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“Wave the white flag” is an idiom that means to give up. In wartime, trapped soldiers can hold up a white flag if they mean they will not fight and are surrendering to the enemy.
In more peaceful contexts, to “wave the white flag” simply means to give up on an initiative, an attempt, or an argument.
Zoom once promised a world of fully remote work. We may never need to go into offices again. After all, some studies showed that employees were (maybe!) more productive working from home. But now, more studies have been done and it turns out that remote work isn’t as productive as in-office work.
So what is Zoom doing? Well, even Zoom is waving the white flag. Zoom is giving up on the vision of fully-remote work. Sure, its tools can be used to videoconference. But they’re not a replacement for in-office work.