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Don't underestimate investors' intelligence.

Most of the RTO reasons barely make sense for investors investing in startups, but may for established companies. Things like this RTO push rarely happen without a reason.

Off the top of my head:

- tax cuts if you're operating in a certain area, maybe even historical ones, political connections like - legacy of lobbying local politicians in said area to get some benefit

- conflict of interest from the owners (private or major shareholders) also somehow owning commercial real estate or businesses that rely on its vitality

- management having reasons to prefer RTO: simple preference for in-person management, fear of loss of control or being perceived as useless, misalignment with a personal-connections-over-merit advancement; these things are mostly misaligned with the owners' interests



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