20 Feb 2024

Even SF Detractors Return

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Even Detractors Return

Even SF Detractors Return as AI Bloom Drives Startup Funding; Rival Tech Hubs Austin, Miami See Steep Declines

Even SF Detractors Return
Even SF Detractors Return | The tide appears to be turning in San Francisco as tech giants and startups alike make a marked return to the city once criticized during the pandemic for its high crime rates and struggles with homelessness.

According to a recent report by The Wall Street Journal, despite a significant exodus during the COVID-19 outbreak, the Bay Area is witnessing a resurgence, particularly within the artificial intelligence sector. While San Francisco saw a 12% drop in startup funding — settling at $63.4 billion last year, other tech hubs like Austin and Miami experienced even steeper declines, with funding volumes plummeting by 27% and 70%, respectively. “An ecosystem such as SF’s that has been built over the last 50-plus years doesn’t just die because of a pandemic for a few years,” Mo Koyfman, founder of Shine Capital, told The Wall Street Journal. Silicon Valley leaders are getting involved in San Francisco politics, trying to shape a city that’s safer for businesses and families. Koyfman’s firm, based in New York, opened a San Francisco office in January to cement its presence in the city’s flourishing tech ecosystem.

Read entire article: Even SF Detractors Return as AI Bloom Drives Startup Funding; Rival Tech Hubs Austin, Miami See Steep Declines


Matt Wolff | Beacon Commercial Advisors

If you’re thinking about renting a new creative office or flex space, now is an amazing time to do so. Rental rates have plummeted and Landlords have become increasingly eager to fill their vacancies. Let me find you a great space and a great deal. In addition to my listings, I have access to a wide range of leasing opportunities throughout San Francisco — please call Matt at Beacon Commercial Advisors 415-343-2381 or email your requirements to matt@beacon-cre.com.

San Francisco is a beautiful and thriving city! Contact me to discuss your requirements and set up a tour.

Go Giants! Go Ducks!

Matt Wolff
Beacon Commercial Advisors
DRE Lic#: 01329156
870 Market Street, Suite 1065, San Francisco, CA 94102
415-343-2381 | matt@beacon-cre.com
LinkedIn: mnwolff
Website: mattwolff.me

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