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  #21  
Old Posted Mar 29, 2019, 5:48 PM
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On the day of Lyft's IPO, although I got a few shares of that one, here's the one I really want and constitutes more evidence of what's happening in Silicon Valley:

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Palantir wins competition to build Army intelligence system
By Shane Harris
March 26

The Army has chosen Palantir Technologies to deploy a complex battlefield intelligence system for soldiers, according to Army documents, a significant boost for a company that has attracted a devoted following in national security circles but had struggled to win a major defense contract.

Industry experts said it marked the first time that the government had tapped a Silicon Valley software company, as opposed to a traditional military contractor, to lead a defense program of record, which has a dedicated line of funding from Congress. The contract is potentially worth more than $800 million.

. . . the Distributed Common Ground System (or DCGS-A, for Army) . . . lets users gather and analyze information about enemy movements, terrain and weather to create detailed maps and reports in real-time. The system is designed to be used by soldiers fighting in remote, harsh environments . . . .

(The Army) put the software through a rigorous test, even parachuting out of airplanes with reinforced laptops containing Palantir’s software . . . .

Unlike most Silicon Valley start-ups, which aim to make their fortunes building consumer applications and software, Palantir at its founding set its sites on Washington, believing that its data analytics tools would find an eager market among U.S. spy agencies and the military, which are constantly trying to manage ever-expanding streams of information . . . .

The company got an early investment in 2005 from In-Q-Tel, the CIA’s venture capital arm, which tries to quickly develop technologies that the intelligence agency might use.

The In-Q-Tel connection helped Palantir get meetings with U.S. officials and intelligence analysts, and even test its software with the CIA’s counterterrorism center, according to people familiar with the matter.
https://www.washingtonpost.com/world...=.9bfff30a9a4c
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  #22  
Old Posted Mar 29, 2019, 6:11 PM
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It's not just the city tech economy that's doing well either:

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Hotel pipeline set to flood South San Francisco with more than 1,000 new, upscale rooms as biotech booms
By Katie Burke – Food/Hospitality/Retail Reporter, San Francisco Business Times
Mar 28, 2019, 2:41pm EDT

South San Francisco’s hotel market has long played second fiddle to its northern counterparts, but following a decade of dormancy, the region is ready to step into the spotlight.

Thousands of new or renovated hotel rooms are in the development pipeline, driving both occupancy and average room rates to new heights. The surrounding biotech and life sciences community has led to more than 20,000 such workers in the South San Francisco area, a figure the city expects to exceed 40,000 over the next three years. In that time, new developments will push the city’s current stock of hotel rooms from 3,000 to as many as 4,000 . . . .
https://www.bizjournals.com/sanfranc...899&j=87519951
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  #23  
Old Posted Apr 1, 2019, 9:22 PM
CaliNative CaliNative is offline
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Originally Posted by Pedestrian View Post
^^I saw that Theranos show. That's more biotech than tech, of course, but Elizabeth Holmes is quite amazing in the way she took in everybody. I suspect a male might not have been able to do it; who would suspect a beautiful young woman of being a fraud? And she was so convincing it almost seems like she believed her own BS.

I remember when Theranos was still "up and coming" and I remember thinking, "How can they do that?" Guess they couldn't and didn't. But most of what's called "tech" these days is just buisness conducted over the internet and a lot easier to figure out. I just ask myself whether they are selling a service I or anybody I know would really want. Take grocery delivery (and recall the 2000 failure of WebVan): I don't really want someone else picking out my perishables at least (meat, veggies, fruits). So I don't really see these businesses that either deliver such items or even the "meal in a box" outfits surviving long term. On the other hand, I consider the rideshare services as genuinely disruptive and necessary. I think they'll make it in some form though maybe government will force it to change from the way it is today.
Lyft fell below its IPO price today. Down 11% even as the Dow was up over 300. Another tech bubble popping? Most of these IPOs may never make money in my opinion. They may be "disruptive" but profitable? It might rebound but we'll see. I wouldn't touch Uber IPO with a ten foot pole. Most tech & "Silicon Valley" stocks seem overvalued. Bought some put options on the QQQ today in case we are at or near a top in big Nasdaq/tech stocks. I have some time on them in case the rally extends a bit. Might even retest the Dec. lows in my opinion by May/June after this rally runs out of steam. 1st quarter earnings start coming out in the days ahead. We'll see how much they meet or exceed or miss expectations.

Last edited by CaliNative; Apr 1, 2019 at 9:33 PM.
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  #24  
Old Posted Apr 5, 2019, 6:19 PM
RST500 RST500 is offline
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https://www.businessinsider.com/sili...-survey-2019-4

"Forty-one percent of 18- to 34-year-old tech workers surveyed said they planned to leave the Bay Area in the next year."
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  #25  
Old Posted Apr 5, 2019, 7:16 PM
Obadno Obadno is offline
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Originally Posted by RST500 View Post
https://www.businessinsider.com/sili...-survey-2019-4

"Forty-one percent of 18- to 34-year-old tech workers surveyed said they planned to leave the Bay Area in the next year."
Cali, get it together guys before you kill your golden goose.
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  #26  
Old Posted Apr 6, 2019, 5:06 PM
RST500 RST500 is offline
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It would make sense to relocate a lot of those jobs to Silicon Beach which has access to affordable areas such as Inglewood and Hawthorne which are in need of gentrification.
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  #27  
Old Posted Apr 6, 2019, 10:23 PM
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It would make sense to relocate a lot of those jobs to Silicon Beach which has access to affordable areas such as Inglewood and Hawthorne which are in need of gentrification.
Austin, Portland and Denver/Boulder will continue to pick up Bay Area tech companies opening second offices. Though all three have their own affordability issues. Boise, Albuquerque, Omaha, Kansas City and Nashville seem primed to be alternate options. Dallas/Ft Worth and Phoenix of the large metros will pick up some as well.
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  #28  
Old Posted Apr 6, 2019, 11:54 PM
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So apparently Memphis has more tech jobs than much larger Columbus or Sacramento?

Is this a list of the top 40 or just 40 cities chosen? Why Memphis but not some others? Also Providence...?

https://www.citylab.com/life/2017/06...valley/530352/

So Columbus has gone from number 19 to not even in the top 40????
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  #29  
Old Posted Apr 10, 2019, 9:39 PM
CaliNative CaliNative is offline
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Tech Bust 2?

Lyft stock has collapsed from its new issue price. Fell to $60 today, almost 20% off new issue price and down $28 from the high price of $88. Maybe it will bounce back. Will Uber new issue fall flat as well? Has the tech stock rally peaked? Many of these new issues are not profitable. They are losing money. Of course Amazon lost money for years, but finally it made money. Facebook dropped right after its new issue came out, but eventually soared. So in the long run, maybe it will work out. Bought some Levi Strauss stock, so I do like that SF new issue. They do earn money. The tech area though appears more of a minefield.

Last edited by CaliNative; Apr 13, 2019 at 8:46 AM.
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  #30  
Old Posted Nov 11, 2019, 9:35 PM
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"Earlier in the decade (2010 – 2015), propelled by the tech boom, the Bay Area CSA experienced strong growth, adding 1.2% annually to its population. This is more than 50% above the national population growth rate of 0.7% (Figure 2). The last three years, however (2015 – 2018) the population growth rate fell to 0.6%, half that of the 2010 – 2015 rate, well below the national rate."

http://www.newgeography.com/content/...cisco-bay-area
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  #31  
Old Posted Nov 13, 2019, 10:08 AM
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Originally Posted by Pedestrian View Post
I'd also say the dominance of "tech bros" everywhere and anywhere, whether lined up for ice cream at Bi-Rite or getting drunk on Marina Green or grabbing tables at every eatery in town has also killed any sense of benefit. Many people would love to see it all end a la 2000 - 2003 but it isn't showing any signs of that.

I think the development boom has peaked because building costs have gotten so high, we are at or near Prop. M caps and many of the most desirable sites have been built on, but the tech industry marches on with companies like Saleforce leasing entire buildings not even approved yet (750 Howard).
I think there is a lot of disenchantment with tech, not so much the hardware as the software, and especially the social media. The early promise has turned into anger as nefarious activities and trolling have taken over. Facebook and Twitter especially. When they allow meddling in elections, we have to draw the line. Spending hours per day on Facebook or Twitter seems increasingly like a great waste of time.
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  #32  
Old Posted Nov 13, 2019, 3:22 PM
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Quote:
Originally Posted by CaliNative View Post
I think there is a lot of disenchantment with tech, not so much the hardware as the software, and especially the social media. The early promise has turned into anger as nefarious activities and trolling have taken over. Facebook and Twitter especially. When they allow meddling in elections, we have to draw the line. Spending hours per day on Facebook or Twitter seems increasingly like a great waste of time.
Not only meddling in elections but the censorship of news based on which political party/side they lean on. These tech platforms should remain neutral since they've essentially crossed the path into being a utility.

On the other hand, the censorship has led rise to other companies. Google censoring the news in favor of one party/view has led to the rise of companies like DuckDuckGo. The search results can be pretty different sometimes. For example, right now in Google when you type in "ABC News E" the first results that pop up are ABC News Email, ABC News Economy, and ABC News Episodes. Type the same "ABC News E" into DuckDuckGo and the first result you get is "ABC News Epstein".

Which one do you think is the most important out of the searches at this point in time? Yeah some of these tech companies have way too much power and influence if they can suppress large news stories based on search results alone. Companies like DuckDuckGo won't ever reach the prominence of Google, but get enough competition started via start-ups or former employees forming their own companies, and that would only mean good things for the tech industry as a whole, including the Bay Area.
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  #33  
Old Posted Nov 13, 2019, 8:22 PM
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And moving away from conservatives complaining to the topic of the thread

San Francisco Has Second-Highest Tech Jobs Growth

Lisa Brown
GlobeSt.com
November 13, 2019

SAN FRANCISCO—A new CBRE report ranks San Francisco the fastest-growing tech market with overall rent growth of 17.5% between second quarters 2017 and 2019.
...
San Francisco also had the second highest high-tech employment growth rate (behind only Vancouver) with 24.7% during 2017 and 2018, accounting for 84.7% of all new office jobs. Since the current expansion started in 2010, the tech industry in San Francisco has more than quadrupled in size to 100,644 tech jobs as of year-end 2018. This growth has fueled the absorption of 15 million square feet of office space, which reduced the vacancy rate to 3.6% and caused rents to spike by 180% to $86 per square foot annually, the highest in North America.

“Access to the largest and most innovative tech talent labor pool in North America has kept real estate demand high in San Francisco,” said Darin Bosch, senior managing director at CBRE. “Tech companies are thriving here even with the competitive labor and real estate markets driving operational costs higher. They see San Francisco as a natural lab and testing ground for new technologies.”
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  #34  
Old Posted Nov 13, 2019, 8:45 PM
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Originally Posted by craigs View Post
San Francisco Has Second-Highest Tech Jobs Growth

Lisa Brown
GlobeSt.com
November 13, 2019

SAN FRANCISCO—A new CBRE report ranks San Francisco the fastest-growing tech market with overall rent growth of 17.5% between second quarters 2017 and 2019.
...
San Francisco also had the second highest high-tech employment growth rate (behind only Vancouver) with 24.7% during 2017 and 2018, accounting for 84.7% of all new office jobs. Since the current expansion started in 2010, the tech industry in San Francisco has more than quadrupled in size to 100,644 tech jobs as of year-end 2018. This growth has fueled the absorption of 15 million square feet of office space, which reduced the vacancy rate to 3.6% and caused rents to spike by 180% to $86 per square foot annually, the highest in North America.

“Access to the largest and most innovative tech talent labor pool in North America has kept real estate demand high in San Francisco,” said Darin Bosch, senior managing director at CBRE. “Tech companies are thriving here even with the competitive labor and real estate markets driving operational costs higher. They see San Francisco as a natural lab and testing ground for new technologies.”
It's all very related. What you're seeing now with the tech industry is censorship based on views or what sponsors what you to see. Now other sides who feel their voices are being suppressed have started companies, or companies that were already started have grown exponentially when people tried finding alternatives. Competition breeds growth so this will only be good for the tech industry that SF/SV is the center of.

I think this might be the first time this has happened in the tech industry we know today. Before everyone kind of joined and used what was popular. Now people are seeking the alternatives to best fit their needs. I think what this could also mean is a rise in other tech centers across the country (Dallas, etc.).
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  #35  
Old Posted Nov 13, 2019, 10:01 PM
iheartthed iheartthed is offline
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Quote:
Originally Posted by Trae View Post
It's all very related. What you're seeing now with the tech industry is censorship based on views or what sponsors what you to see. Now other sides who feel their voices are being suppressed have started companies, or companies that were already started have grown exponentially when people tried finding alternatives. Competition breeds growth so this will only be good for the tech industry that SF/SV is the center of.

I think this might be the first time this has happened in the tech industry we know today. Before everyone kind of joined and used what was popular. Now people are seeking the alternatives to best fit their needs. I think what this could also mean is a rise in other tech centers across the country (Dallas, etc.).
I don't think we'll see a place become a tech center just because there is an alternative app rooted there. For instance, Snap was supposed to launch Los Angeles into this dominating tech hub, but that hasn't panned out so much.

However, I do think we're seeing tech take hold in regions that have unique industry knowledge. This has kind of happened in L.A. with the move to online streaming. We're also seeing it in Detroit with the auto industry's aggressive move into electric vehicles on one end and "mobility" on the other.
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  #36  
Old Posted Nov 13, 2019, 10:02 PM
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California, SF unemployment rates fall to record lows
Roland Li
sfchronicle.com
Oct.18, 2019


San Francisco is at the center of California’s economic boom, which has brought the unemployment rate to a record low.Photo: Michael Macor / The Chronicle 2018

The unemployment rate in both California and San Francisco fell to a record low in September, the state announced Friday.

The state added 21,300 jobs in September and had an unemployment rate of 4%, down from 4.1% in September 2018. California — the fifth-largest economy in the world if it were a country — now is in the midst of its longest record jobs expansion, 115 months, surpassing the economic boom of the 1960s, according to the Employment Development Department.

San Francisco’s unemployment rate fell last month to a minuscule 1.8% from 2.1% from the prior September, the lowest number the city has ever recorded.

Despite fears of a recession amid an ongoing U.S.-China trade war and the stumbles of high-profile tech companies like Uber, there are no major signs that the local economy is cooling, said Christopher Thornberg, founder of Beacon Economics in Los Angeles.

“Tales of this expansion’s demise are highly exaggerated. We don’t see any end to it,” Thornberg said.
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  #37  
Old Posted Nov 13, 2019, 10:18 PM
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This state is kickin' a--.
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  #38  
Old Posted Nov 13, 2019, 10:26 PM
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Ironically despite being lambasted by the right, California is firing on all cylinders on the one marker Conservatives typically worship the most (economic growth/capitalism!).
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  #39  
Old Posted Nov 13, 2019, 10:44 PM
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“Tales of this expansion’s demise are highly exaggerated."


"We don’t see any end to it,” Thornberg said.


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  #40  
Old Posted Nov 13, 2019, 10:48 PM
LA21st LA21st is offline
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We know it's been exaggerated. That's why it's annoying to read the anti-California nonsense.
As reported before, Texas's job growth is barely higher than "struggling" California in the last friggin' 9 years.
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