BC BUSINESS
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I spoke to 5 global enterprises about remote work last week

Here’s what they told me about their plans for the future

[ a thread ] 💻🏠🌎

 💰 Office space: All of them have $Billion real estate portfolios

All of them plan to cut it by atleast 50% and as much as 70%
📍 Talent Access: The thing they are most interested in is access to talent

Rather than hiring the best person in a 30-mile radius of the office, they’ll hire the best person on the planet
📈 Efficiency: Their concern about remote work post-pandemic was that productivity would slip

It’s increased. They now know remote work works
🤔 Remote Dilemma: A big concern is losing their best people through not giving their teams what they want

Each company plans to let people work from home 60-100% of the time
🎡 Time Together: When they do have time together they are focussed on experiences

Designing in person time to maximise value and social connection
⏰ Outcome Measurement: Switching from the KPI to judge performance to outcome will be huge

Measuring this is a big problem most are still searching for ways to solve
😴 Avoid Burnout: They are seeing people burnout more frequently

Some will begin ordering time off on a monthly/quarterly basis to combat this
📆 Office Return: None of them have any plans to return to the office at all

The assumption already is that they won’t respond in 2021
⭐️ Talent Retention: Every company will continue to offer remote work post-Covid

They know they have to if they want to attract the best talent
🌍 Talent Decentralizing: People are moving further away from the office

A large proportion no longer live close enough to commute regularly
💬 Collaboration Quality: They aren’t concerned about collaboration quality

Where physical relationships existed prior the quality is unaffected

They see a challenge where people have never met teams
❤️ Culture Changes: People who were quieter in the office are having more of an impact

That change in culture has led to more creativity and better communication in several companies
🔐 Information Security: This is growing in concern. Less of an issue when it was a reaction to what happens

Big issue as companies lean into remote work more
🤕 Injury Risk: Reports of back and neck pain as high at 60% of team members

They need to do something to combat this rapidly
😃 Experience Quality: Companies want to do more to improve this

It’s been a huge focus in recent years while working onsite. Most companies are interested in ways to do this remotely
🧘‍♀️ Leadership Change: Command and control no longer works – a change in leaderships style is needed

Empathetic leaders are thriving. The importance of checking in on your team the most important skill
📝 Written Documentation: Building the organizational muscle of knowledge through documentation is of massive important

This will grow over time rather than leaving when an employee leaves
⏰Increased Flexibility: 9-5 working is dying – companies have seen workers productivity rising when working when they want

The thing they are most interested in exploring are asynchronous ways of working
👶 Childcare: Women are falling out of the workforce rapidly, and companies recognise they need to act to stop this now

They are thinking about ways they can help working parents with childcare

More from Chris Herd

Chris Herd
Chris Herd
@chris_herd
I spoke to 1,000+ companies over the last 6 months about their plans for remote work going forward

Here are a few things I've learned

[ a thread ] 💻🏠🌍

🏢 HQ's are finished: companies will cut their commercial office space by 40-70%

The will allow every worker to work from home 2-4 days a week, and come into the office 1-2 days a

🎡 home-office setup: Companies who cut their office spend will use that money to provide world-class setups for their teams at home

Companies who don't will lose people to companies who do

🌍 Fully distributed: ~30% of the companies we talk to are getting rid of the office entirely and going remote-first

Companies doing this have seen their workers decentralize rapidly, leaving expensive cities to be closer to family

⭐️ Access talent: The first reason they are going remote-first is simple – it lets them hire more talented people

Rather than hiring the best person in a 30-mile radius of the office, they can hire the best person in the world for every role
BUSINESS
CHRIS HERD
CHRIS HERD
@chris_herd
In the last 12 months I've spoken to 1,500+ companies about their plans for remote work in 2021

Here are a few 'request for startup ideas' based on what I've heard

[ a thread ] 💻🏠🌍

⭐️ Personal Branding: The best companies in the world will empower individuals to create and grow their personal brands

Companies who elevate their people will dominate in talent attractions and retention

🤖 Personal RPA: Robotic process automation will transform work for individuals.

No-code tools that enable workers to build bots that automate menial parts of their roles will be huge

🎮 Gamify Work: Tools that help people remain more engaged and empower them with a deeper feeling of achievement as they make progress and complete tasks

Teams will be rewarded as they progress and contribute more frequently due to faster feedback loops

🧘‍♂️Health & Wellbeing: Worker burning out due to overworking is going to be a big problem of remote work

Companies are looking for products that help workers avoid this by taking care of themselves better & being more mindful
MARKETING
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Chris Herd
Chris Herd
@chris_herd
I spoke to 1,700+ people about remote work in 2020

A few predictions of what will happen in 2021

[ a thread ] 💻🏠🌍

🎟 Remote competition: @FrancisSuarez is the first person to wield the power of Twitter to attract remote talent

Almost every region that has something which would attract people to move there will do the same thing

Incentives for remote talent to move will grow quickly

⏰ Async-first: People now see offices are instantaneous gratification adult kids clubs where sync work makes it impossible to get stuff done

Tools that enable async work are the most important thing globally remote teams need. A lot of startups will try to tackle this

🏢 HQ Slashed: Companies of every size cut their commercial office space by 50-70%

People will work remotely 2-4 days a week, and come into the office 1-2 days a week

Companies will provide a great setup at home for their workers

🤕 Injury explosion: Companies that don't provide the right tools & equipment begin to get Sued for Millions of Dollars

This rapidly becomes a key point of differentiation between companies they use to attract & retain talent
BUSINESS
Chris Herd
Chris Herd
@chris_herd
Remote isn’t just about the future of work

It’s a bridge to a higher quality of life

Rather than a job – and an office – being the anchor of our social lives, it’s about democratising access to opportunity

[ a thread ] 🌍🏠💻

Remote work should lead to individuals having more choice

Not just spending time with people selected by HR teams, where your deepest common bond is a shared reliance on the economic success of that employer – where if that changes relationships end

Offices have been great for certain demographics – but disqualified/discriminated against almost most others

- single parents
- caring for family members
- health conditions and impairments

The offices makes staying in office work incredibly difficult if not impossible

‘What about young people in shares apartments’

Absolutely.

But is this an issue with remote or the implication of expensive cities and needing to live close enough to commute daily?

‘There are mental health implications’

Absolutely.

But is this a natural issue with remote work, or an implication of COVID-enforced lockdown WFH where we can’t see family, friends, go to coffee shops or travel?
SOCIETY
Chris Herd
Chris Herd
@chris_herd
I've spoken to 2,000+ companies over the last 12 months about their plans for remote work going forward

Here are a few things I've learned

[ a thread ] 💻🏠🌍

🏢HQ’s are finished: companies will cut their commercial office space by 50-70%

The will allow every worker to work from home 2-4 days a week, and come into the office 1-2 days a week

🌍 Fully distributed: ~30% of the companies we talk to are getting rid of the office entirely and going remote-first

Companies doing this have seen their workers decentralize rapidly, leaving expensive cities to be closer to family

⭐️ Access talent: The first reason they are going remote-first is simple – it lets them hire more talented people

Rather than hiring the best person in a 30-mile radius of the office, they can hire the best person in the world for every role

💰 Cut costs: The second reason they are going remote-first is because it lets them be far more cost-efficient

Rather than spending $20,000 / worker / year on office space they can provide the best remote setup on the planet for $2,000 / worker / year
ALL

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General Warning: don’t work for or hire @IanMmmm - he’s a zero-integrity-self-serving manipulator. He destroyed an entire org at AWS.

He’s the reason I left @awscloud. He’s not just incompetent, he’s dishonest in the extreme. You’re throwing away your career working with him.

Also, pro-tip: record every call you have with a manager that you suspect is lying to you.

Here's what happened: I lost my shit when I didn't get promoted, because I was a child. That's on me. I had worked my ass off for 3 years and Ian said that if I moved to Seattle and signed a non-compete then I would get my promotion. I did those things - I didn't get promoted.

What does losing my shit mean? I sent a message to Ian and others that said "Fuck you, I'm not moving to the depressive hell hole that is Seattle. I'm not signing a non-compete. I'm going to stop working 100 hours a week for a company that doesn't give a shit about me."

Later, I found out that Ian had never actually reached out to anyone about my promo document. He just lied. He just ignored it until the last second because he was too focused on taking credit for my work for his own promo document. He got promoted.
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a h
a h
@alexharfouche1
#irrationalebullience If you want to understand the nature of this asset bubble and the epic capital mis-allocation at it’s heart, look no further than rates. CB’s only tool to push an uber-levered financial system that is highly interconnected through derivatives
(1/N)

away from it’s natural convergence path towards collapse is to create opposing forces to push it towards divergence. Meaning: force, through financial repression, market participants to rely on price continuation, in a way that makes it self-fulfilling.
(2/N)

The tool used is rates as it is the basis off of which all other financial assets are priced. Today any buyer of $UST across the curve up to 30Y is guaranteed a loss given reals are negative throughout. So the only hope of escaping this GUARANTEED loss
(3/N)

is to angle for capital gains, i.e a continuous move downwards in real rates to push for some capital gains in real terms. The longer the financial repression lasts, the further investors are pushed out the maturity and credit risk curves.
(4/N)

Here are examples to understand what exactly is happening. If an investors buys a 5 Y UST he is guaranteed to lose almost 2% in real terms, so making that up in capital gains is much harder given the v short duration.
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Nick Huber
Nick Huber
@sweatystartup
There is a lot of bad advice floating around online when it comes to real estate investing.

Time for a stiff drink and some stuff you might not want to hear.

A thread 👇

Most real estate influencers spend 99% of their time trying to sound smart.

They purposely make things too complicated.

When you do this for a while you can tell if a property is worth buying with a napkin and 30 seconds.

The problem with being a big real estate PE firm:

You need to do good deals year after year and deploy 10s or 100s of millions in capital.

It’s a hamster wheel making others wealthy.

The advantage of being you:

One building like this can change your life.


Buying real estate that doesn’t cashflow well because values have risen 10% / yr for 10 yrs while wages have risen 3% / yr for 10 yrs is very risky.

I don’t care how long your interest rate is “fixed” for.

Markets are cyclical. Trends change. Bankruptcy is real.

If you don’t know anyone with money and you have less than $250k of your own cash real estate isn’t the best way to make money.

Even a $500k property (like the one pictured above) requires $150k down and another $100k in cash reserves.
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S\u0142awomir D\u0119bski
Sławomir Dębski...
@SlawomirDebski
There’s rumour about confidential negotiations btn the Biden admin and the German gov. Their goal: to find a way out of the mess in which the whole transatlantic community finds itself because of Merkel’s support for Putin’s pipeline—Nord Stream 2

2/ The preferred solution for the Biden team would be to deny Putin the ability to exercise energy blackmail against Central Europe and Ukraine, while at the same time foregoing sanctions against Germany.

3/ Early in his career, Biden’s Secretary of State Anthony @SecBlinken had analyzed the decision of the Reagan administration not to levy sanctions against West Europeans for building the Siberian pipeline with the Soviets.

4/ See for example:

5/ Reagan decided to take a step back, calculating that the unity of the West was more important than the gas pipeline. Not even Lady Thatcher supported Reagan’s policy.
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@passivefool


https://t.co/xyXIh7QkaN
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SRI SWETHA VINAYAGAR, THIRUVALANCHUZHI, KUMBAKONAM
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While main deity is Shiva as Kapartheeswarar, the kshetram is famous for Ganesha, known as Swetha/Vellai Vinayagar (white Vinayak)

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