GenZedong

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Billionaire CEO Says Remote Workers Just Need 'a Nice Little Recession' to Return to the Office (www.msn.com)

submitted 1 year ago by SpaceDogs@lemmygrad.ml to c/genzedong@lemmygrad.ml

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Kept seeing this clip of Barry Sternlicht laughing about a “nice little recession” so I thought I’d share.

For what it’s worth, this isn’t the first time I’ve heard someone hoping for a recession. My stepdad told me this and I don’t understand why he’d want that.

According to him the only way to combat inflation is for us to go into a recession. But wouldn’t that cause a different form of chaos?

I’m uneducated on inflation vs recession but I know for a fact through lived experience that inflation sucks, and I’ve heard recession is also shit so why ask for one?

Anyway if this doesn’t belong here please let me know so I can post it somewhere else, I’m still getting used to what posts belong in what communities.

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[–] knfrmity@lemmygrad.ml 17 points 1 year ago (1 children)

Remote work will collapse the commercial real estate market rather than leading to any sort of boom. Remote work isn't particularly profitable for capitalists.

[–] queermunist@lemmy.ml 10 points 1 year ago

Well, it could be profitable if you take the stranded capital out of the equation. A company that isn't invested in commercial real estate can gain a lot from elimination of that expense.

However, that's a very small portion of the market. The vast majority of capitalists, in their relentless reach for yields, are invested in real estate to some degree or are entangled with companies that are invested. So, yeah, it'll collapse the market.