?????? This week in Bay Area business: OpenAI HQ; DEI funding and fintech fears.

OpenAI is moving house. And the sand is shifting elsewhere in the Bay Area. Fears about fintech fallibility is raising questions for customers and the sector at large. While VCs are ignoring the brouhaha around DEI instead framing it as an economic necessity rather than just a social good.

These Bay Area investors are still bullish on DEI by Sara B.

The DEI pushback is animating political rhetoric in the presidential campaign and startup boardrooms alike.

We spoke with venture capital investors to ask: Are you still bullish on diversity, equity and inclusion as a business imperative, and if so, why? Here's what they told us.

OpenAI departs Mission headquarters building linked to Elon Musk by Sarah Klearman

OpenAI has vacated nearly 40,000 square feet that co-founder Elon Musk leased on its behalf a few years before he departed the artificial intelligence platform. Read more.

A one-in-a-million shot: Biotech chases life-saving cure, but it has to save its own life first by Ron Leuty

The biotech industry has had a rollercoaster few years. From investor exuberance at the height of the Covid pandemic to today's desperate need for cash. Several drug developers have had to shelve programs, cut jobs or close up shop altogether in the wake of Wall Street dissing companies they were wooing until very recently.

Sangamo Therapeutics, Inc. is one biotech battling market pressures, as well as science, to get its discoveries to patients. Read the full story.

EXCLUSIVE COVER STORY: Why fintechs are under fresh scrutiny by Mark Calvey

A San Francisco bankruptcy has raised fresh questions about a popular fintech operating model — and worries over the ultimate safety of customer funds.?

“It’s quite remarkable today that nobody amongst the regulators, or even the bankruptcy court, can say, ‘This is for me to solve. This is for me to fix,’” said Ryan Gilbert , founder of Launchpad Capital pital. Read the story.

Oakland-based Lakeside Group takes over HP Investors’ Northern California portfolio by Hannah Kanik

One of HP Investors’ former employees, and a growing presence in Oakland and Bay Area real estate, Isaac Abid , has taken over its nearly 500,000-square-foot Northern California portfolio. Read more.

Check mate? Building in Union Square scooped up by new investor by Alex Barreira

Burberry's building in Union Square has been bought by a new investor. It's the first major Union Square building deal this year and an encouraging sign for sellers after a "very competitive" bid process.?Read more.

The week in Bay Area real estate

• S.F. recovery at 'inflection point,' latest office buyer says
• SoCal investor makes first post-pandemic bet on Mid-Market
• East Bay megaproject back on track after shock rejection
• Oakland office tower to hit the market
• Historic downtown Oakland building bought by current occupant

Writer Isabel Allende sells Tiburon home by Ted Andersen

Famed writer – and longtime Marin County resident – Isabel Allende has sold her waterfront Tiburon home for roughly $1.5 million more than she paid for it nine years ago. Read more.

Executive profile: Can AI and robots save lumber from landfill? This founder thinks so by Simon Campbell

In 2023, Urban Machine became part of the first cohort of climate-focused startups admitted to the Yes SF accelerator program organized by 德勤 , 花旗 and Salesforce to revitalize the Bay Area by investing in local businesses. CEO Eric Law is using a career in construction, plus AI and robotics, to build a product that could tons of lumber from landfill. Read more.

ICYMI here's what else you need to know

• Fashion boutique, known for styling Steph Curry in the NBA Finals, files for bankruptcy
• Viewpoint: This S.F. business tax makes no sense
• Uber riders can hail a self-driving car from Cruise
• Week in AI: AWS launches San Francisco hub, OpenAI opposes bill??INNO
• Stonestown bolsters restaurant roster with three new additions
• Activist investor has a new S.F. target in sights
• AECOM wins major San Francisco train project
• San Leandro is playing to its strengths to attract new industries
• Celebrated Walnut Creek restaurant files for bankruptcy

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Moonshots and Doom Loops

This weekly Bay Area business? round-up is written by Simon Campbell, special projects editor at the San Francisco Business Times.

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Have a great week.