If you're thinking about moving from a FAANG bank to a major bank, you'll find no shortage of interested firms – even if you've taken a short career break in the process.

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Jake Johnson joined JPMorgan this month as chief web officer and managing director. Johnson moved to New York for the opportunity, leaving Meta – where he started when it was still called Facebook – around this time last year.

Johnson spent three and a half years as a senior manager on the production engineering team at Facebook/Meta, where he joined (without a career break) from Amazon. He was responsible for Meta's cluster management system, Twine, formerly known as Tupperware. Twine is responsible for Meta's persistent data storage products for Facebook, Instagram, Messenger and WhatsApp.

JPMorgan is Johnson's first foray into finance, having previously worked primarily in the industrial sector. JPM is a good entry into finance; the bank is investing heavily in technology companies and hiring new staff, while financial rivals such as Citi are cutting both their spending and headcount.

According to Levels.fyi, Meta pays senior product managers $600,000 and senior software developers $1.3 million and more.

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An empty 435,000-square-foot office tower leased by Meta Platforms in San Francisco’s South of Market has landed a tenant to take up less than 10 percent of its floors.

Navan, a travel tech company based in Palo Alto, subleased 36,000 square feet of offices from the Menlo Park-based parent of Facebook at 181 Fremont Street in SoMa’s Transbay District, the San Francisco Chronicle reported.

Terms of the deal were not disclosed.

The 56-story building, which has luxe condominiums on the top floors, is owned by Jay Paul Company, based in the city. 

Meta leased the offices after the $500 million building was completed in 2018. Its lease ends in March 2031. It put the building up for sublease in January, months after announcing it would spend $3 billion to end global office leases to cut costs.

But the sublease, the largest in the city, came during record office vacancies in San Francisco as employees shifted to remote work.

Office vacancy in the city was a record 33.9 percent in the third quarter, according to preliminary figures from CBRE. The brokerage now says the vacancy rate last month rose to 34.7 percent, according to the Chronicle.

The deal by Navan to take up 8.3 percent of the San Francisco office tower may suggest a market turnaround as Anthropic inks a sublease at Slack’s 230,000-square-foot headquarters in South of Market and other artificial intelligence companies take up offices in the newly dubbed “AI capital of the world.”

Navan, once known as TripActions, helps customers manage travel expenses. While the firm rents offices at 44 Montgomery Street, it’s not clear if it will keep offices there and on Fremont Street.

— Dana Bartholomew

Read more

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San Francisco: Elon Musk and Mark Zuckerberg on Sunday traded barbs at each other before their upcoming cage fight at an epic location in Italy, with the Tesla CEO challenging Meta Founder to fight in his backyard on Monday.

Musk posted a chat with Zuckerberg on X (formerly Twitter), saying he will be in Palo Alto (California) on Monday and offered to fight on Zuckerberg’s “Octagon”.

Zuckerberg apparently messaged Musk: “If you still want to do a real MMA fight, then you should train on your own and let me know when you’re ready to compete”.

“I don’t want to keep hyping something that will never happen, so you should either decide you’re going to do this and do it soon, or we should move on,” Zuckerberg said.

Musk replied: “1 have not been practicing much, apart from a brief bout with Lex Fridman today. While I think it is very unlikely, given our size difference, perhaps you are a modern day Bruce Lee and will somehow win”.

American author-journalist Walter Isaacson first posted that Musk is asking Zuckerberg to fight at his home in Palo Alto, California.

In a tweet, Isaacson who has been the President and CEO of the Aspen Institute, a nonpartisan policy studies organisation, said: “I got this text message from Elon Musk at 4:44am CT showing a screenshot of some text messages in which he tells Zuckerberg they should fight this Monday at Zuckerberg’s home in Palo Alto”.

Zuckerberg later posted on Threads that “I think we can all agree Elon isn’t serious and it’s time to move on”. 

“I offered a real date. Dana White offered to make this a legit competition for charity. Elon won’t confirm a date, then says he needs surgery, and now asks to do a practice round in my backyard instead,” said the Meta Founder. 

“If Elon ever gets serious about a real date and official event, he knows how to reach me. Otherwise, time to move on. I’m going to focus on competing with people who take the sport seriously,” Zuckerberg added.

Meta Founder and CEO earlier said he was “not holding his breath” for Musk to agree to a fight date.

Musk had said he has been in contact with the Italian prime minister and minister of culture about hosting the event.

However, Zuckerberg said no date has been agreed.

Zuckerberg, 39, holds a blue belt in jiu-jitsu and recently won gold and silver medals in a tournament.

This post was last modified on August 13, 2023 11:09 pm

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Mark Zuckerberg reportedly sold he and his wife’s San Francisco home for $31 million in the city’s highest grossing sale so far this year, according to The Real Deal. The couple renovated the more than 7,000-square-foot house, which the Facebook co-founder purchased for $10 million in 2012 mere months after the social networking site went public, to include a wine room, a greenhouse and a wet bar. According to the house’s Redfin listing, the nearly century-old building was built in 1928 and rests on a quarter-acre. If you’re worried about the tech billionaire’s living situation, don’t be: Zuckerberg owns at least nine other properties across the country, including several others in California and a plantation in Hawaii, according to Business Insider.

Read it at Bloomberg

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MENLO PARK (CBS SF / AP) – Under attack in the media and in Washington, Facebook boss Mark Zuckerberg announced on Thursday that he would change the name of the company he founded to “Meta” to reflect the attempt at social media – To reflect giants, move on to its “next” chapter, ”and away from the controversy that entangles it.

The announcement makes Facebook one of Meta’s eponymous services alongside Instagram and WhatsApp.

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“I’ve been thinking a lot about our identities as we begin this next chapter,” he said. “Facebook is one of the most widely used products in world history. It’s an iconic social media brand, but increasingly, it just doesn’t encompass everything we do. “

He said the name reflected his vision of a futuristic metaverse.

Skeptics point out, however, that this also appears to be an attempt to change the subject from the Facebook Papers, a leaked document find dubbed by a consortium of news organizations including The Associated Press.

Many of these documents, first described by former Facebook employee and whistleblower Frances Haugen, have revealed how Facebook has ignored or downplayed internal warnings of the negative and often harmful consequences its algorithms created or created for social networks around the world have enlarged.

“I know some people will say that this is not the time to focus on the future, and I want to acknowledge that there are important issues in the present that need to be worked on. There will always be, ”said Zuckerberg. “For a lot of people, I’m just not sure if there will ever be a good time to focus on the future. But I also know that many of you feel the same way as me. “

“We live for what we build,” added Zuckerberg. “And while we make mistakes, we keep learning and building and moving.”

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Zuckerberg believes the Metaverse will reach a billion people within the next decade. The Metaverse, he says, will be a place where people can interact, work, and create products and content in what he hopes will be a new ecosystem that will create millions of creative jobs.

The announcement comes amid an existential crisis for Facebook. Following the revelations in the Facebook papers, it is subject to tightened legislative and regulatory scrutiny in many parts of the world.

Facebook, the app, will stay with Instagram, WhatsApp and Messenger. the corporate structure of the company will not change either. But on December 1st the shares will trade under the new ticker symbol “MVRS”.

Metaverse, he said, was the new way. A fan of classics, Zuckerberg explained that the word “meta” comes from the Greek word “beyond”.

A rebranding of the company will not solve the myriad problems with Facebook that have been exposed in thousands of internal documents over the past few weeks. It probably won’t even make people stop calling the social media giant Facebook – or a “social media giant” for that matter.

But that doesn’t stop Zuckerberg, who is apparently eager to move on to his next big thing as crisis after crisis looms in the company he founded.

While largely dismissing revelations from the Facebook Papers as unfair criticism, Zuckerberg has focused on building a virtual environment that you can walk into instead of just looking at a screen.

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Just as smartphones are replacing desktop computers, Zuckerberg is betting that the Metaverse will be the next way people interact with computers – and with each other. If Instagram and messaging were Facebook’s forays into mobile evolution, Meta is its bet on the Metaverse. And what’s better than a name change to show how serious he is?

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