It seems like most of the top Series A/B/C companies of 2021 are from San Francisco (even more than a decade ago). Likely some of these would be the next $100B companies, and many would be the next $10B companies. The multi-millionaire ratio of the city will continue to increase and literally there is no more land to build things. Given also the pandemic recovery and more centralization of the left-wing politics, isn't San Francisco real estate destined to skyrocket? Note on the example companies: Chime, Brex, Grammarly, Scale AI, Figma, Faire, Retool, Ripple, ButterCMS, Rippling, Patreon, Niantic, Calm, Shippo, MobileCoin, Instabase, Thumbtack, Deliverr, 6sense, KeepTruckin, Tradeshift, MasterClass, Vercel, Front, Airtable, Hims, Samsara, Hevo Data, Secfi, Side, Capella Space, Voltus, Pathstream, Tempo, Cerebral, Varo, Plenty, Secfi, Sonder, Homelight, Turo, Sysdig, Pipe, Iterable, Docker...
Yes, I'm guessing it's destined to skyrocket for a change. It's been stagnant low prices for way too long. It's bound to start skyrocketing at some point!
Which companies are you talking about? I bet you know <5
Chime, Brex, Grammarly, Scale AI, Figma, Faire, Retool, Ripple, ButterCMS, Rippling, Patreon, Niantic, Calm, Shippo, MobileCoin, Instabase, Thumbtack, Deliverr, 6sense, KeepTruckin, Tradeshift, MasterClass, Vercel, Front, Airtable, Hims, Samsara, Hevo Data, Secfi, Side, Capella Space, Voltus, Pathstream, Tempo, Cerebral, Varo, Plenty, Secfi, Sonder, Homelight, Turo, Sysdig, Pipe, Iterable, Docker...
Now count how many of them are going hybrid or remote
Can you make an economy of only startups where all of big tech has a significant percentage of their workforce full remote?
What really going to boom is private education market.
I never understood why SF couldn’t add a bunch more high rises in the city. Surely they can get the funding for that type of development, no? Please ELI5
SF is full of SFH, there's plenty of land in SF. What's missing is good politics and good policies for land redevelopment.
SF's population density is only 30% less than NYC and maybe 70% less than Manhattan. Making SF another Manhattan will take decades of politics and real estate development, and the growth in decades in that case will exceed 3-4x. I believe that's the future of SF anyway - Sunset, Tenderloin, Richmond... will all be full of nice skyscrapers. Capitalism eventually wins.
Tenderloin sure but I doubt we’ll see skyscrapers in the sunset anytime soon 😂
Way to start a post with all that confirmation bias. Are you just looking for a "yes, go buy that SF property"?
Haha, nah I am not looking for that
There's no end to the pandemic in sight with variants beating existing vaccines and hence, all the remote workers getting a boost. I am taking the opposite end of your bet, and not just moving out of SF, but actively looking to join companies who are embracing a remote-first and fully decentralized model. That said, I do have massive FOMO about the Bay Area bouncing back , largely because all my friends are getting the largest mortgages they can for 1930s-1950s shacks from Los Altos to San Ramon. Another factor is the rise of the biotech companies from Menlo Park to Pleasanton. Any of those makes the Fortune 500, and then Bay Area will have reinvented itself. I am not particularly convinced by your arguments in your original posting, since those companies hit their valuation either pre-pandemic or because of the during-pandemic money printing and it's unclear if being in-person in the Bay Area had anything to do with it (unlike say, Rivian, which like all other Bay Area based self-driving cos needed significant real estate and operations here). Always fun to chat with people who are taking the opposite side of your bet, I wonder what are some good ways to hedge this.