'm in tech, and frankly those perks you see in the movies are overblown. Sure, you have ping pong and foosball tables, cafeteria, etc but once you get a little older and have kids family just trumps all of that into the ground. Basically, it's great for people for their first 5 years out of college, but as you settle down then space, schools, other family, etc become more important.
Until this year, I actually worked remotely more in 2005 and 2006 than I had in the past 13 years. The technology has been there forever, the trust factor wasn't though. Sometimes things don't happen either unless there's a herd moving towards it either, all these corporations just copy each other for the most part with the same 401k, medical, vacation, etc. So if the big tech companies make this standard, it will probably flow to all the rest just to compete for college students. I could actually see this being a longer term plus for towns that have major colleges, as instead of having to move to their job (the traditional thing that happens after college where everyone goes their separate ways) a lot of them can just stay put if they want. I can tell you for certain that I wouldn't have moved had I been given the option after college.
- Investor · Los Angeles, CA · Member since 2019 · 127 posts · 63 votes6y
Originally posted by @Jay Hinrichs:
Originally posted by @Amit M.:
I think the recent work from home hysteria is a fallacy. Conceptually, working from home has NOTHING to due with covid 19. If it’s so awesome, why wasn’t it adapted en mass years ago? Yahoo a couple years back even rolled back WFH. It’s a trend that will have some effect yes, but it’s being way over hyped. For two main reasons: 1- I’m not sure it will really provide long term benefits to the tech firms jumping on the bandwagon now 2- I’m not sure how many employees will ultimately like it, after the forced-Covid-novelty wears off. i.e. it’s hard to get all those cool tech co benefits like free gourmet food, gyms, awesome office spaces, etc., etc. piped over a zoom meeting.
As for WFH effect on the Bay Area, keep in mind that when people work from home, their direct environment becomes MORE, not less important. Would you rather be home based in the Bay Area with tons of things to do nearby, good weather, lots of nature, etc. or someplace with little culture, extreme temperatures, bland immediate environment, etc., etc. There is a reason many people, who can afford to do so, aspire to live in CA and especially the Bay Area. Working from home isn’t going to radically change those aspirations.
Amit, Great points I did a presentation at Google and from what i can see so many of the employees basically lived there .. everything is provided like you said and basically for free.. So easy for the younger folks to just rent a room go home to sleep a bit but work eat and socialize on the campus as well as other amenities.
Also I not positive but i think if you work for a CA company and move to another state you still pay CA income tax. I know that was the way it was for us in Portland OR.. we had employees that lived in WA.. they still had to pay Oregon state income tax.. I guess some of the huge companies might have that figured out where say Texas has no state income tax and your pay check comes from Texas not CA.. and you live in Texas..
My daughter is in finance at Intel in Hillsboro Or and she is WFH to the end of the year.. And feels it might be permanent .. she is only 20 minutes from the office so i guess she could pop in when needed.. and same distance to the Hillsboro airport were she can jump on the Intel Jets if she needs to go to San Jose or SAC or another campus.
I was talking to a reservation lady at Alaska airlines a few weeks back she has worked from home for 3 years now.. they monitor her screen .
Monitor her screen? Wow. That's extreme and would piss me off. I have worked from home since 2012. I'm a motivated person and I get my work done efficiently without the distraction of water cooler chats. I don't need to be monitored to make sure I look busy.
- Investor · Los Angeles, CA · Member since 2019 · 127 posts · 63 votes6y
Originally posted by @Aaron Taylor:
Originally posted by @Amit M.:
I think the recent work from home hysteria is a fallacy. Conceptually, working from home has NOTHING to due with covid 19. If it’s so awesome, why wasn’t it adapted en mass years ago? Yahoo a couple years back even rolled back WFH. It’s a trend that will have some effect yes, but it’s being way over hyped. For two main reasons: 1- I’m not sure it will really provide long term benefits to the tech firms jumping on the bandwagon now 2- I’m not sure how many employees will ultimately like it, after the forced-Covid-novelty wears off. i.e. it’s hard to get all those cool tech co benefits like free gourmet food, gyms, awesome office spaces, etc., etc. piped over a zoom meeting.
As for WFH effect on the Bay Area, keep in mind that when people work from home, their direct environment becomes MORE, not less important. Would you rather be home based in the Bay Area with tons of things to do nearby, good weather, lots of nature, etc. or someplace with little culture, extreme temperatures, bland immediate environment, etc., etc. There is a reason many people, who can afford to do so, aspire to live in CA and especially the Bay Area. Working from home isn’t going to radically change those aspirations.
You're right that it has nothing to do with Covid-19. However, the biggest problem is that there was this HUGE management mindset that "work from home doesn't work" and "how can I trust my remote employees" and "we're going to work from the office because that's the way my dad did it, and his dad before him, and his dad before him...". That mindset suddenly has huge holes in it because things just got done without a hitch. Frankly I think our productivity at my work has gone up even more (although my work is one that will not be allowing remote work in future).
I'm in tech, and frankly those perks you see in the movies are overblown. Sure, you have ping pong and foosball tables, cafeteria, etc but once you get a little older and have kids family just trumps all of that into the ground. Basically, it's great for people for their first 5 years out of college, but as you settle down then space, schools, other family, etc become more important.
Until this year, I actually worked remotely more in 2005 and 2006 than I had in the past 13 years. The technology has been there forever, the trust factor wasn't though. Sometimes things don't happen either unless there's a herd moving towards it either, all these corporations just copy each other for the most part with the same 401k, medical, vacation, etc. So if the big tech companies make this standard, it will probably flow to all the rest just to compete for college students. I could actually see this being a longer term plus for towns that have major colleges, as instead of having to move to their job (the traditional thing that happens after college where everyone goes their separate ways) a lot of them can just stay put if they want. I can tell you for certain that I wouldn't have moved had I been given the option after college.
Agreed. It's all about managers not being able to get their head around the fact that you are an adult and the work will still continue to be done if they can't see your computer screen. If you don't, it will be obvious when the work doesn't get done. Lazy, unmotivated employees will be lazy and unmotivated no matter where they do their work.
- Rental Property Investor · San Francisco, CA · Member since 2013 · 1k+ posts · 1k+ votes6y
@Brian Singh 1- you can’t base your opinion on one silly poll, taken during the height of a pandemic
2- these “X high percent of people want to leave the bay area” have existed since the early 90’s, and apparently have not exactly been prescient
- Rental Property Investor · San Jose · Member since 2020 · 45 posts · 35 votes6y
@Amit M. that is why work remotely is a game changer. Before you had to decide between your career and work life, now the math is 10% pay cut.
But we have bigger trends to worry about
1. Unemployment in general . We are higher than we were during the great recession and then home prices fell 35% . This is Bay area unemployment chart
2. Start-up lay offs. These are what caused the boom here and bust now. over 24,000 high paying jobs lost in SF area since march in start-ups . You won't see these numbers on CNBC.
Hope this help in you deciding to hold or sell your properties in bay area. I always rented here as Bay area never made sense to me.
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