Musk failed to get the necessary permits to change Twitter’s building signage to X, and the police shut it down just in time for “er” to remain.
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Most of those IT platform companies only rent their premises as it helps improve the balance sheet and quarterly results by moving "capital expenses" into "operational costs"
I believe part of it is that managing huge buildings is actually a pain in the ass and requires specialized experience to do efficiently, so many companies end up saving money by not owning their buildings.
Well that, and the fact it costs huge amounts of money to own land in cities.