#10: Transformation of Commercial Real Estate: Horsesh*t Edition

In this enlightening episode of the Everlasting Business Podcast, hosts Ari Meisel and Gregg Schoenberg take a deep dive into the future of work and urban landscapes. They discuss the potential transformation of vacant office spaces into affordable housing, drawing upon an article from AP News as their reference point (Cities reviving downtowns by converting offices to housing⁠) The hosts also explore the historical 'Great Horse Manure Crisis' of New York City in 1894, comparing the current situation with the past to drive home the necessity for innovative solutions and fresh perspectives. The crisis, which was resolved not through top-down measures but via a technological revolution - the advent of the internal combustion engine - serves as an important reminder of how creative solutions often arise from unexpected quarters. Ari and Gregg further discuss the imperative of accepting and adapting to new ways of conducting business instead of trying to revert to pre-pandemic norms. They caution against 'dangerous thinking' that could hinder progress and emphasize the need to pivot towards the future. Key discussion points include: The potential for vacant office spaces to be repurposed into affordable housing units. The Great Horse Manure Crisis of NYC in 1894 as a historical precedent for innovative problem-solving. The shift in perception required to adapt to a new normal in business, particularly in the post-pandemic world. Innovative trends in living spaces, such as van life and converted cargo hotels. Recognizing and utilizing human capital more effectively in the modern, largely service-based economy. Tune in to this engaging episode for an insightful analysis of current business landscapes, historical lessons, and the promising opportunities that lie ahead. Keywords: Everlasting Business Podcast, vacant offices, affordable housing, horse manure crisis, New York City, 1894, innovation, new normal, business landscape, human capital, van life, cargo hotels, post-pandemic world.