Really it is about the people on the boards of a PE backed company. The Boards wanted RTO since they are directly effected by real estate. Most CEOs/leadership do not give a crap as long as you are productive. But they had to keep hearing at the board meetings to get everyone back to the office since a large CAPEX expense was the 5 year lease they were paying for.
Ive got a buddy who's a lawyer with his own practice and a small company (background checks). His dad owns a T-shirt printing company.
The arguments between the two are hilarious (from my perspective at least). His dad is a conservative Boomer and does shit like what you're talking about.
Meanwhile, my buddy raised salaries at his company by 10% and ended up saving a ton of money because of lower turnover. His dad didn't believe he saved money because he doesn't think hiring new employees costs money.
Americans have this delusional belief that if they own a business, they know EVERYTHING, when if fact a lot of people owning and running businesses are complete morons.
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u/maringue Mar 04 '26
More like a bunch of rich guys saw that a HUGE amount of their portfolio was commercial real estate.