3 of 3: The reality of San Francisco's recovery is much more encouraging than what the common narrative suggests. While there’s still progress to be made, we've come a long way since 2021. #SanFranciscoOffice #office @realEstateTrent @CNBCTechCheck
2 of 3: SF's recovery is gaining momentum, notably in the FiDi, where we're seeing lines at coffee shops & busy crosswalks during the AM, lunch, and PM rush hours. Map highlights the strength of office demand across SF #SanFranciscoOffice #office @realEstateTrent @CNBCTechCheck
post 1 of 3: Interesting Update | San Francisco Office Real Estate September 2024 #SanFranciscoOffice #office @realEstateTrent @CNBCTechCheck
Takeaway: AI is bringing new energy and enthusiasm to San Francisco, with over 200 AI companies in the city mandating in-office work, growing rapidly, and seeking prime real estate to attract top engineering talent... Sound familiar?
Interesting Updates Update: In a call w/ colleagues from most major metros in US last week, it became clear that while San Francisco is recovering from the impacts of COVID-19 and the work-from-home trend, this is not a trend seen in other major metros around the country... yet
#4 - Recent examples include Gemini (Google), OpenAI, and Anthropic. Three LLM businesses, birthed in the bay area and all looking for significant office space in Seattle in an effort to chase engineering talent.
#3 - This pattern was observed in the mid-90s, during the dot-com boom, and again between 2010 and 2020. - The trend is repeating with AI companies: birthed in Silicon Valley, growing rapidly, then seeking space outside the Bay Area to chase talent and affordability.
#2 -Tech companies have a history of being founded in Silicon Valley since the early 80s. - These companies experience rapid growth and eventually downsize in the Bay Area, expanding elsewhere globally.
Post 1 of 6 #1. Tech history is starting to repeat itself again and that it is an amazing thing to witness in San Francisco. #SFAI #SFOFFICE #SFREALESTATE
SF Ai Startups #WorkFromWork is the clear mandate from SF AI start ups. The buzz in these offices is extraordinary. Hard-core engineers, working around the clock. Thank you @OPENAI for bringing back old-school work ethic. #Winning
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