In the event you’re studying this whereas working remotely, Elon Musk is judging you.
In a latest interview with CNBC, the tech CEO got here down laborious on work-from-home tradition, saying he thinks it is “morally fallacious.”
Musk, who instructed Tesla staff final 12 months to return to the workplace or “depart Tesla,” has lengthy been vocal about his perception that individuals are extra productive in particular person. Nevertheless, on Tuesday, he mentioned it is not solely about productiveness, it is also a “ethical problem.”
“The individuals who make your meals that will get delivered cannot do business from home. However you possibly can? Does that appear morally proper?” he mentioned within the interview. “It is messed as much as assume that they must go to work, however you do not.”
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Musk, additionally the CEO of SpaceX, mentioned he believes individuals ought to “put 40 hours in” and that it would not “essentially should be Monday via Friday.” He mentioned he works seven days per week, and that days in a 12 months the place he doesn’t put in “some significant quantity of labor” solely add as much as “about two or three.”
Regardless of Musk’s opinion, in a 2022 Cisco survey, 78% of respondents mentioned distant and hybrid work improved their general well-being. Nonetheless, there’s an argument for one evident drawback posed by distant work past the CEO’s argument of productiveness and morality: business actual property.
Distant work has upended the business actual property trade
Throughout the U.S., almost 20% of workplace areas are vacant, and people numbers nearly double in large cities like New York and San Francisco, the place lower than half of the cities’ workplace areas are occupied, in response to property administration firm, Kastle Methods.
The difficulty with vacant buildings is not simply the eeriness they possess or the mud they accumulate, however the trillions in debt they doubtlessly foreshadow. In keeping with Morgan Stanley, almost $1.5 trillion in business actual property debt can be due by the top of 2025, and a possible surge of mortgage defaults may very well be catastrophic for an already fragile banking system suffering from three financial institution failures in 2023 up to now.
Associated: Totally Distant Work Could Be A Relic of the Previous, In keeping with a New Report
Nevertheless, in response to the Bureau of Labor Statistics, 72.5% of companies mentioned their staff hardly ever or by no means labored from dwelling in 2022, marking a detailed return to the pre-pandemic variety of 76.7%.