🚀📈🤯📉💫 This week in Bay Area business: record-breaking sales; people coming; people going and a trash lake?
San Francisco Business Times
The San Francisco region's source for local business news & events. Part of the American City Business Journals network.
Are more people coming to or going in San Francisco?
During the pandemic, the traffic was one-way. But the Covid exodus that at one point threatened the city, and its downtown core most powerfully, is slowing and may even be in reverse.
What does this mean for 'The Recovery?' Is this a side effect of the AI revolution? Is another summer of love on the cards? Will Alaska cutting SFO routes make any difference?
One company, LendingClub, told us that it’s committed to San Francisco and its workers are happy to be back in the office.
One person who is coming to town is Kellyanne Conway, who is a speaking at an event that may stir some controversy. Hot air and hot takes will no doubt ensue. And if anyone needs to cool off there’s always the SoMa trash lake. Who said dumpster fire?
Elsewhere, there were a couple of record-breaking real estate sales. And we celebrated the latest cohort in our 40 Under 40 awards. Anyone despairing about the world right now can take some solace in the work of these leaders. If they achieve their goals, we all stand to benefit.
All this and more in another week in Bay Area business.
S.F. sees big slowdown in population loss amid influx of new international residents by Doug Sams
San Francisco’s pandemic exodus has nearly ground to a halt — is this a sign the city may be entering a new phase of recovery?
Why is Kellyanne Conway speaking in S.F.? 'I hope we do create a little controversy,' organizer says by Mark Calvey
She’s one of the most infamous mouthpieces of the Trump-era, so why is Kellyanne Conway coming to San Francisco?
Blackstone and DivcoWest close San Francisco's biggest postpandemic office sale so far by Sarah Klearman
DivcoWest partnered with funds affiliated with Blackstone Real Estate to acquire a San Francisco office building, the largest such sale to close in the city’s postpandemic downtown.
San Francisco pushes back return-to-work mandate for many city employees by Mark Calvey
A week before it was to be enforced, Mayor Daniel Lurie has pushed back return-to-office mandates for city workers. This echoes a similar delay in Oakland. Many private firms are also weighing return-to-office policies.
Port of Oakland officials sound the alarm on tariff impact: 'We're in ICU' by Hannah Kanik
Port of Oakland officials and state representatives sounded the alarm on the possible impacts of impending tariffs in a stakeholder meeting with labor leaders, small business owners and local shippers.
The outlook? Not good. The port could be headed for some very choppy waters.
“We have to save the economy ... if there were no tariffs, Oakland would be in emergency. Right now — we're in ICU.”
The week in real estate
Scott Wiener's plan to develop housing near transit rolls on in senate
San Mateo’s housing boom fuels clash over tenant protections
Foreclosure tees up Central SoMa 'trash lake' site to change hands
JPMorganChase expands downtown San Francisco office presence
Luxury Pac Heights co-op sells for $24 million, S.F.'s priciest such sale of the year by Ted Andersen
An upper-floor luxury unit in a prominent Pacific Heights high-rise has just traded hands, representing San Francisco's most expensive co-op sale of the year. What's this luxury sale say about the rest of the city?
Executive profile: A SoMa warehouse is producing the most sophisticated satellites in the world by William Hicks
Despite decades of decline in San Francisco’s manufacturing sector, a modest warehouse in the SoMa neighborhood is still making products that can change the world, or at least photograph it.
Planet , formerly Planet Labs, builds low Earth orbit satellites that take high-resolution photos of the world.
Co-founded by Will Marshall , a former NASA engineer, the company recently expanded its business offerings and is now directly selling its latest model of satellites, the Pelican-2, starting with a $230 million deal with Japanese satellite operator Sky Perfect JSAT Group.
Celebrate the 40 Under 40 Class of 2025
We've announced our latest cohort of 40 Under 40 honorees. You can check out the profiles of our amazing Class of 2025 40 Under 40 honorees right here
East Bay biotech to cut a third of its workforce, reset around two cancer programs by Ron Leuty
Caribou Biosciences inc. — one of the first companies launched out of the UC Berkeley lab of Nobel laureate Jennifer Doudna — will cut nearly 50 jobs, end its preclinical research, stop two clinical trials and reset around two cancer programs.
ICYMI here’s what else you need to know
Five Star Bank plans San Francisco expansion amid hiring surge, eyes East Bay
Bay Area coughed up over $30 million for Trump's inauguration, and Big Tech wasn't biggest donor
Events:
Most Influential Women in Bay Area Business
Join us on Thursday, May 8th, for an inspiring celebration honoring the Most Influential Women in Bay Area Business.
This event brings together trailblazing women to share their wisdom on leadership, community service, mentorship, and the incredible impact women have in transforming the world.
Join us on Thursday, May 8 - register today.
China & U.S. : The Next Chapter
Will the economic friction between the world’s two largest economies get hotter or cooler as President Trump sits in the Oval Office for the second time? Could there be an eventual “reset” or a ratchetting up of tension?
All this and more will be discussed at our 18th China & U.S. : The Next Chapter event.
Join us for a LIVE breakfast program at the Nixon Peabody LLP San Francisco Office (32nd Floor, One Embarcadero Center) on Tuesday, April 29.
Nominate and celebrate 🏆🎊
Nominations are open for our awards and events including 40 Under 40, Best Places to Work in the Bay Area, Fastest Growing Companies, Real Estate Deals of the Year, Most Admired CEOs, and many more. Make your nominations here.
And one more thing . . . 🚀📈💸💥📲
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Moonshots and Doom Loops
This weekly Bay Area business round-up is written by Simon Campbell, special projects editor at the San Francisco Business Times.
Reach out with news tips, questions or comments: scampbell@bizjournals.com.
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Have a great week and Go Dubs.
