Dropbox CEO slams RTO mandates, compares them to outdated malls and theaters

https://www.techspot.com/news/108227-dropbox-ceo-slams-return-office-mandates-compares-them.html

47•miles•8mo ago

Comments

chiefalchemist•8mo ago

He’s right, it is a different world now. However, many of these RTO companies purchased real estate (read: office space) based on the old paradigm. It’s no secret that commercial real estate is in bad shape. RTO helps to prop that up - ‘cause the alternative might be ugly circa 2007 / 2008.

linotype•8mo ago

The difference is leverage, I don't think it would be as bad as 2007/2008. One way or another they're going to be written down because many companies are having a hard time getting everyone back in the office.

999900000999•8mo ago

Enough people will RTO.

I’m lucky to be remote , but this isn’t going to last.

nobodyandproud•8mo ago

How many RTO companies are publicly traded, and held by firms with an interest in commercial real estate?

chiefalchemist•8mo ago

Doesn’t matter. Their banks finance real estate. It’s not going to easy to get a loan when your bank sees you as the one who hurt them.

That aside, it’s a house of cards. Shoes start dropping and no one knows what will happen. No one wants to know. The status quo of RTO is safer

ulfw•8mo ago

Vast majority of companies don't own their real estate. They rent it.

chiefalchemist•8mo ago

Doesn’t matter. Some company owns it. Some bank finances it. For the same reason the Fed wants low inflation (because deflation undermines the financial system), falling commercial real estate is bad for everyone.

Non-renters need RTO. So do renters.

tayo42•8mo ago

Looking at the job market recently for software engineers, there isn't alot of high paying remote jobs right now. A lot of companies have "hybrid" requirements.

GoToRO•8mo ago

In my locale it was the same. Ultimately those kind of companies didn't actually have the job and I ended up with a company that is 100% remote.

What I saw were companies that posted job ads (as in actual online ads) to hide the fact they were losing customers and had no jobs, companies that tested what the applicants would tolerate (RTO) and so on. Also a lot of companies posponed everything 6 months so the new budgets get in. They need the people but they can't afford them.

aiiizzz•8mo ago

Hybrid is such weak format, why would anybody bother, I don't understand.

FirmwareBurner•8mo ago

Because that's the only jobs available where they live? You don't understand why people wouldn't want to be unemployed?

morcus•8mo ago

I interpreted the comment as "why would management bother" not "why would the rank-and-file" bother

FirmwareBurner•8mo ago

>"why would management bother"

It's their money, they can ask for whatever they want within the legal employment framework. If they want people in the office it's their choice since they're paying for it.

motorest•8mo ago

> Hybrid is such weak format, why would anybody bother, I don't understand.

For some, it's not like they have a choice.

claudiug•8mo ago

this is how you avoid milions of people that will flock your email. try to post an job, 100% you it will flooded with south asian, with ZERO skill match, just random apply and hope for best.

notepad0x90•8mo ago

It's not just that it's an outdated mindset, but a fence-sitting mindset where they want the best of both worlds.

If you want people back in the office, here is an idea: start giving them actual offices, just like back in the day!

jgalt212•8mo ago

Preach!

Hoteling is just an abomination. You're treating your full time employees like piece workers.