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San Francisco: Where Real Estate and Technology Collide
San Francisco is the global headquarters for many technology companies, and the industry has minted countless entrepreneurs and investors. Salesforce $CRM is among the largest software companies based there, and its gigantic Salesforce Tower—completed in 2018—represents a crowning achievement for its founder, Marc Benioff. I was there in late July and was curious to experience the city again in a post-Covid world.

One Friday morning, I walked up Mission Street to the building with a cup of Starbucks ($SBUX) coffee in my hands and felt a sense of awe. At 1,070 feet with a grid of metal fins running from the base of the building to the roof, Salesforce Tower was an architectural marvel. At the same time, I could not help but wonder how much of the office space would be utilized that day.

The office property market is undergoing seismic changes amidst the proliferation of remote and hybrid work. San Francisco is the epicenter of multiple headwinds impacting commercial real estate: extensive layoffs, weakened office demand, and a disproportionate concentration of technology companies most adaptive to a remote or hybrid work environment.

Have a read of this week's post and do subscribe to my weekly blog, Consume Your Own Tech Investing too.

Share your thoughts on remote work, retail shops, office space, and San Francisco in the comments section below.

P.S.: I am rooting for San Francisco to make a comeback.

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'When There's Blood in the Streets, Buy Property?'
Famous saying by Baron Rothschild needs plenty of qualifications, especially in a post-Covid world. By Benjamin Tan

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