Offices are likely to get bigger, not smaller. Major cities could hollow out. And more people will work remote.
Those are some of the takeaways from dot.LA's virtual strategy session held Tuesday on the future of commercial real estate with Brendan Wallace, co-founder and managing partner at Fifth Wall; Justin Bedecarre, co-founder and CEO of HelloOffice and Jen Nguyen, founding partner of TEAMWERC.
<p>We've rounded up three major points from the discussion below. Watch the full event below, and <a href="https://dot.la/st/newsletters" target="_blank">sign up for our newsletter </a>to get notified of future events. </p><h4>Smaller Cities Are Attracting More Knowledge Workers</h4><p>"Cities are in a fight for knowledge workers, they definitionally are. They want that tax base. They want that revenue base. They will try to appeal probably to younger, more mobile millennial, Gen Z workers and attract them directly and say, 'well once there's a core base in Salt Lake City, or in Wichita, or in Tampa well, that company will have to open an office there.' </p><p>It's more of a government to consumer marketing strategy than a government to corporation marketing strategy, and we're in the very early innings of that. And so, that literally would not have been possible. I think if two things hadn't happened, one, the forward progress of cloud-based collaboration tools didn't exist...And the second thing is (if) COVID hadn't happened because COVID was this unplanned forced test of the integrity of those tools and the integrity of a workforce that's working remote." </p><p><em>— Brendan Wallace, Fifth Wall</em></p><h4>More Employees Will Work Hybrid</h4><p>"The vast percentage of employees will be flexible.. And so they'll be close to a workplace. Maybe they'll work five days a week, maybe they'll work in the office one to two days a week, and go to the office to make plans to collaborate with their team to jam on the whiteboard. </p><p>"I think, at least you know 70 to 75% of all employees will be adopting the hybrid model." </p><p><em>— Justin Bedecarre, HelloOffice</em></p><h4>At the Office, There's More Space</h4><p>"We've seen the loss of 40% of real estate...because of the six-feet social distance. </p><p>"In some cases where we're talking about the knowledge-based tech workers, typically in San Francisco, you're seeing an average of 100 to 250 square foot per person. Now, after layering the social distance guidelines of the minimum six foot — which we don't even know today, if that is enough — you're needing at least 300 to 350 square feet more per person." </p><p><em>— Jen Nguyen</em></p><p class="shortcode-media shortcode-media-youtube">
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<small class="image-media media-caption" placeholder="Add Photo Caption...">Copy of dot.LA Strategy Session: Office 2021, in Partnership with HelloOffice</small>
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<a href="https://www.youtube.com/watch?v=bwne0vrRHhQ&feature=youtu.be" target="_blank">www.youtube.com</a>
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<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQxMjkxOC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzNTM5OTIxN30.WlaRjqg7McLgzovO9lfxPemfYv7IOSQiC3mzjB4b6Is/image.jpg?width=980" id="04fb3" class="rm-shortcode" data-rm-shortcode-id="94ad06c75f5564b2041d87bfe32b6d8c" data-rm-shortcode-name="rebelmouse-image" />
Jen Nguyen, Founding Partner of TEAMWERC
Jen Nguyen, Founding Partner of TEAMWERC
<p>Jen Nguyen is a founding partner of TEAMWERC, delivering best in class turnkey workplace as a service. She has a back to back track record building hyper growth inclusive award winning workplaces from the ground up. Founding workplace leader at Pinterest, Zynga, Tesla Motors and SAP Successfactors from their infancy through IPOs.</p><p>TEAMWERC will create a mindshift in how you approach your workplace bridging the gap between people and places, offering a plug and play expert team embedded into your organization. </p><img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzMyODMxMS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1NDY3MjAyMH0.TWThylu42WP8TYrjRa2qwYBCPfopj0q4zig_P-ym67c/image.jpg?width=980" id="0615e" class="rm-shortcode" data-rm-shortcode-id="764902fbee52dc0a22d8eca583a9a42a" data-rm-shortcode-name="rebelmouse-image" />
Brendan Wallace, co-founder & managing partner at Fifth Wall
Brendan Wallace, Co-Founder & Managing Partner at Fifth Wall
<p>Brendan Wallace is a co-founder and managing partner at Fifth Wall, where he guides the firm's strategic vision.</p><p>Prior to starting Fifth Wall, Brendan co-founded Identified, a workforce optimization data and analytics company that raised $33 million of venture funding and was acquired by Workday (NYSE: WKDY) in 2014. He also co-founded Cabify, the largest ridesharing service in Latin America, and has been an active investor, leading more than 60 angel investments including Bonobos, Dollar Shave Club, Lyft, SpaceX, Clutter, and Philz Coffee.</p><p>Brendan started his career at Goldman Sachs in the real estate, hospitality, and gaming group before joining The Blackstone Group's real estate private equity practice.</p><p>Brendan is from New York City and currently lives in Venice. He graduated from Princeton University, where he received his BA in political science and economics. He received his MBA from the Stanford Graduate School of Business.</p><img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQxMjkyMC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0ODY4NDAzM30.tIGIXP4ZvQxgZwJZ899q82VGiCuByUVlbI1DXWvq7Eg/image.jpg?width=980" id="bda89" class="rm-shortcode" data-rm-shortcode-id="38959fbaa2523ad400b02d242ef5bc38" data-rm-shortcode-name="rebelmouse-image" />
Justin Bedecarre, Co-Founder & CEO of HelloOffice
<p>Justin is Co-Founder and CEO of HelloOffice. a modern commercial real estate brokerage on a mission to help everyone find a workplace they love. By empowering experienced brokers with innovative technology, HelloOffice turns the painful traditional process of searching for office space into a faster and more collaborative experience. <br></p><p>From headquarters to hybrid workplaces, HelloOffice works with companies like Palantir, Y Combinator, Afterpay, Brex and many others around the world. </p><p>Justin started HelloOffice in 2016 in San Francisco, and before that co-founded 42Floors which was acquired by Knotel.</p><img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQwNDk2OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzOTI3MTUyNX0.2hKVP8Tdj7rqPMGQ8elqkW-o5l0KnLxDAwdlTkxDJzs/image.jpg?width=980" id="0b424" class="rm-shortcode" data-rm-shortcode-id="e96166984a60c8b0d9ad71f904441b61" data-rm-shortcode-name="rebelmouse-image" />
Ben Bergman, Senior Reporter
Ben Bergman, Senior Reporter at dot.LA
<p>Ben Bergman is the newsroom's senior reporter, covering venture capital. Previously he was a senior reporter/host at KPCC, a producer at Gimlet Media and NPR and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to NPR and Marketplace and has written for The New York Times. Bergman was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. He enjoys skiing, playing poker, and cheering on The Seattle Seahawks.</p>From Your Site Articles
- How Will Offices Change After Coronavirus? - dot.LA ›
- Nearly Half of Employees Want to Continue to Work From Home ... ›
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- How to Maintain Culture When Employees go Remote - dot.LA ›
- Guest Column: Here's How Businesses Can Make Sure their ... ›
- The Future of Real Estate: Bigger Offices and Smaller Chains - dot.LA ›
- HelloOffice Raises $20 Million Series A - dot.LA ›
- Fifth Wall Venture Firm Is Now a B Corporation - dot.LA ›
- The Future of Real Estate: Bigger Offices and Smaller Chains - dot.LA ›
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Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.
Today:
- Peacock Will Be Available on Google and Android Devices in July
- Snap Debuts at 'NewFronts' Showcase for Potential Advertisers
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Peacock Will Be Available on Google and Android Devices in July
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQxMjk3My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NTcyNTcyM30.ovhO534ibGlL_YlkstiBbv4VDVVToMLOkyajgZw3Fys/image.png?width=980" id="a5ac1" class="rm-shortcode" data-rm-shortcode-id="390b7cd8d014d507d9ac9be3e7cac3f9" data-rm-shortcode-name="rebelmouse-image" /> <p>NBC's new streaming service Peacock has added Google and Android devices — including Andriod TV and Chromecast — to the apps that will stream its nearly 15,000 hours' worth of content beginning July 15. NBC has already announced plans to launch on Apple and Xbox.<br></p><p>Streaming will be free (but not ad-free) through October 15. Viewers can also level-up to the ad-free service for an additional $5/ month. </p><p>The service <a href="https://dot.la/nbc-peacock-streaming-service-2645721883.html" target="_blank">launched in mid-April across Comcast's platforms</a>, where it hopes to add value for its parent company's 28.6 million customers. </p><p>Peacock's library will include a flock of NBC favorites like Parks & Recreation, 30 Rock and Law & Order: SVU; movies from Universal Pictures and Dreamworks Animation such as Jurassic Park, E.T. and Shrek; and news segments, talk shows, original series and content from Telemundo. Peacock will also offer a selection of live sports (once those migrate back), and in 2021 will have exclusive rights to The Office.</p><p>As we <a href="https://dot.la/nbc-peacock-streaming-service-2645721883.html" target="_blank">reported in April</a>, speculation is that part of Comcast's strategy is to retain Pay-TV customers while also guiding a controlled move toward streaming, so it doesn't lose out as more customers shift toward cord-cutting. </p>Snap Debuts at 'NewFronts' Showcase for Potential Advertisers
<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="3495a1de57e0e24a1b96e5e0c7d82395"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/HQ7JwIwrWY0?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p>For the first time, Snap is presenting at today's NewFronts, the digital media world's annual summit of presentations to woo prospective advertisers. The event is being held virtually this year.<br></p><p>The Santa Monica-based firm describes the occasion as "a culmination of hard work that's been happening at Snap around content and video advertising for years."</p><p>Snap will be highlighting a collection of data points:</p><ul><li>As of June 22, Snapchat reaches over 100 million people in the U.S., including 90% of people aged 13-24</li><li>229 million people worldwide reportedly use the app every day</li><li>The company now also has more daily users aged over 25 than all of Twitter's self-described "monetizable user base"</li><li><span></span>Total daily time spent watching shows on Discover more than doubled from Q1 2019 to Q1 2020</li><li>Average time spent watching by people over 35 also doubled from Q1 2019 to Q1 2020</li></ul><p>Snap will also share results of a study from Nielsen that found, for example, that a Bud Light ad campaign on Snap was nine times more efficient at reaching the target audience than television advertising. Nielsen also found that the platform provided an average 23% bump on top of TV campaigns, across 20 separate ad campaigns that appeared on Snap. </p><p>The company will also be announcing a new unscripted original series at the event, as well as the renewal of <em>Driven</em>, a docuseries that the company says reached over 15 million viewers in its first installment.<br></p><p>Across all Discover, 45 shows have reached monthly audiences exceeding 15 million viewers, the company says, and the platform now operates with over 350 partners in 15 countries. </p>From Your Site Articles
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L.A. Tech Updates: L.A. Seed Rounds Are Getting Bigger; the Future of Facial Recognition Technology
Jun 15 2020
Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.
Today:
- Anaheim's 'Star Wars' Celebration is Canceled
- L.A. Congressman Looks to Limit Police Use of Facial Recognition Technology
- L.A. Seed Rounds Are Getting Bigger
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Anaheim's 'Star Wars' Celebration is Canceled
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzM5NjA4OS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzNDQ2ODU4NH0.LPvmGRsGbslqcx53_BTGjVK4FsB3fQAJZnpRmLTmM-M/image.png?width=980" id="484eb" class="rm-shortcode" data-rm-shortcode-id="066b55f131795e50ab5333d212481ba4" data-rm-shortcode-name="rebelmouse-image" /> <p>Chalk up another disappointment to the coronavirus. The organizers of Anaheim's 'Star Wars Celebration' are calling it off this year, due to concerns about hosting an indoor event in the midst of a global pandemic. Would-be attendees can exchange their tickets for the 2022 event (plus a limited edition stormtrooper pin), trade them for merch or get a refund. You can find more information <a href="https://www.starwarscelebration.com/Announcement/" target="_blank">at their website</a>. </p>L.A. Congressman Looks to Limit Police Use of Facial Recognition Technology
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzM5NjAwNS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyNjI3NjczM30.NvxtsBP9zgWledc_WhUxnmWLWb_hNJDM4DohcOmZhv8/image.jpg?width=2000&coordinates=0%2C564%2C0%2C1539&height=1500" id="3e4af" class="rm-shortcode" data-rm-shortcode-id="6844a1cd6aa6e804f0fb1b78cdde4c03" data-rm-shortcode-name="rebelmouse-image" /><p>Amazon, IBM and Microsoft either pulled sales of their facial recognition technology to law enforcement or halted their business last week as pressure from civil rights leaders, companies and legislators grew over how the surveillance technologies were being used.</p><p>The issue has played out for years in the Los Angeles communities Congressman Jimmy Gomez represents. Activists regularly object to the use of technology that has the potential to exacerbate racial bias. Now, it has exploded anew on the national stage in the aftermath of the George Floyd protests. </p><p>Gomez, who sits on the House Oversight and Reform Committee, <a href="https://www.politico.com/news/2020/06/13/facial-recognition-congress-316235" target="_blank">told Politico </a>last week he's drafting legislation that would place restrictions on local and state police from using the technology. </p><p>"If facial recognition is considered the future of policing, it's just going to perpetuate the same biases that are already out there because it's in and of itself is biased," he told <a href="https://venturebeat.com/2020/06/13/rep-jimmy-gomez-on-the-future-of-facial-recognition-regulation-in-congress/" target="_blank">VentureBeat</a> in a separate interview. "It's been flawed. It's been shown to be flawed and can [misidentify] people of color, mainly black women, Latinos, African Americans — and the darker the skin color, the more mistakes it makes. That's going to lead to more negative interactions between law enforcement and people of color, which can lead to deadly consequences."</p><p>Gomez told the outlet Amazon gave him the run around as Congress probed the issue. </p><p>"We need them to cooperate and give us data so we can be better informed on how to craft this legislation," he said. "If not, we'll just work with the civil rights groups, and we'll just try to pass it through, and they're going to most likely try to oppose it, in my opinion, at the end of the day if they don't like it."</p>L.A. Seed Rounds Are Getting Bigger
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzM5NTU4Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1NDczNDc0N30.nhjwavls4HXV4ESNMds8Ar6qQTGKiv8sx4exehIxpuE/image.jpg?width=980" id="ad3cf" class="rm-shortcode" data-rm-shortcode-id="86120e1aa6b35af5718787a31535cca1" data-rm-shortcode-name="rebelmouse-image" />Image from Amplify.LA
<p>In the first quarter of this year, 19 Los Angeles startups raised seed rounds of more than $2.5 million. The average seed round raised was $4 million, according to <a href="https://blog.amplify.la/la-funding-up-despite-slowdown-q1-la-seed-deal-report-58a29f48adfd" target="_blank">Amplify.LA's latest LA Seed Report</a>.</p><p>"While nothing new for larger ecosystems like SF and NY, it's a relatively new phenomenon here in L.A.," wrote Conner Sundberg, an associate at Amplify.LA.</p><p>Amplify also found seed activity in Q1'20 was nearly double that of Q1'19. 38 companies closed seed rounds in the first quarter while fintech re-emerged as one of the top dealmaking sectors.</p><p>"Since starting this project years back, we've noted more funds being raised in L.A., a higher percentage of capital coming from local investors, and early stage teams tackling more varied verticals," wrote Sundberg.</p><p><em>— Ben Bergman</em></p>From Your Site Articles
- Los Angeles Venture Deal Activity Is Up in Q1 - dot.LA ›
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