????????????? The week in Bay Area business: robotaxi reverse, a big bet on S.F. office and winning Gen Z love
San Francisco Business Times
The San Francisco region's source for local business news & events. Part of the American City Business Journals network.
The robotaxi race is looking a little more streamlined after GM pulled Cruise to the side of the road. The Bay Area remains the epicenter of autonomous taxi transport development but . . . the field is shifting. The prize is potentially massive for whoever wins this race but, as GM found out, taking part carries a heft fee as well. As far as taxi rides go, this was a costly one for GM.
San Francisco's office market got a big vote of confidence this week.
While elsewhere we saw a new lease at the city's most beleaguered shopping space, the San Francisco Centre.
Elsewhere Alameda continues its appeal to life sciences companies while the Berkeley skyline could be getting an addition.
All this and more in another week in Bay Area business.
?????????????
The road to nowhere? GM shuts down Cruise by William Hicks
通用汽车 will shut down Cruise , the San Francisco autonomous vehicle company that operated robotaxi services in California, Arizona and Texas. The automotive giant said it will combine Cruise and GM technical teams to focus on developing autonomous technology for personal vehicles, specifically Super Cruise, a self-driving feature in GM vehicles similar to Tesla 's FSD.
GM was losing billions chasing Cruise's robotaxi dreams will this move prove a good investment in years to come?
An institutional bet on San Francisco offices by Sarah Klearman
San Francisco-based Brick & Timber Collective partnered with investment management giant Barings to acquire a Jackson Square office building, one of the first bets made by institutional capital on San Francisco’s postpandemic office market.
"We've seen the tenant machine turn back on," said Brick & Timber Partner Jesse Feldman .
The week in real estate
U.S. homebuyers are older than ever. What about in San Francisco? By Ted Andersen
Homebuyers in America are the oldest they've ever been.
New research from the National Association of REALTORS? suggests the median U.S. first-time buyer is now 38 years old while the typical repeat buyer is 61 — both historic highs.
What’s the story in San Francisco and the Bay Area??
S.F. retailer Mi Cocina Denim plants HQ flag at struggling San Francisco Centre by Alex Barreira
The downtown San Francisco Centre mall has signed its first notable tenant in what feels like years: Mi Cocina, a local artisan known for its denim aprons, dining room and outdoor cooking essentials.
What could it mean for the much-maligned former Westfield?
Executive Profile: How much is Gen Z love worth? By Hannah Kanik
Oakland's E.L.F. BEAUTY is a Gen Z hit. CFO Mandy Fields explains how low prices combined with clever and genuine social media marketing have kept revenue rising.
领英推荐
Wells Fargo offers sobering outlook for rate cuts by Mark Calvey
富国银行 economists reined in their expectations for the pace of rate cuts in the year ahead as progress on fighting inflation has slowed.
Now they expect rate cuts to total just 1 percentage point over the next 12 months.
How will markets react?
The NBA will have startups compete for a grand prize ahead of the All-Star game by Sara B.
Seven founders from across the Bay Area will compete for $150,000 in cash prizes during the National Basketball Association (NBA) Foundation's fourth annual All-Star pitch competition at Chase Center in February.?
There's a new No. 1 on our Bay Area Banks List by Ahavah Revis
We’ve crunched the numbers and there’s a name atop our annual list of the biggest banks in the Bay Area.?
After some high profile volatility in the local banking sector we’ve seen some high profile acquisitions. But which institution has the most deposits??
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.
Reach out with news tips, questions or comments: [email protected].
And one more thing . . .
Nominate and celebrate ????
Nominations are open for our awards and events including:
...and many more.
Stay safe and have a good week.