Tech giants are shedding workers and real estate. Employees-turned-entrepreneurs could win big—and snag sweet offices


Laid-off tech workers may be presented with a unique opportunity to start their own companies. Angel investor Jason Calacanis predicted on the All-In podcast that the big business winners of 2023 will be these entrepreneurs. He believes that those who come together in small teams to develop products and build their own companies will be particularly successful. 

Tech giants such as Meta, Microsoft, Salesforce, and Twitter are all cutting jobs and office space. This means that prime commercial real estate is becoming more affordable and accessible to startups. Subleased office space is often rented out at a discounted rate, meaning that those with limited funds can still benefit. 

The tech pullback has had a negative effect on landlords in cities such as New York and San Francisco, who were already struggling with empty buildings due to the pandemic. However, this could be a great opportunity for entrepreneurs to take advantage of the cheaper real estate and start their own businesses. 

Although some startups might choose to save money by having everyone work from home, there are many benefits to collaborating face-to-face. Disney CEO Bob Iger recently argued that in a creative business, nothing can replace the ability to connect, observe, and create with peers that come from being physically together. This could be especially true for tech entrepreneurs looking to make the most of their layoffs.

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