On this episode of How To Money, Joel and Matt talk about the future of work. Will physical office space and commutes become a thing of the past as more companies invest in remote work technology and more employees learn to effectively work from home? How will artificial intelligence and chatbots affect industries? They also talk about how affordable used cars are right now and the best places to shop for them if you’re in the market, and go over some quick money-related headlines, commending Netflix for automatically canceling inactive users’ accounts – normally a huge revenue stream for a subscription service – and criticizing restaurant delivery apps like Postmates, Grubhub, and Uber Eats for taking such a huge chunk of the sales that restaurant owners are opting to create their own delivery services instead. They point out that these apps cost the restaurants money and you, too, so look into ordering directly from your favorite restaurant, or going to pick up your meal instead of getting it delivered.
With companies like Twitter and Square telling their employees that they’ll be able to continue to work from home forever, if they want, and Google’s parent company Alphabet backing out of deals for massive office space, Matt and Joel wonder what the future looks like for workers and for commercial real estate. More and more companies have been relying on chatbots for customer service since call centers are closed for coronavirus, and it’s hard to imagine they’ll want to go back to paying human beings to do that work when they can save so much money with AI, the guys point out. On the other hand, people miss going to their offices and having that dedicated space for collaborating with coworkers, so it’s possible businesses will keep their offices open. And with the need for more space between desks, square footage may not even go down very much. It all remains to be seen.
What’s obvious right now is that used cars are extremely affordable. Lockdown and shelter-in-place orders nationwide caused driving to take a sharp decline, even leading to some auto insurance companies refunding a full month of coverage to their customers. Car prices are reflecting this, and as the country starts to open back up, it might be the right time for you to get a new-to-you vehicle at the best possible price. The guys list a number of sources for looking for the right make and model, and encourage looking into rental companies, especially Hertz, who filed for bankruptcy recently and will be selling off most of their fleet. Just don’t skip the mechanic’s inspection, they warn; people use rental cars pretty hard, so make sure you’re not getting a lemon. Hear more great advice about how to handle your finances in the time of coronavirus on this episode of How To Money.
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