Met with the CFO of a multi-billion dollar tech startup this weekend.
He told me every smart CFO he knows is cutting office space to reduce burn instead of firing employees.
Pretty simple choice IMO:
Andy Berman
7,477 posts
Andy Berman
@berman66
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- Replying to @berman665/ If you can hire remotely and get access to a competitive talent pool, why would you not shed office space, focus on retreats and re-invest the savings? And the kicker? This CFO told me they have seen an increase in productivity + applicants for open roles. It’s a win-win-win
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00:00 - Replying to @berman666/ Offices are going to shift back to closed floorplans. The open concept plan is going to go away and more individual offices will return. People will need quiet places to take calls from the office
- Replying to @berman661/ In 2022, office space seems like a particularly terrible use of funds, especially in expensive cities. Cost per square foot in big cities like San Francisco can be upwards of $87.
- I keep hearing from our customers that Zapier has shipped some of the most interesting agentic behaviors out there. Our customers want to have an agent navigate to a website, scrape the content, and send the data to an app like Google Docs.
00:00 - Replying to @berman669/ Bottom line: if your company wants you back in the office when you don’t need to be in the office to do your work, that’s a red flag.