Stonestown housing moves forward, Elon pulls out of S.F., J.D. Vance's Silicon Valley roots
San Francisco Business Times
The San Francisco region's source for local business news & events. Part of the American City Business Journals network.
Moonshots and Doom Loops is a weekly rundown of the biggest stories in Bay Area business. Here's what's been moving markets and making headlines over the last seven days.
Stonestown Mall development takes a massive step forward
The San Francisco Board of Supervisors this week unanimously approved legislation to transform the parking lots around the Stonestown Galleria mall into a residential village featuring 3,500 new homes. The project will be the west side's largest residential development in 50 years. Read more.
'The last straw': Elon Musk says X is headed out of San Francisco
Elon Musk announced this week in a bitter social media post that he will be moving the headquarters of X Corp. out of San Francisco to Austin. The move was in response to a California law that would ban schools from alerting parents if their children identifies as transgender. Musk also said he would be moving SpaceX's HQ out of Hawthorn to Starbase, an industrial complex near Brownsville, Texas. Read more.
How J.D. Vance went from Silicon Valley VC to the 2024 Trump ticket
J.D. Vance, the recently announced GOP vice presidential candidate, spent a short few years as a Silicon Valley venture capitalist, but it was a key part of the background that catapulted his political career. Back in 2016, Vance worked for Peter Thiel's VC firm Mithril Capital, living in San Francisco at the time. Thiel, a major Republican donor and Donald Trump supporter, would go on to bankroll Vance's Ohio senate campaign. Read more.
UC Regents approve billion-dollar Oakland hospital project
The University of California Board of Regents approved a $1.5 billion expansion and modernization of UCSF Benioff Children's Hospital Oakland, launching a seven-year project that will increase the number of functional beds by 48%. When the entire project is completed in 2031, the landmark hospital will have 208 beds, expanded inpatient capacity, more operating rooms and an enlarged intensive care unit. Read more.
Apple, Sobrato Philanthropies launch $50 million affordable housing loan program
领英推荐
The San Francisco Housing Accelerator Fund is partnering with Sobrato Philanthropies, Destination: Home and Apple to launch the $50 million Bay Area Housing Innovation Fund that will help build hundreds of affordable housing in the Bay Area. The fund will offer favorable loans to projects that can deliver affordable homes faster and more cost effectively, with a goal of achieving cost and time savings of around 40%. Read more.
This week in Bay Area real estate
EXCLUSIVE COVER STORY
To B or not to B: How startups are dealing with the difficult prospect of raising Series B rounds
A tough funding environment has made the leap from raising a Series A round to a Series B ever more difficult. We talked to Bay Area startups that have successfully made the jump to find out what it takes to reach this major milestone in company growth. Read more.
ICYMI: Here's what else you need to know
Moonshots and Doom Loops
This weekly Bay Area business? round-up is written by William Hicks, assistant managing editor at the San Francisco Business Times. Reach out with news tips, questions or comments: [email protected].
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