Prominent Silicon Valley venture capitalist Tim Draper sees significant but diminishing value in face-to-face work, and believes that as technology improves, more work will go remote. He and many others foresee a hybrid future for the Valley in which the type of work, type of company, and workers’ personal preferences determine who’s in the office — or even the Bay Area — and who isn’t.In-person meetings might take place weekly, monthly or quarterly, in shared workspaces or attractive destinations. “You basically offset those costs by rather than spending it on rent you’re spending it on travel expenses for that quarterly meeting, which ultimately will be a lot cheaper than maintaining an office and forcing yourself to hire people who are local.”

Source: Does remote work kill innovation? Silicon Valley’s big question