Cloud tech company Dropbox has never recorded an annual profit, but margins are up since 2019 thanks to remote work, layoffs and savings on travel and events. The company is betting everything on remote work. It didn’t just reorient its products to better serve customers working virtually. Execs also expect “significant” financial improvements by subleasing some real estate and hiring in “lower-cost” locations. The idea is to “live our mission” as “a distributed team building for distributed teams,” CEO and co-founder Drew Houston said during conference calls with equities analysts.
The response among . . .