Earlier today the comment section of an old post I wrote about UberX was revived with a discussion around technology and what it means for human capital.
The concern expressed was that technology and machines are going to put us all out of a job. And it stemmed from a discussion around driverless cars. Clearly we are headed in that direction and so eventually we will no longer need to drive or have people drive us around. This means that something that was once a job will no longer exist.
But I am not yet convinced that it will be as dire as some believe it will be – though it could very well necessitate some significant structural changes in the economy.
Here are two things to consider:
Marc Andreessen has written and tweeted a lot about the topic of “
Earlier today the comment section of an old post I wrote about UberX was revived with a discussion around technology and what it means for human capital.
The concern expressed was that technology and machines are going to put us all out of a job. And it stemmed from a discussion around driverless cars. Clearly we are headed in that direction and so eventually we will no longer need to drive or have people drive us around. This means that something that was once a job will no longer exist.
But I am not yet convinced that it will be as dire as some believe it will be – though it could very well necessitate some significant structural changes in the economy.
Here are two things to consider:
Marc Andreessen has written and tweeted a lot about the topic of “
robots eat all jobs
” and his argument is that this line of thinking often revolves around something called a
. This is the idea that there is a fixed amount of work to be done. And so when technology replaces humans, we are just making the labor pie smaller.
But the reality appears much different. Human wants and desires increase and we find new ways to put people to work. One of the examples I’ve heard Marc give, that I really like, has to do with buildings. In the past, there used to be a guy whose only job was to shovel coal into a furnace. He physically heated the building. But eventually technology did away with that requirement and that job. Is that not progress? Or should we go back to that in order to put people to work?
All this said, unemployment and job displacement are still serious issues for cities and countries. Which is why some people – including many capitalists – believe that minimum wages will not be enough going forward. We will also need to look at things like a “basic income guarantee” to redistribute wealth and ensure that, no matter what, everyone has a certain amount of money to live.
At first blush, this doesn’t feel right. But I think it’s important to remain open minded and engage in discussion. Hopefully we can do a bit of that today in the comments below.
Last month it was announced that Amazon will be taking 127,000 square feet across 5 floors in a new office tower in Toronto’s emerging South Core neighborhood. The space will be used for about 800 employees and they’re expected to take occupancy this fall.
At the same time, I learned that Amazon will be joining Apple (positioned 6 floors below them in the same tower) and Cisco in South Core.
The first thing I noticed when I looked at the data is that there’s a clear trend towards downtown. Perhaps that was the point of the study, but it’s still interesting nonetheless.
From Google and Deloitte to eBay and Aol, every single tenant in the CBRE list is or will be moving downtown (or to the shoulders of downtown).
Here’s what that looks like from a regional scale (red marker is where they were; green marker is where they are going):
. This is the idea that there is a fixed amount of work to be done. And so when technology replaces humans, we are just making the labor pie smaller.
But the reality appears much different. Human wants and desires increase and we find new ways to put people to work. One of the examples I’ve heard Marc give, that I really like, has to do with buildings. In the past, there used to be a guy whose only job was to shovel coal into a furnace. He physically heated the building. But eventually technology did away with that requirement and that job. Is that not progress? Or should we go back to that in order to put people to work?
All this said, unemployment and job displacement are still serious issues for cities and countries. Which is why some people – including many capitalists – believe that minimum wages will not be enough going forward. We will also need to look at things like a “basic income guarantee” to redistribute wealth and ensure that, no matter what, everyone has a certain amount of money to live.
At first blush, this doesn’t feel right. But I think it’s important to remain open minded and engage in discussion. Hopefully we can do a bit of that today in the comments below.
Last month it was announced that Amazon will be taking 127,000 square feet across 5 floors in a new office tower in Toronto’s emerging South Core neighborhood. The space will be used for about 800 employees and they’re expected to take occupancy this fall.
At the same time, I learned that Amazon will be joining Apple (positioned 6 floors below them in the same tower) and Cisco in South Core.
The first thing I noticed when I looked at the data is that there’s a clear trend towards downtown. Perhaps that was the point of the study, but it’s still interesting nonetheless.
From Google and Deloitte to eBay and Aol, every single tenant in the CBRE list is or will be moving downtown (or to the shoulders of downtown).
Here’s what that looks like from a regional scale (red marker is where they were; green marker is where they are going):
Companies know that their greatest asset is human capital. And they have quickly realized that a lot of young smart people want to live and work in dense walkable communities. They’re simply moving to where people already want to be.
So here’s a question for the Architect This City community: On a scale of 1 to 10, how important is a company’s location when determining whether or not you’d like to work for them? Let’s talk about it in comment section below.
Despite being rainy and unusually warm, I had a great time in Revelstoke, BC. I first heard about the city a few years ago when I told a close friend of mine (who is an avid snowboarder) that I was going to Whistler. He told me: “Forget Whistler. Go to Revelstoke.”
Revelstoke has been on the map for skiers and snowboarders for decades. Some consider it to be the helicopter skiing capital of the world. But there are only so many people who can afford $1,000+ per day skiing, so it wasn’t until 2007 when the first gondola opened up on Mount Mackenzie that people started calling Revelstoke the next Whistler, the next Jackson Hole, the next Zermatt, and so on.
As both a snowboarder and a real estate developer, this is of course exciting. Everybody wants to be a part of the next big thing and they want to call it before anyone else. That’s how you make money – by being right about things before the masses catch on and/or when everyone else thinks you’re wrong.
But 2007 happens to come before 2008. And 2008 wasn’t a kind year to the real estate community. Revelstoke was no exception.
The condos at the base of the mountain weren’t selling (about half of the ones that did sell were sold to Canadians I was told). Expansion plans to become the largest ski resort in the world were scaled back. And the resort teetered on the brink of bankruptcy. But since then, new ownership has taken over the resort and the sentiment on the ground seems to be that Revelstoke – as a real estate play – is somewhere near the bottom.
But something even more interesting is happening in Revelstoke, beyond just luxury condos at the base of a mountain. And since I was on the disabled list for the second half of my vacation, I had time to explore.
I was fortunate enough to meet a local entrepreneur (who happened to also be from Toronto) and his message to me was clear: Ontario is moving in. Both talent and capital from Ontario are starting to flock to this small mountain town of almost 8,000 full-time residents (it’s technically classified as a city). And from my experience at the bars and restaurants in town, he appears to be right.
Now, you might be thinking these people are just ski bums looking for an excuse to live in a mountain town. But is that such a unique and bad thing? Today’s up and coming generation is looking for lifestyle + career. And so if your city or community can offer both, you have a competitive advantage when it comes to attracting talent.
Revelstoke knows they have the outdoor amenities and the “epic pow”, so now all they need to do is bring the businesses. And that’s exactly what Revelstoke wants to do. If you’re an entrepreneur or business owner, Revelstoke wants you to move there. I’m serious. The vision is to create a sustainable live, work, and play mountain community in the BC interior.
I hope that happens.
Drop me a line if you want to talk mountains and business.
Post Update: The beautiful photo of Revelstoke at the top of this post was taken by Ian Houghton out of BC. This is his business website and this is his Facebook page.
Companies know that their greatest asset is human capital. And they have quickly realized that a lot of young smart people want to live and work in dense walkable communities. They’re simply moving to where people already want to be.
So here’s a question for the Architect This City community: On a scale of 1 to 10, how important is a company’s location when determining whether or not you’d like to work for them? Let’s talk about it in comment section below.
Despite being rainy and unusually warm, I had a great time in Revelstoke, BC. I first heard about the city a few years ago when I told a close friend of mine (who is an avid snowboarder) that I was going to Whistler. He told me: “Forget Whistler. Go to Revelstoke.”
Revelstoke has been on the map for skiers and snowboarders for decades. Some consider it to be the helicopter skiing capital of the world. But there are only so many people who can afford $1,000+ per day skiing, so it wasn’t until 2007 when the first gondola opened up on Mount Mackenzie that people started calling Revelstoke the next Whistler, the next Jackson Hole, the next Zermatt, and so on.
As both a snowboarder and a real estate developer, this is of course exciting. Everybody wants to be a part of the next big thing and they want to call it before anyone else. That’s how you make money – by being right about things before the masses catch on and/or when everyone else thinks you’re wrong.
But 2007 happens to come before 2008. And 2008 wasn’t a kind year to the real estate community. Revelstoke was no exception.
The condos at the base of the mountain weren’t selling (about half of the ones that did sell were sold to Canadians I was told). Expansion plans to become the largest ski resort in the world were scaled back. And the resort teetered on the brink of bankruptcy. But since then, new ownership has taken over the resort and the sentiment on the ground seems to be that Revelstoke – as a real estate play – is somewhere near the bottom.
But something even more interesting is happening in Revelstoke, beyond just luxury condos at the base of a mountain. And since I was on the disabled list for the second half of my vacation, I had time to explore.
I was fortunate enough to meet a local entrepreneur (who happened to also be from Toronto) and his message to me was clear: Ontario is moving in. Both talent and capital from Ontario are starting to flock to this small mountain town of almost 8,000 full-time residents (it’s technically classified as a city). And from my experience at the bars and restaurants in town, he appears to be right.
Now, you might be thinking these people are just ski bums looking for an excuse to live in a mountain town. But is that such a unique and bad thing? Today’s up and coming generation is looking for lifestyle + career. And so if your city or community can offer both, you have a competitive advantage when it comes to attracting talent.
Revelstoke knows they have the outdoor amenities and the “epic pow”, so now all they need to do is bring the businesses. And that’s exactly what Revelstoke wants to do. If you’re an entrepreneur or business owner, Revelstoke wants you to move there. I’m serious. The vision is to create a sustainable live, work, and play mountain community in the BC interior.
I hope that happens.
Drop me a line if you want to talk mountains and business.
Post Update: The beautiful photo of Revelstoke at the top of this post was taken by Ian Houghton out of BC. This is his business website and this is his Facebook page.
