Something must be shifting with the local economy, and as San Francisco continues to be a hotbed of artificial intelligence innovation, the people moving here for a piece of that gold rush are finding what many of us found coming here in years past: really high rents.

While much media attention has been paid to everyone leaving San Francisco, the reality is that rents still haven’t gotten much cheaper in the last few years — a little, maybe, for new units, but not a lot. And highlighting the fact that tech newcomers are arriving every day to make their AI dreams come true and they’re having sticker shock about rents here, we have a new story from ABC 7 about a new iteration of the sleeping-pod dorms we used to see around the time of the last tech boom.

Now, SFist’s Apartment Sadness column — which came about back during the last tech boom because of the wealth of hilariously awful and hilariously expensive apartments that were popping up for rent on Craigslist — featured its share of pod-type and bunkbed arrangements eight and nine ago. Somebody was even renting out a box truck as a living space, and somebody with a house near Google’s headquarters in Mountain View was renting a tent in their backyard for $965.

Back around 2015 there were literally dozens of listings for communal living situations where someone was making a buck off these newcomers by renting them bunks and packing 13 or 20 people into a three-bedroom apartment. And there were lots of news stories about twentysomethings coming to town and living this neo-commune life, with laptops.

If one thing never changes, it’s the frugality of newly arrived engineers and so-called founders, who are just all about the work and can’t be bothered to, like, have sex or pay for a place where they could bring someone to have said sex. There’s just too much work to do! And why pay $2,000 or $3,000 for an apartment when all you’re going to be doing there is sleeping a few hours?

So, we have a new story — a story that pretends, anyway, that this phenomenon is not just a replay of eight years ago — about a pod-rental outfit that appears to be in the Mission District, renting little sleeping pods for $700 a month.

“The pod is the size of a twin bed. So it’s not very large but it gets the job done. You just need a place to sleep,” says SpellCraft AI founder Christian Lewis, speaking to ABC 7.

Lewis has a pretty familiar story too. He came here from Illinois, he put off coming here because it’s so expensive, but now that he’s here he wants to stay and he’s “met some of the smartest people I’ve met in my entire life.”

Lewis says there are at least 20 people living in this pod palace who are working in the AI space — they don’t give the address, but it appears to be this one in Mint Plaza, which was first proposed in 2021 and which still appears to be seeking permits for a full renovation inside. SF YIMBY reported in July that the firm behind the pod hotel at 12 Mint Plaza, Elsey Partners, wants ultimately to have a full-service, eight-story, Japanese-style pod hotel here with 137 pods and a basement spa.

Rendering of the 12 Mint Plaza pod hotel, at center, courtesy of Elsey Partners

And just as some economists have discussed over the years, the human capital and synergies of places like San Francisco and Boston, surrounded by world-class higher-education institutions as well as great amenities, will likely always have high rents because the supply-and-demand equation is different than in many places.

“Like smart engineers, investors, incubators all that sort of stuff,” Lewis tells ABC 7 of who he’s met here. “There are tons of resources, tons of human capital here. That is why I’m here and why I’m staying here.”

Someone should tell these people that you can, if you’re planning to stay, just go on Craigslist and for a few hundred dollars more find a normal-sized room that can fit an adult-sized bed in any number of neighborhoods around town.

Related: Proposed Mint Plaza ‘Pod Hotel’ Hits a Snag, as Rival Pod Hotel Group Claims Trademark Infringement

All previous editions of Apartment Sadness

The post ‘Founders’ Are Transferring to SF and Residing In Sleeping Pods Once more appeared first on DAILY SAN FRANCISCO BAY NEWS.

A dormant bitcoin (BTC) wallet containing over 1,037 bitcoins — worth $31 million at current prices — suddenly woke up after 11 years of sleep and transferred its entire stash.

The 1037 BTC was transferred at a bitcoin price of $29,956 and went into effect at around 10:51 UTC on July 22 at block height 799701, according to BitInfoCharts.

The long-dormant address received the 1,037 BTC on April 11, 2012, when the BTC price was just $4.92, on-chain analytics platform Lookonchain explained on July 22. That means the stash was only worth about $5,108 at the time.

A BTC whale that has been dormant for 11 years transferred all $1,037.42 BTC ($37.8 million) to a new address “bc1qtl” an hour ago.

The whale received $1,037.42 BTC ($5,107 at the time) on April 11, 2012 when the price was $4.92.https://t.co/k8ZmO5vc8X pic.twitter.com/xBaw2dQfY8

— Lookonchain (@lookonchain) July 22, 2023

Data from blockchain aggregator Blockchair shows that wallet address “bc1qt180…” — which appears to be a new wallet — was the recipient of the $31 million.

According to cryptocurrency pricing platform CoinGecko, the original Bitcoin wallet balance hit its peak price of $71.6 million on Nov. 10, when BTC reached its all-time high of $69,044.

The US government has been one of the biggest BTC players lately, transferring nearly 10,000 BTC worth $299 million in a series of transactions on July 12 in connection with the Silk Road confiscation.

It is not clear if the transactions were sent to cryptocurrency exchanges or if they remain in the custody of the Justice Department.

More mysterious wallet movements

On June 11, another mysterious Bitcoin whale transferred 1,400 BTC — worth $36 million at the time — to a Pay-to-Taproot (P2TR) address. CryptoQuant CEO Ki Young Ju believes the motive behind this transaction may have been privacy enhancement.

In early April, another Bitcoin address transferred 2,071 BTC — worth $60 million — almost a decade after catching BTC at $663, according to Lookonchain.

Three months earlier, a massive transfer of 26,056 BTC, worth $250 million, was made from another bitcoin address. At BTC’s all-time high, the wallet was worth more than $1 billion.

Related: Bitcoin’s cloudy price action spurs buying interest in LINK, FIL, SNX, and THETA

According to a chart by on-chain analytics firm Glassnode and shared by cryptocurrency researcher Will Clemente, despite some high-quality transfers, over 55% of BTC hasn’t moved in over two years:

Dormant bitcoin is the best #bitcoin
By @WClementeIII
https://t.co/RwcCWOdIod

— Miklos Denkler (@MiklosDenkler) July 23, 2023

The price of BTC is currently at 30,082. Although Bitcoin’s price has increased by 81.8% in 2023, it is still 56.4% below its all-time high set in November 2021, according to CoinGecko.

Magazine: Hall of Flame: Wolf Of All Streets worries about a world where Bitcoin hits $1 million

The post Sleeping Bitcoin pockets stirs after 11 years, shifting over $30M appeared first on DAILY SAN FRANCISCO BAY NEWS.

FILE ART- A man who works with the San Francisco Day Labor program hauls a cabinet.

SAN FRANCISCO – For the last week or more, Marcos Saul Aurora Gonzalez has been sleeping on a street corner in San Francisco.

He wasn’t always homeless. But since the Bay Area stay-at-home order shut down non-essential business, the 37-year-old from El Salvador has not been able to find steady work as a handyman or in construction. He had been staying with his girlfriend but was told to leave her place recently because she lives in a city-owned apartment, which allows only one person to live there.

“There are a lot of people like me,” Gonzalez said in Spanish through a translator.

On a recent night, he slept near six other men like himself, he said. These are men who have no jobs, no chance at a federal stimulus boost because of their immigration status, no right to collect unemployment, and now, nowhere to go.

Some of the men have found places for their wives and children to sleep, but they have taken to the streets as there isn’t enough room at their friends’ and relatives’ homes, Gonzalez said. Other families he knows are sleeping in cars. “It’s super, super cold in the morning,” he said.

The other morning, he was the only one with tortillas and one of the men asked quietly, “Can you share?” The six men sat, six feet apart, on the corner, all taking bites of his meaner breakfast. “We gathered there,” he said, “sharing our stories. Nobody has enough for rent. None of us had eaten. Everyone is worried about how they will provide for their families.”

Coronavirus quarantine is becoming catastrophic for undocumented immigrants

There are an estimated 3 million undocumented immigrants in California and last month, Gov. Gavin Newsom expressed support for them, saying they account for 10% of California’s labor force and provide essential services in the state. He also announced a $125 million fund for undocumented immigrants, although none of the money has been distributed.

There are plenty of critics who say people like Gonzalez should not be helped because they came to the country illegally. Two conservative groups south of Newsom over giving taxpayer money to undocumented immigrants.

However, each person who has come to the United States has a personal story about immigrating and the challenge of settling here.

In Gonzalez’s case, he fled here about two years ago, escaping MS-13 gangs who had already shot him and vowed to kill him, he said. He has an attorney who is helping him stay in this country permanently. But still, his status is undocumented.

Gonzalez is one of about 250 members of the 30-year-old San Francisco Day Labor Program and Women’s Collective, both of which fall under Dolores Street Community Services. Francisco Herrera helped found the program and is now co-director with Guillermina Castalenos. Their operating budget is roughly $800,000 a year.

One of the services the program provides is connecting undocumented workers with people who need help cleaning homes, gardening, landscaping and construction work.

Dispatchers hope that they soon get an influx of calls matching neighbors’ needs to laborers and domestic workers who are desperate to provide services and earn a paycheck as the relaxed stay-at-home order for the Bay Area now allows certain outdoor professions.

On Monday, some stay-at-home orders eased, allowing for all construction jobs and landscaping. Cleaning homes and yard work are also allowed.

Q&A: The status of California’s $125M undocumented immigrant fund

Gonzalez has not applied for any of the free hotel rooms in the city, nor has he applied for any grant money.

“I am just focused on getting a job,” he said, adding that he typically stands at 26th and Harrison streets in San Francisco, hoping to get hired for the day.

FILE ART – A member of the San Francisco Day Labor program paints a wall.

Gonzalez and his girlfriend, who is a domestic worker, would love to be hired. But they say that so far, they and their friends have been turned down because people are worried about bringing them into their homes, worried they might have coronavirus, especially since he has been sleeping on the streets.

While he is not experiencing any symptoms now, Gonzalez said he, too, is “very afraid of getting sick. I am very, very vulnerable.”

Herrera said that’s why his program has been pushing to get Gonzalez and San Francisco’s other 8,200 homeless people into hotel rooms in the city, and he’s frustrated with why it’s been taking so long. Herrera also said that per Cal-OSHA guidelines, employers must provide the proper personal protective equipment and sanitizers to workers to keep everyone safe. Laborers in the program are also trained in proper COVID-19 social distancing and procedure, Herrera said.

Newsom: California unemployment hours extended; $125M fund for undocumented immigrants

Gonzalez described his situation as pretty dire.

“I’m at the edge,” he said. “If I don’t get a job soon, I don’t even want to think about the situation I will be in.”

Still, despite his life now on the streets, Gonzalez said it’s still better here than in El Salvador.

“I’m hungry. I have no place to sleep. But it’s still better here,” he said. “At least I’m not afraid I’ll be killed or tortured. The level of violence there is not to be believed.”

IF YOU’RE INTERESTED: In hiring a worker from the San Francisco Day Labor Program and Women’s Collective call 415-252-5375. More information about the programs can be found here. You can also donate to Fighting for our Workers (or any of the groups listed below.) You can also email Louis Legowsky at the program at sfdlp@3358@gmail.com.

FILE ART – Domestic workers clean homes as part of San Francisco’s Women’s Collective.

BAY AREA FUNDS TO HELP THE UNDOCUMENTED

Fighting for our Workers (This is the fund that would go directly to Marcos Saul Aurora Gonzalez. You can specify which worker you’d like to honor.)

East Oakland DREAMers

StimulusPledge.org

OURFund Oakland

Undocufund-sf.org

Mission Families Relief Fund

Dolores Street Community Services

Lisa Fernandez is a reporter for KTVU. Email Lisa at lisa.fernandez@foxtv.com or call her at 510-874-0139. Or follow her on Twitter @ljfernandez

The post Immigrants with out work discover themselves sleeping on San Francisco streets appeared first on DAILY SAN FRANCISCO BAY NEWS.

FILE ART – A man working with the San Francisco Day Labor program hauls a cabinet.

SAN FRANCISCO – – Marcos Saul Aurora Gonzalez has slept on a street corner in San Francisco for the past week or more.

He wasn’t always homeless. But since the Bay Area stay-at-home order stopped the non-essential business, the 37-year-old from El Salvador has not been able to find steady work as a craftsman or in construction. He was living with his girlfriend but was recently asked to leave her place because she lives in a city apartment that can only accommodate one person.

“There are a lot of people like me,” Gonzalez said in Spanish through a translator.

He slept like himself with six other men one last night, he said. These are men who are out of work, have no chance of a federal incentive due to their immigration status, have no right to collect unemployment, and now have nowhere to go.

Some of the men have found places for their wives and children to sleep, but they have taken to the streets because there is not enough space in their friends and relatives’ homes, Gonzalez said. Other families he knows sleep in cars. “It’s super, super cold in the morning,” he said.

The next morning he was the only one with tortillas and one of the men asked quietly, “Can you share?” The six men sat in the corner six feet apart, taking every bite from his meager breakfast. “We gathered there,” he said, “and shared our stories. Nobody has enough to rent. Neither of us has eaten. Everyone is concerned about how they will look after their families.”

The coronavirus quarantine will be catastrophic for undocumented immigrants

There are an estimated 3 million undocumented immigrants in California. Last month, Governor Gavin Newsom expressed his support for them, stating that they make up 10% of the California workforce and provide essential services in the state. He also announced a $ 125 million fund for undocumented immigrants, although no money was distributed.

There are many critics who say people like Gonzalez should not be helped because they came into the country illegally. Two conservative groups sued Newsom for giving taxpayers’ money to undocumented immigrants.

However, everyone who has come to the United States has a personal story about immigration and the challenge of settling here.

In Gonzalez’s case, he fled here about two years ago and escaped the MS-13 gangs who had already shot him and vowed to kill him, he said. He has a lawyer to help him stay in this country permanently. Even so, its status is not documented.

Gonzalez is one of approximately 250 members of the 30-year San Francisco Day Labor Program and Women’s Collective, both of which fall under Dolores Street Community Services. Francisco Herrera helped found the program and is now co-director of Guillermina Castallenos. Your operating budget is around $ 800,000 per year.

One of the services of the program is to connect undocumented workers with people in need of help with house cleaning, gardening, landscaping, and construction work.

Dispatchers hope they will soon receive an influx of calls to meet the needs of the neighbors, to blue-collar and domestic workers desperate to provide service and earn a paycheck, as the relaxed ordering now dictated what to do in the Bay Area Outdoor professions made possible.

On Monday, some orders for the stay at home were relaxed so that all construction and landscaping work was possible. Cleaning houses and gardening is also permitted.

Questions and Answers: The Status of the California Undocumented Immigration Fund of $ 125 million

Gonzalez has not applied for one of the free hotel rooms in town, nor has he applied for a scholarship.

“I’m just focused on getting a job,” he said, adding that he’s usually located on 26th and Harrison Streets in San Francisco, hoping to be hired for the day.

FILE ART – A member of the San Francisco Day Labor program paints a wall.

Gonzalez and his girlfriend, who is a domestic worker, would like to be hired. But they say that so far she and her friends have been turned down because people are worried about taking her to their homes fearing they could have coronavirus, especially since he slept on the street.

While he has no symptoms now, Gonzalez said that he, too, is “very afraid of getting sick. I am very, very vulnerable.”

Herrera said that’s why his program pushed Gonzalez and San Francisco’s other 8,200 homeless people to hotel rooms in the city and he’s frustrated with why it took so long. Herrera also said that as per Cal-OSHA guidelines, employers must provide workers with the correct personal protective equipment and disinfectants to keep everyone safe. The program’s workers are also trained in proper social distancing and how to deal with COVID-19, Herrera said.

Newsom: California Unemployment Period Extended; $ 125 million Undocumented Immigrant Fund

Gonzalez described his situation as pretty dire.

“I’m on the verge,” he said. “If I don’t get a job soon, I don’t even want to think about the situation I’m going to find myself in.”

Despite his life on the streets, Gonzalez said it was still better here than El Salvador.

“I’m hungry. I have no place to sleep. But it’s still better here,” he said. “At least I’m not afraid of being killed or tortured. The level of violence there is hard to believe.”

IF YOU ARE INTERESTED: If hiring a worker from the San Francisco Day Labor Program and Women’s Collective, call 415-252-5375. Further information on the programs can be found here. You can also donate to Fighting for our Workers (or one of the groups listed below). You can also email Louis Legowsky to the program at sfdlp @ 3358 @ gmail.com.

FILE ART – Domestic workers clean their homes as part of the San Francisco Women’s Collective.

BAY AREA FUNDS TO HELP THE UNGENATED

Fight for our workers (This is the fund that goes directly to Marcos Saul Aurora Gonzalez. You can indicate which worker you want to honor.)

East Oakland DREAMERS

StimulusPledge.org

OUR Fund Oakland

Undocufund-sf.org

Aid Fund for Mission Families

Dolores Street Community Services

Lisa Fernandez is a reporter for KTVU. Email Lisa at lisa.fernandez@foxtv.com or call her at 510-874-0139. Or follow her on Twitter @ljfernandez

The post Immigrants with out work discover themselves sleeping on San Francisco streets appeared first on DAILY SAN FRANCISCO BAY NEWS.