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Old Posted Mar 29, 2019, 9:14 AM
CaliNative CaliNative is offline
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Quote:
Originally Posted by Pedestrian View Post
I'd also say the dominance of "tech bros" everywhere and anywhere, whether lined up for ice cream at Bi-Rite or getting drunk on Marina Green or grabbing tables at every eatery in town has also killed any sense of benefit. Many people would love to see it all end a la 2000 - 2003 but it isn't showing any signs of that.

I think the development boom has peaked because building costs have gotten so high, we are at or near Prop. M caps and many of the most desirable sites have been built on, but the tech industry marches on with companies like Saleforce leasing entire buildings not even approved yet (750 Howard).
"Would love to see it end a la 2000-2003 but it isn't showing any signs of that"

Maybe it is. Watched a "Theranos" expose on HBO and it seems the entire company was a total fraud right from the start--a gazillion lab results from a single drop of blood in a mini lab called "Edison" and they believed it. All the big tech angels bought into it and lost bundles. Many of the new IPOs coming to market (Lyft, Uber etc.) apparently will not show a profit for years, if ever. People are willing to bet on something sexy, but in the end gravity wins. For every Apple or Google, how many Theranos's are there? Not sure. But valuations have reached 2000 levels, and the social media stocks have sure gotten black eyes from recent events. Millions have cancelled their Facebook accounts. So maybe the slowdown a la 2000 is coming.
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