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SF & NYC DEFEND THEIR TITLES AS TECH LEADERS
On March 11, join sf.citi for the next installment of our Mapping The Tech Exodus event series as we compare the tech policy landscapes of San Francisco and New York City.
Longtime tech and business powerhouses San Francisco and New York City have been hard hit by the pandemic. Both coastal cities saw a net population loss of over 70,000 people and rent drops of 20 percent or higher. Bucking the trend of other industries, however, New York City’s tech scene continues to boom. In 2020, venture capital funding in New York City rose by 75 percent and the city now boasts 17 tech unicorns. On March 11, Jennifer Stojkovic, Executive Director of sf.citi, and Julie Samuels, Executive Director of Tech:NYC, will discuss ways San Francisco and New York City can recover from COVID-19 and defend their titles as leaders in tech innovation—register below!
sf.citi’s Mapping the Tech Exodus event series explores tech trends across the country and analyzes how they compare to what we’re seeing in San Francisco. Each discussion features a new tech policy leader to weigh in on the ongoing migration of tech workers and companies outside of the San Francisco Bay Area, as well as approaches other cities are taking to attract tech talent (and tax dollars). Earlier this week, we talked to Brian Moyer of the Greater Nashville Technology Council, who gave us the scoop on Nashville’s tech scene—stay tuned for a forthcoming blog with highlights from our conversation!
SUPPORTING SF SMALL BUSINESSES WITH D1 SUPERVISOR CONNIE CHAN
Today, sf.citi hosted our second virtual Lunch and Learn discussion of 2021 with newly elected District 1 Supervisor Connie Chan. We were joined by sf.citi members Airbnb, AT&T, Comcast, Cruise, Facebook, Google, Instacart, LinkedIn, Lyft, Microsoft, Verizon, Waymo, and more.
Elected to the Board of Supervisors in November 2020, Supervisor Connie Chan begins her term staring down many issues related to the pandemic, including the rollout of vaccines in San Francisco. The first piece of legislation she introduced aims to provide legal aid to San Francisco small businesses so they can defend themselves against commercial evictions. In the Richmond district, Supervisor Chan has heard small business owners describe the challenges associated with the set cost of doing business in San Francisco. That’s why she’s also working to expand grants and loans to small businesses that have been in San Francisco for 15 years or longer.
Another top priority for Supervisor Chan is reopening San Francisco public schools. As the mother of a public school student herself, Supervisor Chan relates to the pain and burden felt by other San Francisco parents. She commended recent progress made by the San Francisco Board of Education. At the same time, she acknowledges that the San Francisco Unified School District (SFUSD) must overcome significant barriers before schools can reopen, saying, “There are so many other requirements we need to make it safe to do so.”
IS SEATTLE SETTING ITSELF UP FOR A TECH BUST?
In the latest sf.citi blog post, we explore why San Francisco’s tech scene is shrinking while Seattle’s tech scene is growing.
Several weeks ago, sf.citi hosted our first Mapping the Tech Exodus event with Nicholas Merriam, CEO of sea.citi. We found that Seattle’s tech ecosystem—thriving in spite of COVID-19 and remote work—very much resembles that of San Francisco ten years ago. The fact that Seattle offers much of what San Francisco does (temperate weather, access to the outdoors, a bustling metropolis) at half the cost may, in fact, give Seattle an edge over San Francisco for future tech growth.
At the same time, the similarities between San Francisco and Seattle extend into the political sphere. Legislators in both cities have not always embraced tech’s presence and have passed regulations targeting the industry in recent years. With leaders across the country eager to attract a now transient tech workforce, this approach to tech policy could spell trouble for San Francisco and Seattle. If Seattle truly goes the way of San Francisco, will it see a tech exodus in the near future? Read our blog to learn more.
DID YOU KNOW?
Rents in San Francisco have fallen so dramatically that some people are finding the City more affordable than Oakland. The difference in median apartment prices in San Francisco and Oakland is, in fact, the closest it has been for many years. Of course, what’s affordable for some is still unaffordable for most. According to Apartment List, San Francisco rents have fallen by 27 percent with the median price of a one-bedroom apartment just shy of $2,000. The City remains the costliest major metro—especially for those most impacted by COVID-19. Read more on that here.
BUZZ | #MEMBERNEWS
- Twitter, Facebook and other Bay Area companies to diversify leadership by 25% (San Francisco Chronicle)
- Microsoft joins forces with European news publishers (Financial Times)
- Airbnb lists entire Showplace Square building for sublease with potential for direct deal (San Francisco Business Times)