Major tech firms are offloading their Silicon Valley properties as they grapple with financial difficulties. These companies are divesting their campuses in the area, which have become symbols of the tech industry’s success. The move is seen as a sign of the changing times, as the tech sector faces a period of uncertainty.
#Big #tech #companies #selling #Silicon #Valley #campuses #struggle
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They are selling them because people are WFH.
I wonder who the hell is going to buy those spaces now? Would be nice to see some repurposed for more affordable living in the city.
real estate is due to crash next.
*sad trombone noise*
WFH is the future for most tech employees , they are also moving to areas without absurd cost of living and lots od problems.
Soooooo anyone think the rents will come down?
Oh no!
Anyway…
Good, going to the office is a dead concept.
Some of them are built on literal toxic sites, in particular, the Apple campus is. There are ongoing lawsuits about this, but I don’t think it’s widely covered
Please let this be real!
Next at 6: tech workers leave the Bay Area, en masse, and real estate prices return to normal
Damn google is building that self sustaining campus on Caribbean avenue in Sunnyvale, makes sense to sell there other campuses in Sunnyvale.
Nah, most of these places that set up “second headquarters” in recent years were setting themselves up to exit Silicon Valley way before this happened. It’s fucking expensive to own and operate out there, and as long as they can offload while prices are high, that’s a big bonus to shareholders.
A: the nypost? Really?
B: There is no actual struggle or in fact downturn ATM. WFH makes the campuses a waste.
But without their Silicon Valley campuses how will they connect through the blockchain to network with AI to synergize with local companies.
So this campus was built and designed for something that everyone figured out how to do from home? All these companies also became hyper efficient, and had way to high of a head count for a long time?
I’ve heard people talk about affordable housing, but what would the jobs be if all the jobs were at the campus? If these jobs can be done remotely, why would anyone pay for a higher cost of living employee? Just because a person costs more, doesn’t mean they are the best choice.
Imagine the money these companies could save if they just allowed their people to WFH.
I know people may not like this, but I think state or local government should buy the land to build affordable housing since nobody else will
Give them back to the Japanese families who originally owned some of that land pre-WW2.
EDIT: Apparently the Reddit hivemind disapproves of giving land to its rightful owners…
I’ll sleep in my car before paying someone for the privilege of staying in their shitty apartment.
Dot com meltdown part 2?
Clickbait. They buy and sell often. And not just in Silicon Valley. And all companies do this …
Even big tech cannot afford Silicon Valley? How? And what is the chance of startups thriving in a place where taxes are all time high?
It seems like Texas is going to be the new tech hub.
We are getting to the point where we simply have too many people. With AI, drones, robots, and being able to work from home humans are less and less necessary. There will always be need for certain things only humans can do, but there are just WAY MORE people than can be sustained with everyone being happy and healthy.
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tell me when its 30$ for campus, i am a bit of fan of campusiess myself. ill buy wone.
Why don’t they just rent it out? lol /s
Who owns these buildings.
If there is a struggle it is to impress stock holders as cost cutting has been a fad. Google and plenty of others are plenty profitable.
Good they need to convert all those empty spaces into living spaces and apartments. People need a place to live out there.
Oh no!
Anyway…
Poor tech companies, hopefully our government gives them a bailout.
This sounds like an article in an Silicon Valley episode about Pied Piper.
But about that return to office, we still need you in at least a few times a week.
They all live in Tahoe now. Probably planning on draining the lake to build more campuses.
Regulate and unionized so when they fail there’s something coming $ for the employees retirement and such