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Reuters
4 days ago
- Business
- Reuters
SPACs trigger bad case of Wall Street amnesia
NEW YORK, May 28 (Reuters Breakingviews) - Tragedy plus time is the formula for comedy, but on Wall Street it equals opportunity. Wait a while and even the costliest failures will be resurrected. Look no further than the phenomenon of cash-stuffed shells designed to find takeover targets, which are making an unlikely return just a few years after a fateful farce. Investors freely underwrote such blank-check firms in 2020 and 2021. In those two years alone, special-purpose acquisition companies raised some $250 billion with which to go shopping. Their 860 initial public offerings accounted for, opens new tab 62% of all market debuts, according to research outfit SPACInsider. Roughly half of them, however, failed to find a target within their typical two-year deadline, instead returning the cash to shareholders. They were the lucky ones. By custom, SPACs list at an initial price of $10. More than 90% of those that both found a merger partner and are still publicly listed trade below that all-important benchmark price as of early May. Dozens of them - including shared office-space lessor WeWork and electric-truck maker Lordstown Motors - collapsed, adding to the bonfire of billions. Disaster is no deterrent in finance, however. Onetime bond trader John Meriwether managed to raise money for an ill-fated second hedge fund following the $3.6 billion bailout orchestrated by the Federal Reserve of his highly leveraged Long-Term Capital Management. Jon Corzine was hired to run brokerage firm MF Global, and presided over its collapse in 2011, after he had already been ousted from both Goldman Sachs and the New Jersey governor's mansion. Before being elected U.S. president, Donald Trump kept luring investors into casino ventures despite his propensity for bankruptcy, opens new tab. Serial SPACsters flaunt a similar bravado. Among the 80 shell companies that have gone public this year or disclosed plans to do so, according to SPAC Research data, are ones sponsored by dealmaker Michael Klein, opens new tab, investment banking boutique Cantor Fitzgerald, opens new tab and buyout firm The Gores Group, opens new tab. The trio is part of a small club of 14 sponsors with at least eight SPACs apiece to their name, accounting for a combined 150. Even these impresarios have struggled, however. A fifth of their shell companies were liquidated. More than 40% are trading, or were sold, below the $10-a-share threshold, according to a Breakingviews analysis. Worse, there hasn't been much soul-searching about how to remake SPACs, beyond some enhanced disclosure requirements implemented, opens new tab last year by the U.S. Securities and Exchange Commission. There's a market nonetheless. This is partly because the money a blank-check firm raises is held in a trust typically earning interest from ultra-safe Treasury bills, and shareholders can get a refund on their contribution once the SPAC unveils a deal. Hedge fund managers therefore tend to regard shell companies as akin to fixed income investments with equity upside, which are especially appealing when markets swing wildly. The cash redemption rate in 2022 exceeded 80%. As CEOs and investors search for alternatives to sluggish traditional M&A and IPO markets, though, SPACs could represent a fresh opportunity, albeit with refinements. One would be to share the spoils, as started to become more of the norm. Sponsors typically receive a 20% stake in founder shares at a steep discount. Instead of keeping this entire 'promote,' setting some aside for other owners could persuade them not to redeem their shares. It would put real money on the table. Early SPAC advocate Chamath Palihapitiya boasted of making roughly $750 million from the vehicles he sponsored through his Social Capital, even as many other investors lost money. Another important factor is the size and cohort of investors a sponsor attracts by privately placing shares ahead of, or alongside, an acquisition. These private investments in public equity tailed off at the end of the boom. Their presence, depending on the reputation of the investors and the amount committed, can help validate a deal's valuation, one of the potential virtues of SPACs. Price discovery in an IPO can be dicey, as Venture Global (VG.N), opens new tab discovered earlier this year. The liquefied natural gas exporter had to slash its valuation after investors balked. Even then, shares tumbled when they began trading and are 48% below where they started. Simply having Fidelity or T. Rowe Price in a SPAC deal can't guarantee success, of course, but it at least adds an outside stamp of approval. Most important, however, is to seek healthier, more established companies as merger partners instead of unproven science projects. A SPAC is a poor substitute for early-stage venture-capital fundraising. The initial flood left a lot of firms hungry to do deals, though, in turn prematurely ushering too many private firms into publicly traded life. Gores provides a useful example of how deals can optimally work. In 2016, its first SPAC bought century-old Hostess Brands from buyout shop Apollo Global Management (APO.N), opens new tab and billionaire Dean Metropoulos for $725 million. JM Smucker (SJM.N), opens new tab paid $5.6 billion for the Twinkies maker seven years later. Verra Mobility's (VRRM.O), opens new tab share price also has more than doubled since another Gores SPAC acquired the electronic toll-payment service in 2018. The recent blank-check resurgence, by contrast, is sending mixed signals. Private equity firm Ares Management (ARES.N), opens new tab successfully extended the life of one it is sponsoring with only about 1% of shareholders redeeming, opens new tab, an indication of confidence. Backers including Soros Fund Management are kicking in $110 million of financing to supplement the $550 million of cash in its trust. And yet the vehicle is buying, opens new tab Kodiak Robotics, a self-driving truck technology startup that looks to be an incongruously early-stage venture for the New York Stock Exchange, in a $2.5 billion deal. Perhaps the biggest reason to remain skeptical about SPACs and their skewed economics is to consider which side of the trade buyout shops prefer: they are more likely to sponsor than sell into them. Collectively, private equity funds own stockpiles of aging companies that are proving difficult to sell or take public. If the industry starts embracing SPACs for exits, as occurred with Hostess and a handful of others, they might be worth a second look. For now, it's just a degenerative case of Wall Street amnesia. Follow @jgfarb, opens new tab on X
India.com
6 days ago
- Business
- India.com
How Goa City Became A Hub For Digital Nomads And Remote Workers
Goa has become a favored destination among digital nomads and remote workers given its small scale as a state but its cultural diversity in present times. Beyond its beaches along with leisurely living and traditional heritage Goa provides extensive opportunities for travelers. The transformation of this location into a remote professional center results from multiple interconnected elements which make it perfect for workers wanting both job performance and relaxation. The following list describes seven fundamental reasons why digital nomads and remote workers choose Goa as their preferred destination. 1. Affordable Cost of Living Digital nomads choose Goa as their remote working destination because the living expenses remain reasonable compared to other international locations selected by remote workers. The cost of renting a residential property in Goa proves much less expensive than the prices commonly found in San Francisco and London and Singapore. The expenses for food and transportation and entertainment remain affordable in Goa daily. Regular dining out is practical in Goa because the restaurants serve great food at prices every digital nomad can afford and coworking facilities support various payment options for entrepreneurs and freelancers. Digital nomads can achieve greater life quality while extending their money due to budget-friendly prices in this destination. 2. Thriving Coworking Spaces and Infrastructure The formation of coworking spaces created the ideal space for remote workers to establish Goa as their base. Various modern coworking facilities operate throughout Panaji along with Anjuna and Calangute where members access high-speed internet and ergonomic furniture and meeting spaces along with networking events. Derived from the WeWork concept 91Springboard and boutique workspaces join established venues to present streamlined settings for efficient work. The facilities create essential infrastructure along with community connections between like-minded people to allow newcomers easier integration into the area. 3. Stunning Natural Beauty and Relaxing Environment The beautiful countryside of Goa consists of several stunning aspects including beautiful beaches and scenic backwaters and verdant forests which create an excellent setting for productive work environments as well as peaceful relaxation time. Life's natural wonders along with its relaxed way of living create an environment which supports creative thinking and deep concentration. Digital nomads frequently relish how their work commitments permit them to detach from their computers to experience beach activities such as swimming in the ocean or watching sunsets on the beach. People chose this area because it presents both work obligations management and life harmony to anyone seeking urban stress relief. 4. Cultural Diversity and Vibrant Lifestyle The cultural heritage of India combines with Portuguese influences to establish Goa as a place which offers an enriched social landscape. The town of Goa presents both cultural events such as Carnival and Diwali together with architectural masterpieces like Old Goa's temples and churches for people to find fresh discoveries. Tourists can enjoy various recreational opportunities in Goa because the state provides entertainment choices spanning from nightlife to yoga retreats and music events like Sunburn. Digital nomads find pleasure in this festive atmosphere which lets them deeply engage with an active yet hospitable cultural environment. 5. Supportive Visa Policies and Long-Term Stays International travelers can now easily visit Goa via the e-Visa system introduced by India to obtain prolonged stays in the state. Internationally employed remote workers legally stay in their destination country through either tourist visas or business visas because no specific digital nomad visas have received global approval yet. Indian authorities work on multiple talent attraction programs through 'Startup India' to provide indirect economic benefits that appeal to digital nomads who want to contribute to local development. 6. Strong Expat Community and Networking Opportunities The population of international residents in Goa consists mostly of artists alongside entrepreneurs together with local freelancers who work remotely from various global locations. The mixture of different cultures in Goa produces multiple chances to make business connections along with social interactions and collaborative ventures. Coworking spaces alongside independent groups arrange ongoing meetings alongside workshops as well as events to facilitate connections between new arrivals with both local people and other expats in Goa. People conducting professional meetings in the area often develop both meaningful business partnerships and close friendships that improve the overall Goal living and working experience. 7. Improved Internet Connectivity Current internet reliability conditions in Goa successfully eliminated the previously challenging internet connectivity problems that affected rural parts of India. Modern urban zones possess dependable high-speed broadband which enables people to make video calls while performing cloud-based operations and handling large file transfers. Free Wi-Fi services available at many restaurants and cafes function as alternative sites for people who need fresh surroundings to work. Internet reliability has broken down a major obstacle for remote workers which makes Goa a leading digital destination. Conclusion Enterprise future development as a digital working hotspot in Goa happens because of perfectly matching attributes between reasonable rates, modern infrastructure, beautiful nature, cultural diversity, beneficial governmental strategies, involving community culture and technological progression advances. Destination Goa will maintain its popularity of attracting people working from unique locations because location-independent careers continue to grow in demand. Digital nomads alongside those thinking about leaving their traditional office can find an attractive life-work-play opportunity through Goa's seamless combination of business efficiency and paradise experience. The seven primary reasons explain why remote professionals worldwide choose Goa as their preferred destination.
Chicago Tribune
25-05-2025
- Business
- Chicago Tribune
After being holed up during the pandemic, renters are now seeking spaces that allow them to connect with other tenants
Among the many lux amenities offered at the Optima Verdana apartment complex in Wilmette is a pickleball court where Helena Harron spends several days a week playing pickup matches with other residents, many of whom have quickly become close friends. After growing up in Wilmette and moving away, Harron and her family moved into the luxury apartment complex in 2023, initially planning for a short stay while she and her husband looked for the right home to buy. But they quickly felt at home in the building, and while they still hope to purchase a home in the future, they are enjoying the perks that apartment living offers. 'We are still thinking about moving to a home, but the pressure is off,' she said. 'We're very happy where we are, so it's no longer a desperate must move. Instead if the right opportunity comes around, then we would.' Harron is one of the many Chicago residents in the last decade who have flocked to high-amenity apartment complexes, drawn by the convenience and built-in community they offer. The demand for spaces to live, work, exercise and play, often alongside other residents, has become a driving factor for new building developers. Face-to-face spaces are nothing new in large apartment complexes, but growing demand for them has driven developers to be more intentional and targeted in what they offer in the last few years. And the COVID-19 pandemic accelerated the need for buildings to offer more recreation and work spaces that can be shared by residents. The trend toward more comprehensive amenity spaces began well before the pandemic, said Meg Spriggs, managing director of development for Americas at Lendlease, which operates the Cascade in Lakeshore East and The Reed at Southbank. Shared office spaces became more prominent with the popularity of WeWork around 2013, and developers began to look more closely at how they could incorporate those spaces into their own buildings. The portion of so-called live-work-play developments — buildings that offer shared office and entertainment spaces — doubled between 2012 and 2020, according to RentCafe. In 2020, about 13% of apartments nationwide were in mixed-use developments, compared to 6% in 2012. 'When those types of very flexible spaces and community-oriented spaces started coming on the market, everyone started paying attention to how they might be able to address that in their own buildings,' Spriggs said. Before the pandemic, a trend toward making shared living spaces more like those seen in hotels and resorts also started to emerge, said Brad Lutz, managing principal and Chicago and National Multifamily Practice Leader at Baker Barrios Architects. Unit sizes have gotten smaller over the last decade, Lutz said, so the amenities have become an important accessory to tenants' daily lives. 'The unit sizes are getting smaller so we're making up for it by creating more options for them to have as their shared home space, if you will, in the amenities,' Lutz said. Apartment complexes have been expanding their amenity offerings for years, but the pandemic jump-started demand for one feature in particular: on-site work space. Remote workspace became essential. At the same time, residents who were holed up working from home also began seeking opportunities for recreation and connection in their apartment buildings. Between 2019 and 2021, the number of people working from home at least sometimes increased about 60%, and in 2023 close to 35% of American workers worked from home on some days, according to the U.S. Bureau of Labor Statistics. Tenants were hesitant about sharing spaces during the height of the pandemic, and developers initially tried to set up onsite workspaces in a way that maintained separation between residents. But people quickly became comfortable with the idea, and developers saw residents using those spaces more as working from home became permanent for many workers. 'I think in the beginning, co-working felt scary just because proximity was still sort of an unknown, but once we got through that and we got our vaccinations, we're right back to the community spaces, and plus,' Spriggs said. Now, with many residents working from home full- or part-time, developers have placed a premium on making sure shared office spaces cater to all the needs residents may have. Ali Burnham, vice president of marketing for Optima, Inc., which owns Optima Verdana as well as locations in Lakeview and Streeterville, said developers try to include a variety of coworking spaces that cater to different work styles and work-from-home needs. The buildings have multiple office spaces, meeting rooms, huddle rooms and areas where people can find a quiet corner to take calls or focus on their work. 'What we often find is in addition, people may work on the skydeck, or they may work in the party room,' Burnham said. 'And so you may find this sort of organic gathering of people or people separate. It sort of depends, and they have that option.' Developers are also beginning to offer more unique spaces, like maker spaces, jam rooms and podcast rooms, based on resident interests and a desire for more variety in amenity spaces. Many of the shared spaces developers are creating on-site have a wellness or fitness focus. Rather than having a fitness room with a few treadmills and weights, complexes will have pickleball courts, yoga studios, saunas, weight rooms and tracks, spread across multiple floors and tailored to different needs. 'I think today, life is very stressful. People's lives are demanding, and so when they're home, they want places for peace, places for exercise, places where they can focus on themselves, relax,' Burnham said. 'And so we try to provide as many of those spaces as possible.' For Harron, the pickleball court at Optima Verdana became a place to exercise, have fun and connect with other residents. Harron has made several friends she calls the 'pickleball crew' from pickup games on the court that have blossomed into close friendships. 'It's been a lot of fun to get to know people here and build a community here,' she said. 'It's a nice group. It's a supportive network, and we're even starting to celebrate people's ups and downs in life.' Harron's husband frequently uses the building's sauna and gym, she said, and her son often brings friends over to use the building's golf simulator. At Lendlease, developers make an effort to incorporate green spaces into the indoor environment to contribute to wellness and bring a piece of nature into the concrete city landscape. At Cascade in Lakeshore East, residents can spend their time in a conservatory, lush with green plants indoors and a walkway lined with rocks that feels like walking through a park. The windows overlook a green park outside the building. 'Winters in Chicago can sometimes be challenging, and it's just a really nice space to sort of feel like you're outside, but you're really inside, protected from the elements, with a lot of green plants and windows and visibility outside,' Spriggs said. The availability of green spaces also works into developers' efforts to enhance sustainability at their buildings, Spriggs said, which has become a growing demand among Generation Z residents. Developers have been paying more attention in recent years to outdoor spaces as well, building amenities that tie a building to the surrounding environment and offer more green spaces for residents. The growth in pet ownership since the pandemic has also driven developers to offer more outdoor spaces for pets to walk and play. 'I think a lot of buildings realized, hey, we need to relax our pet policies and realize that we're going to have a huge percentage of our residents that are going to want to have a pet and want to have spaces to take them,' Lutz said. When Optima Lakeview was in development during the pandemic, Burnham said the company looked for ways to make the outdoor amenities available year-round, even during the cold winter months. The building has an outdoor heated pool that residents can use all year, as well as fire pits on the outdoor terrace to keep residents warm in the colder months. Just as important as the amenities on site, developers said, is the programming that building managers offer for residents to use the spaces and connect with neighbors. Lendlease and Optima's buildings offer trivia nights, painting classes, movie nights and group fitness classes for residents to engage with the amenity spaces in ways that work for them. Building staff take input from residents on what type of events they'd like to see. 'Just because you build it doesn't mean it will get used and programmed on its own,' Spriggs said. 'And so I think that content creation and being really in tune with the community is important.' The programming also helps foster community among residents, bringing people together around shared interests, Burnham said. 'These events and clubs really give people that opportunity to very comfortably interact with their neighbors and figure out who they connect with, who has the same interest that they do,' Burnham said. 'And they start seeing each other at this class, they see each other at another event, and eventually a friendship can blossom.' Harron said she was surprised at how quickly she had made connections on the pickleball court that turned into more robust friendships. One of the group's members is a chef, and she started providing complimentary cooking classes to the group once a month, using the building's public kitchen. As she looks toward the future, Harron said she expects to maintain those friendships even if she moves out of the building. When she moves to a single-family home, she said she hopes to come back for rounds of pickleball and invite her friends in the building to her home as well. 'We've just made some really tight bonds in the year and a half that I've been here,' she said. 'We even go out once a month to celebrate each other's birthdays, and I imagine we're on our way to being lifelong friends.'
Irish Independent
23-05-2025
- Business
- Irish Independent
End-of-terrace coastal home from golden age of ‘Irish Brighton' offers B2 BER, four doubles and garden with fire pit
Asking price: €1.15m Agent: Sherry Fitzgerald (01) 286 6630 Bray in Co Wicklow was once dubbed the 'Brighton of Ireland'. Like the famous English seaside town, it has its own promenade, the well known Esplanade, which was built in Victorian times to attract tourists and home buyers seeking a life of leisure by the sea. The similarities were intentional, as Brighton offered inspiration to the man responsible for Bray's design as a seaside resort town. William Dargan, the son of a tenant farmer from Co Laois, was one of the most prominent Irish engineers of the 19th century. Known best for his work on railways, Dargan also designed and oversaw the building of Ireland's first railway line from Dublin to Dun Laoghaire in 1834, and later worked to establish many of the lines around the country. An extension of the line to Bray was added from Dublin in 1854, and had an almost instant effect on the town. With the improvement in access from Dublin, more people found it possible to live or holiday in Bray and in the 20 years after it opened, the population increased from 4,151 to 6,504. It was Dargan who first realised Bray's potential as a tourist destination. In 1859, he obtained a lease for a stretch of the coastline there from the Earl of Meath, and the first inception of the Esplanade seafront promenade was built, after which the later hotel was named. Dargan, alongside John Quin, the owner of Quin's Hotel (now the Royal Hotel), recognised the potential of the town and initiated its development as a seaside resort on a large scale. In 1859, Dargan paid for the first efforts at constructing the Esplanade which, according to an 1860 guide book, was 'open to everyone who chooses to enjoy its delightful expanse'. In 1881, additional work costing £20,000 was invested in improving it further. Just off the waterfront is No4 Warburton Terrace, an end of terrace four-bedroom house which dates from Bray's glory days as a Victorian resort. Today, it's home to Patrick Sammon and his wife Madeline. Patrick is employed as a leasing specialist with WeWork and is originally from Letterkenny, Co Donegal. His wife Madeline, who hails from Queensland Australia, works for Google. They have two children, Isla (three) and Charlie (almost one), with another on the way. The couple bought the 1862-built home five years ago. 'We'd been living in Grand Canal and were attracted by the opportunity to own a period house,' says Sammon. 'It also offered good bang for our buck.' The 2,433 sq ft period home came with most of its original features, and had been previously owned by an interior designer, who'd left her mark. However, Sammon and his wife planned to put their own stamp on it. 'It was, for the most part, in good condition, but the decor was not to our taste,' he says. 'The house was a pandemic purchase as we bought it between lockdowns,' he adds. 'With extra time on our hands, we did the decorating ourselves.' They painted all of the rooms, changing the colour scheme, the furniture and the artwork, and re-sprayed the kitchen, which now has navy blue and white glass-fronted cupboards with a white Ibiza marble counter. There's an island in the centre with a Belfast sink and a brass tap, with a splash back of white subway tiles. Double doors here lead directly to the south-facing back split-level garden. The sitting room is at the front of the house, and here the sash windows, wooden floors, cornicing and the ceiling rose are all original. 'The ceiling there is 10ft-high, which adds to the feeling of space,' says Sammon. There's a white marble fireplace here with a large antique mirror above it. There are seven fireplaces in total, two of which have woodburning stoves. The others have been capped off. 'When she first saw the fireplaces, Madeline fell in love with them because growing up in Queensland; she never had an open fire,' he says. The house has four double bedrooms and an attic room, which can also be used as a bedroom. After moving in, the couple quickly realised that the old utility room, which had a lean-to in bad repair, was in a great position at the back of the house. 'We realised it faced south and got the sun for most of the day, so we set about making it into another reception room,' says Sammon. 'We put down new hardwood flooring and added floor-to-ceiling glass sliding doors that open to the patio outside.' Unlike the rest of the house, this room is thoroughly modern. The beige walls and cream carpet provide a feeling of warmth, and a photograph of an old camper van and palm trees, reminiscent of backpacking Australia, takes up most of one wall. 'It's an amazing space for entertaining; especially in the summer as we open up the glass doors and the guests spill into the back garden. We've held many a barbecue in the back.' The garden has a fire pit and dining area. Here, they've added plants and some colourful cushions. 'It's our little oasis. We spend a lot of time out there in the summer when the weather is good,' he says. They replaced the roof four years ago, increasing the energy rating from a C1 to a B2. 'A potential buyer could achieve an A rating if they were to upgrade the windows in the house,' he adds. Bray's beach is 150 metres away, so the Sammons have taken up sea swimming since moving in. 'We also installed an outdoor shower in the back and have our paddle boards hanging on the wall,' says Sammon. 'There's a laneway at the side of the building which we use to access the back garden when we come in from the sea. 'There are a number of trendy coffee shops in the area and also a new wine bar called Conlon's, which my wife loves, just 50 metres from the house,' he adds. 'There's also a roof top sauna in Bray now. Living here is really a lifestyle.' It's also on the Dart line, offering easy access to Dublin city centre. The Sammons are selling the house now because an opportunity has arisen to buy a family member's home in Blackrock. 'We'll still be on the Dart line, but living here has been a wonderful experience,' he says. The house is on offer through Sherry FitzGerald for €1.15m.
News18
21-05-2025
- Business
- News18
‘How To Explain Power Cuts To My Nordic Boss?' Bengaluru Man Cries For Help
Last Updated: The user expressed how this has fostered scepticism from their CEO, making him anxious every time the power drops. If you are a resident of Bengaluru, you must know that the infrastructure of the city is often considered inadequate. Issues like power cuts, waterlogging, unending traffic, and inconsistent road quality are major concerns for people. Now, an employee working remotely for a Sweden-based IT company has ignited a discussion on Reddit after expressing frustration over frequent power cuts in Bengaluru. Sharing his ordeal on Reddit, he wrote, 'How do I explain frequent power cuts to my Nordic boss?" The employee shared how the company headhunted him for a remote role with meetings typically scheduled between 12:30 PM and 6:30 PM IST. He then detailed how frequent, long power cuts have led to missed crucial meetings. 'I work remotely for a small IT company, reporting directly to the CEO and CTO in Sweden. I live in Indiranagar, Bengaluru — supposedly a prime area — yet we have been experiencing frequent, long power cuts, 2–3 times a week. These outages often overlap with my meetings, some lasting for hours," the worker wrote. Expressing how this has fostered scepticism from their CEO, making him anxious every time the power drops, the employee continued, 'I stay in a small 1 BHK and can't afford an inverter. It is frustrating and embarrassing, especially since this area is considered well-developed. After a few missed meetings, my CEO now sounds sceptical — like he thinks I am making excuses. That has made things worse. I am anxious every time the power drops." 'I want to work — I am just stuck with unreliable infrastructure I can't control. It's 2025, and I live in the so-called tech capital of India, yet I am worried about losing my job over power cuts," he concluded. Soon after the post gained traction online, several Reddit users flocked to the comments section of the post to share mixed reactions. A majority of users suggested that he should take ownership and purchase affordable backup solutions, while some echoed similar sentiments. 'You need not have an inverter. You can get a UPS specifically for your router and laptop. They would be very nominal. Depending on capacity, they can give you 3-4 hours of power supply. I have a UPS for the router. Works great," a user commented. Another added, 'You gotta take ownership and do something about it, bruv. Don't create another headache for your employer. Take initiative and either get an inverter or use mobile data to stay logged in. Communicate to your bosses in advance that you are taking these steps to ensure your availability. Or go to a co-working space." 'My company (based in Europe) makes it a point for all remote employees to have access to strong, stable internet, no matter where you are in the world. They provide some support (e.g. WeWork pass), but generally the onus lies on us to ensure things work. In your case, unfortunately, you would have to take up the ownership and fix this issue," echoed a Reddit user. An account suggested the user buy a backup solution, stating, 'Bro, if you can afford to stay in a 1 BHK in Indira Nagar, which should be around Rs 20k rental a month at a minimum, you can afford an inverter. Take ownership of your roles and responsibilities." 'Umm move out? Considering its remote work, you can find better places elsewhere in Bangalore. Or even go to other cities where rent is low and you can afford an inverter. I live near BTM/JP Nagar, and we rarely have power cuts," an individual said. The individual has turned to logging the outages, unsure how to explain the issue efficiently to their international managers. First Published: May 21, 2025, 11:16 IST
