Covid-19

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This post is mostly on Meta (or Facebook) but I thought the take-away is how normalization to pre-covid 19 continues to accelerate.

As the pandemic started to end, there were only a few brave souls who were willing to come out and say "get your axx back to the office", Jamie Dimon been one that I can recall.

Yes, WFH (work from home) is a permanent feature now. But as times get hard, my suspect is that WFH will probably turn out to be more an exception than the norm. For example, this may disappoint some companies (eg. AirBnB) that are counting on this "work from home/anywhere" trend to accelerate.

ZUCK TURNS UP THE HEAT

By June of 2021, almost anyone could work wherever they wanted. At the same time, the company embarked on a massive hiring spree, growing its number of full-time employees by 62 percent, from 48,000 at the end of 2019 to more than 77,800.

During the June 30th call, parts of which were earlier reported by Reuters and The New York Times, Zuckerberg made clear that his company, in its pandemic era of expansion, had become too soft. It was time for a work culture reboot.

“I think during a lot of the COVID period, I kind of bias[ed] towards more flexibility and convenience for people,” he said. But now, he’d noticed people making personal appointments in the middle of the day, making it hard for even the CEO to get everyone to attend a meeting.

“Given the intensity of the environment that we’re in right now,” he continued, “I think now the right way to bias is more towards ‘let’s try to make the decision today, not wait until next week.’” From now on, employees were told to be available for meetings midday California time.

https://www.theverge.com/23277797/mark-z...s-pressure
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Personally I prefer WFH. My work can be done anywhere as long as VPN is available.

To me, not going to office saves me 45 minutes each journey leg and I can make my own lunch at home. Saves me on transportation and outside food expense.

However, the downside to businesses is that if consumers prefer staying in their own bubble and visit only their neighbourhood. There is not much economic activity for commercial operators and they may not have the means to sustain advertising when you cant attract that much footfall after all.
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(29-07-2022, 12:25 PM)CY09 Wrote: Personally I prefer WFH. My work can be done anywhere as long as VPN is available.

To me, not going to office saves me 45 minutes each journey leg and I can make my own lunch at home. Saves me on transportation and outside food expense.

However, the downside to businesses is that if consumers prefer staying in their own bubble and visit only their neighbourhood. There is not much economic activity for commercial operators and they may not have the means to sustain advertising when you cant attract that much footfall after all.

This is why I'm bullish the metaverse, people have always stayed in their own bubble, just that the (digital) bubble now is much bigger than it seems on the surface.
“If you buy a business just because it’s undervalued, then you have to worry about selling it when it reaches its intrinsic value. That’s hard. But if you can buy a few great companies, then you can sit on your ass. That’s a good thing.” - Charlie Munger
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There is this mental bias (I cannot remember what it is called) that we like to project our own experience/preferences onto what the general crowd wants (or should want).

As much as there are benefits for the individual, I also foresee many issues when we zoom out to the group. It is the Tragedy of the Commons problem:

(1) It is probably alright for 1 or 2 experienced and disciplined persons to WFH. But as a group gets bigger, more inexperienced and non-disciplined persons will appear. The end result is probably the overall productivity of the group starts to reduce.

(2) WFH becomes the "haves" and the "have not" workforce decides that it is time to switch to the "haves" camp. So the available workforce for service based jobs that require a physical presence (eg. restaurant workers, nurses, security guards, nannies) keeps shrinking. Job wages have to rise to attract people and this only feeds into the inflation spiral.
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Agree with Weijian. For example the internet was originally intended for transfer of information and facts.

As the group becomes bigger personal bias and vice became dominant. Rules then become necessary and the pendulum swings back. Police are there usually for <10% of the people but this 10% can create huge issue for the other 90%. That's the tipping point theory

Ideals and pragmatic implementation are often very different. It's good to have an ideal eventuality (which might never be reached) but implementation has to be pragmatic within constraints, including human psychology and incentive system

And the man is right: https://www.straitstimes.com/singapore/i...-practical
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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