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This article isn't even about ping pong. Furthermore, I love ping pong and think it's a great addition to any office. I look forward to playing my daily game of ping pong at the office and it makes the day way better!
"Many companies, especially rapidly growing startups, make the somewhat false assumption that cultural wins come from superficial perks. Games rooms, zen gardens and branded loot (from skateboards to iPads) are all dangled enticingly at candidates, subconsciously suggesting ‘We’re a fun place to work’."

This isn't really a false assumption. For potential employees just coming out of college, it's a great perk.

For people that have been in the industry for 10 years, not so much.

I generally just want more vacation time or better pay.

The entire article seems to suggest that 'Millennials' are different and their needs require a different culture...

... ageism is obviously strong.

This author's other articles are also about the every mysterious millennials. Pandering to the clueless.
Clickbait title. Have you even bothered playing ping-pong casually? It has multiple benefits:

1) Physical activity. Sure standing desks are the rage right now, but actual movement is better.

2) People actually hold conversations while playing ping-pong. One of our VPs would be talking to another one about investment strategies while they played each other.

3) It's a good way to meet new people in your office. You see someone from another department play, ask to join, then meet someone new and bond over a shared interest.

So in HR vernacular, ping-pong has the potential to form organic relationships. Instead of company volunteer days on weekends where half the people would rather be at home with their friends or families.