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Virtual Office

It's not a building. It's a website. Or more specifically, an i.p. address which is tied into a server (just a fast processing computer) which then feeds the offices...workers. Virtual offices are becoming a major Thing in the world. Traffic time is wasted time for most. Parking is a pain. The physical building part is just no longer necessary as internet speeds, quality and connectedness simply get dramatically better. Like how easy is it today for dozens of people to edit the same Google Sheet or Slide or Doc? And from the company's prespective, the virtual office usually makes a ton of financial sense. Big savings on rent, janitors, maintenance, insurance, parking fees, and so on. Like why do call center reps ever need to go into an office again? Way easier to work from home in your underwear.

Find other enlightening terms in Shmoop Finance Genius Bar(f)