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posted by
martyb
on Saturday June 02 2018, @12:07PM
from the "The-answer,-my-friend,-is-blowin'-in-the...-windy-city?" dept.
from the "The-answer,-my-friend,-is-blowin'-in-the...-windy-city?" dept.
Facebook and Google are mapping big expansions in Chicago, where real estate searches by two of the nation's other technology giants have been the center of attention.
Menlo Park, Calif.-based Facebook is negotiating to lease more than 200,000 square feet in a recently constructed office tower at 151 N. Franklin St. in the Loop, according to sources.
Meanwhile, sources said, Google plans to add more than 100,000 square feet of office space in the city's Fulton Market district, where the company already has a large Midwest headquarters.
The new Facebook space alone would be large enough to accommodate more than 1,000 employees.
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Facebook and Google Expanding in Chicago
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QOTD:
"My life is a soap opera, but who gets the movie rights?"
(Score: 3, Insightful) by VLM on Saturday June 02 2018, @02:23PM (2 children)
Three observations:
In the case of FB, that new office would be about 4% of the total FB workforce. So they're not exactly moving the company to Chicago its the smallest of dinky expansions at a corporate level. Or rephrased there might be some impact on Chicago but there won't be any impact on Facebook.
Its interesting that the site engagement stats seem to have no relationship with hiring stats, the graph of FB engagement is flatlined objectively maybe starting its "MySpace" "LiveJournal" decline back to zero, but the graph of total employee growth is strictly exponential. Historically, when you see a business with flatline to declining revenue and exponential salary growth, its not a healthy long term indication. Its like something you'd see a tiny little dotcom startup do on the assumption some giant company will buy them and make it all good... but who's gonna buy FB? Are they expecting a lot more NSA FBI secret police style contract revenue, or outright federal nationalization like the railroads have periodically gone thru in various countries, or ...
Its downtown, the standard of living is terrible in the city. Its fascinating to meet people working in the city, they'll make twice as much as someone further away but the cost of living being ten times higher means a lifestyle of grinding poverty, so I feel bad for those future employees having to live worse than starving students, unable to experience a real adult life. The "golden lifestyle handcuffs" sure you get 2x the pay of someone 100 miles away, but you'll never own a dog, or have a family, or not have your car broken into or not have your wife raped, or afford good food and vacations. Its a rough place to live.
(Score: 3, Informative) by fadrian on Saturday June 02 2018, @02:31PM (1 child)
Funny thing. My son lives in Chicago. Downtown. He has a dog. And a baby. He's not living a life of "grinding poverty". Of course, he has a (very) decent job. I guess anecdotes don't prove anything.
That is all.
(Score: 3, Touché) by VLM on Saturday June 02 2018, @03:02PM
Oh don't get me wrong, its a nice place to live if you're rich or lucky, its just most people would be richer or luckier everywhere else for a couple thousand miles in every direction.