Welcome to the Jill on Money Podcast. It is Sunday, December 20th, and we are presenting the second part of our interview with Scott Galloway. He's an NYU professor, he's a serial entrepreneur, he is an author, he is a podcaster,

and his newest book is called Post Corona from Crisis to Opportunity.

And in the second part of our interview, we're going to talk about what happens next for commercial

real estate, all these companies where people are working from home?

What is the future of the urban life in these big huge hubs like the Bay Area,

in New York City? Here is more of our interview with Professor

Scott Galloway. So I want you to talk a little bit about how you see work from home and that trend what happens to that idea when kids go

back to school five days a week and when people are sort of used to this idea of hey I kind of dig the fact that

I can go grocery shopping in the middle of the day and get my work done by the end of the

day so how do those two ideas working from home and the impact on commercial real estate?

Where do you see that going post-COVID?

One of the largest asset classes in America is commercial real estate gross dollar value of around

12 trillion dollars. The first building I worked in at Morgan Stanley 1251

Avenue in the Americas they track how many people in the building for security reasons

it averaged during the week pre-COVID

to 8,500 people. It's averaging 500 right now. And once we have a vaccine, it'll absolutely

increase, but I don't think it's ever going back to 8500.

If you think about, remember there's all those grass used to see of the amount of time people

are spending across different mediums and you'd see that digital was 40% of people's time,

but only 10% of advertising. So we knew Google and Facebook were going to

boom because over time money kind of follows time and attention. If 20 to 30% of our

time shifts away from commuting and from being in an office, which I think it will, to the home,

...