Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
MillionAcres
Real estate has always been a process that is document-intensive. But in a world where paper documents and in-person meetings are suddenly dangerous, the world of real estate closings is changing rapidly.
Bisnow
The Menlo Park, California-based company said Thursday it has laid off or furloughed 3% of its global workforce as the coronavirus pandemic continues grinding economies to a halt. “As parts of our business shut down, we unfortunately need to make some reductions in personnel through layoffs and furloughs,” Katerra CEO Michael Marks said in a statement.
Bisnow
A new study found that people in states and cities that implemented social distancing guidelines stayed away from office, retail and other types of commercial buildings after the order.
Fast Company
While she’s studying for a master’s degree at Northwestern University, Christine Kaya Hewitt and her husband, Jason, have been renting out three of the four bedrooms in their house outside Kansas City through Airbnb.
Bloomberg
Teddy Kramer worked at WeWork from 2013 to 2015. When he left the company, he had been a director of new market development, helping the co-working startup open new offices in different regions. He’d put in the time and been granted shares in the company. At first, he thought he might be able to sell them after WeWork’s much-anticipated initial public offering in September, but the IPO attempt flopped.
CITYLAB
As the dreaded coronavirus bolts across the globe, city after city has locked down, transforming urban business centers and suburban malls alike into veritable ghost towns. Our cities can’t stay in lockdown indefinitely. The economic costs — never mind the toll on our society and our mental health — is just too devastating.
TechCrunch
When you look at the most successful companies in the world, they are almost never just one simple service. Instead, they offer a platform with a range of services and an ability to connect to it to allow external partners and developers to extend the base functionality that the company provides.
Radius Data Exchange
With swathes of the global population on lockdown, remote working looks set to kick-start rapid and widespread digital upskilling. For real estate this won’t just mean employees become more tech-savvy – it will fuel a change across the entire sector, from the way buildings are managed to the future of our offices. Can the sector keep up? Emily Wright reports.
CBINSIGHTS
Fintech has been on a tear over the past couple of years, with record funding levels and rising valuations. With so many companies competing for market share, fintechs have prioritized growth and customer acquisition over profitability.
Bloomberg
The co-working business is rapidly retrenching. Industrious joins a long list of startups making deep cuts in recent weeks. Industrious is dismissing or furloughing about 30% of staff and reducing salaries in response to the economic slowdown caused by the coronavirus pandemic, the company said Thursday. The New York-based startup, which designs and manages office spaces for businesses seeking short-term and flexible leases, is backed by more than $200 million from investors such as Brookfield P…
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