What do you mean, billionaires? What about all the small businesses who used to get daily business from those office workers who bought coffee, lunch, drinks, and so forth?
The hubris and myopia of the 'eat the rich' mentality is galling and a little depressing.
> What about all the small businesses who used to get daily business from those office workers who bought coffee, lunch, drinks, and so forth
My expectation is that they’re pretty much dead already (after 6 months of this).
Even if not, while it sucks for them, I don’t think it will necessarily kill them, more vacancy may mean less customers, but it also means lower prices.
Presumably there were shops before SF became juppy heaven, so it will have them after.
billionaires are fine and few of them rely on real estate wealth.
The real losers are the middle class whos savings are invested in securities that rely on corporate real estate. and then obviously the lower class because they get screwed no matter what and they provide services easily stopped by covid.
plenty of people are doing fine, that's why they're going out to buy million dollar covid homes.
Billionaires suddenly losing their tenants is now economic catastrophe?
Is this another variant of ‘too big to fail’?
Those buildings won’t be going anywhere regardless of anything else.