Billionaire Blackstone CEO Stephen Schwarzman, the biggest owner of commercial real estate says remote employees 'didn't work as hard'

Blackstone, the largest owner of commercial real estate in the world, has reduced the size of its U.S. office holdings.

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Fuck you bud, our unit was more productive remote and we had the metrics to prove it.
Unfortunately, data doesn’t trump tiny minds who need to manage people in person, or obviate the type of bullshit rumors billionaires and those invested in commercial real estate tend to peddle.

Oh hey, look, another bag holder claiming that the contents of their bag are super important!

How would he even know? Did he run some comparative numbers between employees working from home and those that didn’t during the same time period? Or is he just making shit up?
- He knows because it is in his best interest for it to be so.
  As remote work is going to decimate the commercial realestate market.
- The answer will shock you!
- He's doing the same shit Elon does and is just pulling random bullshit out of his ass that makes his opinion sound less absolutely fucking stupid than it really is.

Fortune and Bloomberg ran this story. It's collusion. Bunch of old rich friends and neighbors pumping each others profits.

Our company posted record profits with everyone working from home. Maybe your guys just weren't working smarter, not harder.

Listen, all I am saying is that if all the billionaires disappeared over night, if you avoided mass communication media you would probably not know. If you took that same amount of collective wealth from the bottom up human society would collapse.

Has he been to an office before? Just because you're in an office doesn't mean you're "working hard." Lots of people do random web browsing, online shopping, etc., while at work and on the clock. Typical belief of old timers. They think your presence at a desk is somehow a magical indicator of a hard worker.

Another person that needs to "factory reset his life" and "start a new file" like the rest of us, without money and connections.
- New game minus.

Harder to trick employees to do the work of two other employees in remote format.

Even assuming that what he claim is true and can back with evidence, he would need to go further and show that loss of productivity caused by remote working is massive enough to: offset cost of borrowing commercial real estate (Or much larger real estate with corresponding maintenance bill in case on-site location is need for other reason), paying employee transportation, giving up remote talent, etc.
It is entirely his fault for not preparing for the time where people will actually bring out calculator when there was moon-sized sign post for several years.

30 comments