And also, a 14% dip in office vacancy rate given a 30% dip in weekly office visits isn't bad!
I'd be curious to see what office space costs look like during the same time period. Given the number of high valuation companies out there - they may be willing to pay more for less space.
The NY Fed result is the load-bearing piece here, since it puts a number on the timing problem with the AI-displacement story. Remote work explaining roughly 64 percent of the young-grad unemployment rise, with the gap concentrated in remotable occupations and largely flat across AI-exposure levels, points to mentorship and training breaking down rather than tasks getting automated. The confound worth flagging: WFH and AI exposure overlap in exactly the desk jobs juniors used to learn on, so cleanly separating them probably needs a setting that moves one without the other.
Your data center chart is striking. China's version of this buildout has a structural difference worth noting: the infrastructure players are also equity partners in the AI labs. CATL just put $740M into the DeepSeek raise. BYD is entering humanoid robotics through a 50,000-dealer network. When the energy supplier and the manufacturer are co-investors in the model, the capital integration looks different from the US pattern of specialized vendors. The 'data center construction eclipsing transportation' story is real in both countries, but the stakeholder map is inverted. We track this at China AI Dispatch.
And also, a 14% dip in office vacancy rate given a 30% dip in weekly office visits isn't bad!
I'd be curious to see what office space costs look like during the same time period. Given the number of high valuation companies out there - they may be willing to pay more for less space.
I love your Charts of the Week series!
The NY Fed result is the load-bearing piece here, since it puts a number on the timing problem with the AI-displacement story. Remote work explaining roughly 64 percent of the young-grad unemployment rise, with the gap concentrated in remotable occupations and largely flat across AI-exposure levels, points to mentorship and training breaking down rather than tasks getting automated. The confound worth flagging: WFH and AI exposure overlap in exactly the desk jobs juniors used to learn on, so cleanly separating them probably needs a setting that moves one without the other.
excellent article. on data centers, maybe cover the new themes of “bring your own power” and “behind the meter”
Your data center chart is striking. China's version of this buildout has a structural difference worth noting: the infrastructure players are also equity partners in the AI labs. CATL just put $740M into the DeepSeek raise. BYD is entering humanoid robotics through a 50,000-dealer network. When the energy supplier and the manufacturer are co-investors in the model, the capital integration looks different from the US pattern of specialized vendors. The 'data center construction eclipsing transportation' story is real in both countries, but the stakeholder map is inverted. We track this at China AI Dispatch.