The tech boom is slowing for reasons that are also completely outside local politics. Housing policy didn't tank WeWork or dampen post-IPO tech company stock prices.
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Agreed, however, we surveyed the companies we work with a year ago and of the ones from more recent years, more than half are outside the Bay Area bc it doesn't make sense to be here financially. Also most plan to hire distributed/remote.
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No office space? We just approved one of the biggest office projects ever in SF (Flower Mart, 2+ million square feet). There is 7 million square foot of office space in the pipeline. We are currently in the middle of one of the biggest office building booms in SF ever.
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How much is pre-leased
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How could they have budget shortfalls in such a ‘rich’ city? Tragic
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Oh, and NOW The Chronicle cares about this subject — after it alternately ignored or served as cheerleaders during the decade when Big Tech colonized The City? Of course.

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They’ve always reported on this every year. Nothing changed.https://www.sfchronicle.com/bayarea/article/SF-taking-steps-to-avoid-projected-future-budget-13509714.php …
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That particular stat seems like a useless topline and alarmist way to describe a projected deficit increasing all the way to . . . 1.7% of budget.
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1.7% of 12 billion is several hundred million dollars?
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