Several media sites confirmed Thursday that X (formerly Twitter) is looking to sublease its 74,000-square-foot headquarters at the corner of 1355 Market Street and 1 Tenth Street, suggesting the location could soon be outside of San Francisco.

That X might relocate outside of San Francisco has long been rumored, dating back to when Musk officially purchased the social media site for $44 billion in October 2022. After purchasing the company, many in Texas, including Texas Governor Greg Abbott, urged him to move the company there, similar to what he did with his electric car company Tesla. Many at the company also began to question whether X had been in San Francisco for long, as Musk often clashed with San Francisco politics. The subsequent mass layoffs at X only made people more concerned about a move.

In May 2023, Musk began hinting more seriously at such a move, and city actions against the company, such as requiring it to remove a new sign from its headquarters, only raised fears once again. In May of this year, he remained noncommittal about remaining in the city and dodged questions about whether he planned to keep X in San Francisco. That month, Musk and X made their biggest move yet by getting a company to sublease all of its office space in the city, hinting at a possible move from its headquarters, where they had been based since 2011.

A possible step for X

Although the space has not yet been listed, real estate firm JLL confirmed Thursday that X has put its 74,000-square-foot headquarters at 1355 Market Street and 1 Tenth Street up for sublease for an undisclosed amount. They did not say whether or not the company is looking for new offices in San Francisco, and hinted that X could decide to stay there part-time. Although X has previously backed off potential moves, the last time the company only considered a move across the bay to Oakland.

If X were to move out, it would likely derail San Francisco's plans to reach stable office inventory this year and prevent the city from having an even worse office inventory. In the second quarter of 2024, San Francisco slipped into the category of having 37% of all the city's office space vacancy. However, thanks to the AI ​​boom, the city has started to stabilize this year. If X were to move out, San Francisco would likely not recover for the rest of the year because there is suddenly so much space for sale.

“The sublease announcement is very disturbing,” Anthony Ferry, a San Francisco technology consultant, told the Globe on Friday. “At least if you work for X or are in San Francisco. It indicates a major change of some kind. Best case scenario, they'll just move to other locations in the city or work from home even more. Worst case scenario, X will no longer be in the city.”

“The state would lose a lot of taxpayer money if they left California. They could hope that X would look for cheaper office space in the Bay Area, or even LA. SpaceX is down there, after all. But that's wishful thinking. If anything, Musk will probably be in Texas, probably in the Austin area. You know, but we just don't know. First, we need to find out if they're staying at their current headquarters in any capacity. Second, people need to ask Musk what his plans are now that the cat is out of the bag. But he's not talking, and there's no indication otherwise.”

“What is certain is that something big is happening.”

Further information on X-subletting is expected shortly.

The post X/Twitter To Sublease 800,000 Sq. Ft Of San Francisco HQ – California Globe appeared first on DAILY SAN FRANCISCO BAY NEWS.

Oracle CEO Larry Ellison announced earlier this week that he was moving Oracle from Austin to Nashville, Tennessee, despite moving from California in the first place in 2020.

The software giant was originally headquartered in Santa Clara after its founding in 1977 and moved to Redwood Shores in 1989. Oracle grew into a giant with its headquarters in California. However, in the late 2010s, Oracle began to reconsider remaining in California due to tax issues and unbusiness-friendly practices. The pandemic sealed the deal the next year, as more flexible work policies for employees eliminated the need for such a large headquarters in California. In December 2020, Oracle announced its move to Texas. Ellison also left California and made Hawaii his permanent residence. Many companies also followed suit in 2020 and 2021, including Tesla, which also moved to Austin.

“Oracle is implementing a more flexible workplace policy for employees and has moved its corporate headquarters from Redwood City, California, to Austin, Texas,” Oracle said in its SEC filing in 2020. “We believe these moves best position Oracle for growth and offer our benefits.” Staff with more flexibility about where and how they work. For many of our employees, this means that, depending on their role, they can choose their office location as well as work from home part-time or continuously. Additionally, we will continue to support key Oracle headquarters around the world, including those in the United States such as Redwood City, Austin, Santa Monica, Seattle, Denver, Orlando, and Burlington, among others, and we expect to add additional locations become over time. By implementing a more modern approach to work, we hope to further improve the quality of life and performance of our employees.”

At the time, Austin was planning to become a rival to Silicon Valley. But after just a few years, technology companies began to leave Austin. High costs, lack of support for start-ups, the climate, political differences and numerous other factors caused companies to leave the city. By 2023, most tech companies have either withdrawn their presence from the city, such as Meta, which moved its offices back to California, or disappeared entirely. Many moves were to Houston, Tulsa, Nashville, Miami or, perhaps more embarrassingly, back to Silicon Valley. While Oracle managed to hold on in 2023, they finally announced their move from Austin to Nashville this week.

During a conversation with former Senate Majority Leader Bill Frist on Tuesday, Ellison inadvertently said, “Oracle is moving its massive campus to Nashville and it will ultimately be our headquarters.”

Oracle is moving to Nashville

Then he added, “I shouldn't have said that.” However, with the move now open, Ellison said the move is strategic as Oracle continues to move into the healthcare industry and a move to Nashville would be better for them to expand into this industry. Although Ellison didn't say so, Oracle will also receive about $250 million in tax breaks from Nashville and Tennessee for the move.

“Nashville is also a fantastic place to live,” Ellison added. “It's a great place to raise a family. It has a unique and vibrant culture. And when we surveyed our employees, a large number of employees, Nashville ticked all the boxes. Nashville is also the center of the industry we are most concerned about, which is the healthcare industry.”

He also expanded the new campus itself. It is being designed by Apple Park designer Norman Foster, but looks more like a park than a corporate building.

“The new headquarters will be right on the river. There will be office buildings, a community clinic, restaurants, hotels and a concert hall, as well as a floating stage on the lake for concerts for the community. We want to be part of the community. Our people love it here. And we believe it is the center of our future.”

Experts told the Globe on Friday that the departure of tech companies from Austin or Texas is now in line with what companies do in 2020 when they leave California.

“A lot of companies moved to Texas, particularly Austin, because the state promised them a lot and they thought Austin was this trendy city,” explained San Francisco-based technology attorney David Singh. “But as they discovered, a lot of people absolutely hated Texas. Many companies that moved there were shocked by the number of employees who wanted to leave and go back to work in California or elsewhere a year later, when their original leases expired. They really hated the heat in Texas and house costs were still very high. Not high in San Francisco, but still high enough. For companies, especially startups, they found they had little room to grow in Austin. They stayed away from almost all the investors who were supposed to give them guidance, and they stayed away from the big tech scenes.”

“That's why the 'Texas Miracle' ended so quickly. That's why AI companies remain in Silicon Valley and San Francisco despite the numerous problems there. Everyone is there and can grow faster there. Oracle needed a place to continue growing, and Austin wasn't the right place. It was Nashville because of all the healthcare companies there.

“It will be interesting to see what presence, if any, Oracle maintains in Austin following the move. Oracle still has numerous offices in California because the company likes to be connected to the technology and software community. But Austin? There’s not much connection.”

More information on Oracle's move to Tennessee is coming soon.

The post Oracle Shifting Headquarters Out Of Austin Solely 4 Years After Shifting Out Of California – California Globe appeared first on DAILY SAN FRANCISCO BAY NEWS.

Twitter owner and Tesla CEO Elon Musk gave a non-committal answer towards Twitters future in San Francisco on Tuesday, creating growing concern that the social media company could be moving out of San Francisco soon.

Since the beginning of the decade, many prominent companies in the Bay Area, including Oracle, have left the city to relocate elsewhere in the state or move out, largely due to the growing number of significant problems besieging the Bay Area. However, few saw Musk or his companies doing the same. Originally highly praised for Space X opening in the Los Angeles area and Tesla in the Bay Area, he proceeded to amaze Californians by bringing car manufacturing back to the state by reopening the Fremont Assembly Plant in 2010. Tesla proceeded to grow exponentially throughout the 2010s, aided both by the tech boom and the rising popularity of electric cars.

However, only a few years later, relations grew strained, as California tax rates and business laws began affecting the company to such a degree that Musk looked elsewhere. Threats of unionization and the COVID-19 pandemic shutting down his factory for months proved to be final straws for Tesla and Musk.

In late 2020, Musk moved out of California to tax-friendly Texas. Only a year later, Musk moved the Tesla HQ from Palo Alto to Austin. While many Tesla positions ultimately stayed in California, with the car plant staying and a new factory opening up in Lathrop, Tesla continued to defocus California, opening up other factories in Nevada and Texas, as well as laying off hundreds of workers in California. While he did bring the Global Engineering and AI HQ of Tesla back to Palo Alto in February, both Tesla and Musk himself are now far removed from California.

Last year, Musk set out to buy Twitter, but went back and forth on plans. But, with pressure mounting, Musk finally bought the company last April for $44 billion. Problems plagued the company, with Twitter immediately losing users, Musk firing around 80% of employees, and numerous issues surrounding setting up living spaces in their San Francisco headquarters to let workers sleep during long work days. The San Francisco Department of Building Inspection is currently investigating the latter for violations, including allegations from employees that the company disabled lights and added locks that wouldn’t open during an emergency.

With so many issues, the question of Twitter leaving has been a constant question since Musk’s acquisition in October. On Tuesday, during the Wall Street Journal’s CEO Council Summit in London, Musk gave an unusually non-committal statement on if Twitter would be staying in San Francisco. This led to worry on Wednesday for many in the city that San Francisco would be losing a large employer and a huge tax-paying company.

“San Francisco currently is facing a budget deficit of $780 million in the next few years. They can’t afford to lose even more big companies,” explained Charlotte Welsh, a budget analyst who has worked for cities in California, Oregon, and Idaho, to the Globe on Wednesday. “Musk and Twitter are holding a huge card right now for San Francisco’s future. And, as we saw with the Tesla move, we know that he is willing to play it. There could be a backlash from employees, like when Disney employees refused to move to Florida from California until that was fully cancelled last week. The city could also try to block the move as Twitter is currently being investigated.

“We still don’t know for certain though what exactly will happen. But it is up in the air now. If you told the city 5 years ago Twitter was planning to move to Florida or Texas, they’d just laugh at you. Today, it’s a big threat.”

As of Wednesday, Musk has not followed up on a possible Twitter move.

The post Elon Musk Hints At Doable Twitter Transfer Out Of San Francisco – California Globe appeared first on DAILY SAN FRANCISCO BAY NEWS.

MARCIA DUNN AP Aerospace Writer

2 months ago

(AP) – A rare blue supermoon — the closest full moon of the year — dazzled stargazers Wednesday night.

Saturn joined the celestial spectacle, visible alongside the moon, at least where skies were clear.

It was the second full moon of August, thus the blue label. And it was unusually close to Earth, therefore a supermoon.

The moon appeared to be bigger and brighter than usual, given its close proximity to Earth: just 222,043 miles or so. The Aug. 1 supermoon was more than 100 miles farther away.

A supermoon rises over Petronas Twin Towers in Kuala Lumpur, Malaysia Thursday, Aug. 31, 2023. The cosmic curtain rose with the second full moon of the month, also known as a blue moon. A little bigger and brighter thanks to its slightly closer position to Earth. (AP Photo/Vincent Thian)The blue supermoon sets over the White Mountain National Forest at sunrise, Thursday, Aug. 31, 2023, in Carroll County, New Hampshire. The next blue superman won’t occur until 2037. (AP Photo/Robert F. Bukaty)A supermoon rises over a headstone at a cemetery in Sydney, Australia, Thursday, Aug. 31, 2023. The cosmic curtain rose with the second full moon of the month, also known as a blue moon. A little bigger and brighter thanks to its slightly closer position to Earth. (AP Photo/Mark Baker)A blue supermoon rises between the Salesforce Tower and the Palace of Fine Arts in San Francisco, Wednesday, Aug. 30, 2023. (AP Photo/Eric Risberg)The full moon rises beyond a sign in the outfield during a baseball game between the Kansas City Royals and the Pittsburgh Pirates on Wednesday, Aug. 30, 2023, in Kansas City, Mo. The moon was a rare blue supermoon, named so because it was the second full moon in August, thus the blue label, and it was unusually close to Earth, therefore a supermoon. (AP Photo/Charlie Riedel)A man watches from the upper deck of a baseball game between the Kansas City Royals and the Pittsburgh Pirates as the moon rises in the distance Wednesday, Aug. 30, 2023, in Kansas City, Mo. The moon was a rare blue supermoon, named so because it was the second full moon in August, thus the blue label, and it was unusually close to Earth, therefore a supermoon. (AP Photo/Charlie Riedel)The supermoon, blue moon, rises behind a thick layer of clouds near a statue of the angel Moroni perched atop The Church of Jesus Christ of Latter-day Saints, Wednesday, Aug. 30, 2023, in Kensington, Md. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. It’s dubbed a supermoon because it’s closer to Earth than usual, appearing especially big and bright. (AP Photo/Julio Cortez)A rare Blue Supermoon rises over Lake Michigan as spectators watch from Chicago’s 31st Street beach Wednesday, Aug. 30, 2023. (AP Photo/Charles Rex Arbogast)People watch a supermoon rise above Lisbon, Wednesday, Aug. 30, 2023. It’s the month’s second supermoon, when a full moon appears a little bigger and brighter thanks to its slightly closer position to Earth. (AP Photo/Armando Franca)A supermoon rises over Montevideo, Uruguay, Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, also known as a blue moon. (AP Photo/Matilde Campodonico)Akıncı unmanned aerial craft passing in front of the Supermoon during a demonstration flight on the first day of Teknofest technology and aerospace festival in Ankara, Turkey, Wednesday, Aug. 30, 2023. (AP Photo/Emrah Gurel)The full moon rises beyond the Martyrs statue, in downtown Beirut, Lebanon, Wednesday, Aug. 30, 2023. August 30 will see the month’s second supermoon, when a full moon appears a little bigger and brighter thanks to its slightly closer position to Earth. (AP Photo/Hussein Malla)The supermoon rises behind the Chlemoutsi medival castle in Kyllini, Peloponnese, Greece, Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. (AP Photo/Petros Giannakouris)A supermoon rises over the Colosseum in Rome, Wednesday, Aug. 30, 2023. (AP Photo/Gregorio Borgia)The moon known as blue moon rises behind the small village of Ujue, northern Spain, Wednesday, Aug. 30, 2023. (AP Photo/Alvaro Barrientos)The August Super Blue Moon sets behind a historical building and the St. Basil’s Cathedral, right, as people walk in Red Square in Moscow, Russia, Wednesday, Aug. 30, 2023. The cosmic curtain rises Wednesday night with the second full moon of the month, the reason it is considered blue. It is dubbed a supermoon because it is closer to Earth than usual, appearing especially big and bright. (AP Photo/Alexander Zemlianichenko)The supermoon rises in the sky over the houses of Gaza City, Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. It’s dubbed a supermoon because it’s closer to Earth than usual, appearing especially big and bright. (AP Photo/Adel Hana)The supermoon rises in the sky of Gaza City, Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. It’s dubbed a supermoon because it’s closer to Earth than usual, appearing especially big and bright. (AP Photo/Adel Hana)The full moon rises behind the Galata tower in Istanbul, Turkey, Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. It is dubbed a supermoon because it is closer to Earth than usual, appearing especially big and bright.(AP Photo/Khalil Hamra)The supermoon rises behind Ayioi Anargiroi Orthodox church near Ayia Napa and Protaras in the eastern Mediterranean island of Cyprus, on Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. It is dubbed a supermoon because it is closer to Earth than usual, appearing especially big and bright. (AP Photo/Petros Karadjias)The supermoon rises over the Mediterranean sea as a boat passes at Konnos bay near Ayia Napa and Protaras on the eastern part of the island of Cyprus, on Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. It’s dubbed a supermoon because it’s closer to Earth than usual, appearing especially big and bright. (AP Photo/Petros Karadjias)The supermoon rises behind the ancient temple of Poseidon at Cape Sounion, about 70 kilometers (45 miles) south of Athens, Greece, Wednesday, Aug. 30, 2023. The cosmic curtain rose Wednesday night with the second full moon of the month, the reason it is considered blue. It’s dubbed a supermoon because it’s closer to Earth than usual, appearing especially big and bright. (AP Photo/Thanassis Stavrakis)A Supermoon is seen on the sky as a woman walks on the street, in Vosloorus, east of Johannesburg, South Africa, Wednesday, Aug. 30, 2023. August 30 sees the month’s second supermoon, when a full moon appears a little bigger and brighter thanks to its slightly closer position to Earth. (AP Photo/Themba Hadebe)The supermoon rises near the equestrian statue of Damdin Sukhbaatar on Sukhbaatar Square in Ulaanbaatar, Mongolia, on Wednesday, Aug. 30, 2023. August 30 sees the month’s second supermoon, when a full moon appears a little bigger and brighter thanks to its slightly closer position to Earth. (AP Photo/Ng Han Guan)A peacock sits on a chimney as a nearly full moon rises behind it, in Hyderabad, India, Wednesday, Aug. 30, 2023. August 30 will see the month’s second supermoon, when a full moon appears a little bigger and brighter thanks to its slightly closer position to Earth. (AP Photo/Mahesh Kumar A.)

If you missed it, it will be a long wait: The next blue supermoon isn’t until 2037. But another regular supermoon is on the horizon at the end of September, the last one of the year.

The post AP PHOTOS: Uncommon blue supermoon dazzles stargazers across the globe appeared first on DAILY SAN FRANCISCO BAY NEWS.

Rowelto Associates provides detailed information on the Hvac Globe Valve market: industry size, share, growth, segmentation, manufacturers and progress, main trends, market drivers, challenges, standardization, deployment models, opportunities, strategies, future roadmaps, and Annual forecast for the year 2029. This report provides a professional and in-depth analysis of the current status of the Hvac Globe Valve Market, including major players such as manufacturers, suppliers, distributors, traders, customers, and investors. The report also helps you understand the dynamic structure of the Hvac Globe Valve market by identifying and analyzing market segments.

Combined with important market challenges, the potential of this industry sector has been fully tapped. The current market situation and prospects of this segment have also been examined. In addition, key market strategies, including product development, partnership, integration, and acquisition, will be studied. Upstream raw materials and equipment and downstream demand are also analyzed.

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The report contains the analysis of impact of COVID-19 pandemic on the revenue of market leaders, followers, as well as disrupters. Since lock down was applied differently in various regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long-term impact on the market, same will help decision makers to prepare the outline for short term and long-term strategies for companies by region.

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Hvac Globe Valve Market Report Scope

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Competitive Landscape

Concurrence for Hvac Globe Valve has grown since supply and demand have risen over the very past decade in a pretty major way. This study specifically offers an in-depth examination of the presence, relative sizes, product supply and market positions of different small, medium and micro companies in the pre- and post-pandemic industry. The study also gives an overview of the strategy of competitors with respect to business and business offices and functions. The study also discusses business activities, technological infrastructure, marketing and financial capacity initiatives. The report thus generally offers shareholders and stakeholders a very excellent overall grasp of the market.

TOC highlights:

About the Hvac Globe Valve industry (definition and types of industry, main market activities, similar industries)

• Global Market Competition Outlook (Markets by Regions, Sales and Growth Rate 2022-2029, Revenue of Major Players (M USD) in 2020, Market by Types, Market by Applications, Market Revenue and Growth Rate 2021 -2022, market consumption and growth rate 2020-2021, market price analysis 2021-2022)
• Global Hvac Globe Valve Market Share (Top Production Market Share by Players, Market Share of Top Revenue Players (M USD), Top Production Market Share and Revenue (M USD) by Region in 2022, up to 2029)
• Supply chain analysis (industry supply chain analysis, raw materials market analysis, manufacturing equipment supplier analysis, production process analysis, production cost structure benchmarks, end-user market analysis)
• Company profiles (company details, product information, revenue (M USD), price and operating profit)
• Globalization and trade (business locations, supply channels, marketing strategy, entry barriers)
• Distributors and customers (main distributors and contact information by regions, main customers and contact information by regions)
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• Global Hvac Globe Valve Market Forecast to 2031 (Demand Forecast by Regions to 2029, Market Revenue and Growth Rate 2020-2021, Market Consumption)

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