Earlier quoted context omitted.
let us know if we can be helpful Seth. It's a tough, tough problem. But we're working our asses off to make it easier...
[deleted]
just pinged you!
42Floors (YC W12) Raises $12.3M Led By NEA
21–24 of 24 posts
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#22Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#23Earlier quoted context omitted.
Totally fair. I may disagree, but it's a fair assertion that the commercial real estate community won't want a tech company getting involved. It's what I heard from virtually everyone when I talked about starting this company. And for months, that was the response that I got. And then something funny happened. We started helping tenants find spaces. Real tenants, spending real money. Landlords got paid and brokers to…
This site seems short sighted. "Tech startups" will soon be an undesirable tenant. Landlords are looking for long-term leases from credit tenants (it's how you sell a building: the stable rent roll. No one wants unsustainable income from a hot sector). They are taking tech startups as tenants now because they overpay for space (with angel money), that would otherwise sit empty. Once the seed money dries up (or Round…
The current market is completely out of sync with the real value/costs of commercial property. The field has insulated itself from true price discovery for so long that it is starting to hemorrhage.
This isn't really about finding 'tech startups' a home, but rather that there's a chance that any new business starting up will need office space. And don't forget, current office-space tenants are going to start wondering why they're paying such inflated rates and the people across the way are paying 25-whatever% less for the same kinds of space.
Don't focus too much on new converts; think about everyone paying more for office space now than they need to.
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#24I can't believe this site is still around. Yes RE tech is broken, but their overly exuberant posts about the geek culture of the office and hiring practices aren't going to fix that. The fact is, RE brokers like to do deals with each other, landlords trust their brokers, RE deals are quirky. The office market has been on a rocketship ride for the past three years, probably exactly as long as 42floors has been around,…
> What happens when office leasing momentum stops?
The US economy will implode shortly thereafter because business creation and expansion has stopped.
It's easy to get jaded and pessimistic about businesses if you sole vantage point is HN, but the idea that new businesses and growth of existing ones will completely stop (and hence the demand for office space) seems pretty naive and myopic.