It's so weird to me that it's the same neighborhood people who were students or worked at non profits could afford to move to 15 years ago. The past is a foreign country.
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Replying to @markasaurus @eparillon
Most of our companies are not here anymore. It doesn’t make financial sense for many new seed-funded companies to even be based here or hire here bc they can’t comp what Big Tech cos comp and people don’t want to move here if there’s no future for them to afford here long term
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Replying to @kimmaicutler @eparillon
It's hard to see what's going to happen next.
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Replying to @markasaurus @eparillon
Crash and/or SF returns to being a big company town.
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SF housing prices are built up on the idea that the next generation will pay exorbitantly more for them (which they have been for quite some time). When the next generation of wealth creation doesn’t happen in the Bay, it’s hard not to see a big crash coming.
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House prices have already stalled over the past year, it's hard to see how they go much higher
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It’s also if fewer and fewer people decide to sell because California’s tax system discourages it, which is also what happened over the last decade.https://socketsite.com/archives/2019/05/number-of-homes-for-sale-in-sf-inches-up-but-trend-turns-down.html …
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Interesting comments there RE: Lyft and Uber IPOs
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I don’t know how Uber’s comp was structured w later employees (if it was RSUs or options) but it’s possible that employees might have paid tens or hundreds of thousands of dollars in taxes on something that’s worthless. https://www.nytimes.com/2015/12/27/technology/when-a-unicorn-start-up-stumbles-its-employees-get-hurt.html …
1 reply 1 retweet 3 likes
I think it seems like RSUs though from Googling around....
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