Abstract
Jay Chiat has always been a maverick. His firm, Chiat/Day, created the famous 1984 television commercial for the first Macintosh computer and helped Steve Jobs convince or, more accurately, force Apple’s board to air it during the Super Bowl.
In the ad, a group of pale workers in bluish-gray uniform is marching inside a bluish-gray building and then sitting down to watch an authoritarian Big Brother give an emphatic speech about the future. Out of the blue, an athletic woman in a bright white shirt and orange shorts runs into the room and hurls a hammer at Big Brother’s digital image. The workers are liberated!
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Notes
- 1.
Estimates of the value of global real estate vary. See, for example: Bert Teuben and Hanskumar Bothra, Real Estate Market Size 2017 (New York: MSCI, 2018); Savills World Research, Global Real Estate: Trends in the World’s Largest Asset Class (London: HSBC Group, 2017); Paul Tostevin, “How Much Is the World’s Commercial Property Worth?”, Savills Group, last modified June 18, 2018, http://www.savills-studley.com/blog/article/246253/commercial-property/how-much-is-the-world-s-commercial-property-worth.aspx.
- 2.
For a detailed explanation of how cap rates are calculated and how they reflect demand, growth, and risk, see David Geltner et al., Commercial Real Estate Analysis and Investments, 2nd ed. (Mason, OH: Thompson South-Western, 2007), 14–15.
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Poleg, D. (2020). Offices in Context. In: Rethinking Real Estate. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-13446-4_8
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