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Stripe to move to South San Francisco

sfchronicle.com

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Re: Stripe to move to South San Francisco

#21

Post by benchtobedside »

dickeytk wrote: post #20
cjlars wrote: post #5

Articles misses that this is in response to SF's gross receipts tax. Payment processing is an ultra low margin business, no way they can compete while paying ~1% of revenues to the city.

What are you talking about? It specifically talks about it and even provides 2 quotes with contradicting points of view: “Alex Tourk, spokesman for sf.citi, a tech business group, said San Francisco needs to consider changes to its business taxes. The city is currently reviewing the tax system, which brings in a total of $1 billion annually. But those taxes could climb higher under the revised system. “Unfortunately,…

Neither of these two quotes in the article provide a compelling counterpoint to the outsized impact that Prop C would have had on Stripe's business.

Re: Stripe to move to South San Francisco

#23

Post by PopeDotNinja »

I can tell you recruiting for South San Francisco was way harder than recruiting for SF. If I lived in SF without a car, that'd be a deal breaker for me. They're going to start losing people, or see a huge spike in chronic working from home. I guess they have to move somewhere at some point, and no move is without trade-offs.

Regarding the gross receipts tax, couldn't they just move their HQ-on-paper to any place that doesn't have a gross receipts tax?

Re: Stripe to move to South San Francisco

#24

Post by dguaraglia »

olingern wrote: post #2

> The company will move more than 1,000 employees just 10 miles south of its current South of Market headquarters, which it plans to vacate. Click bait. They're moving ten miles south of their current office ...

"Ten miles South" in the Bay Area might as well be "30 minutes added commute each way, if you are lucky". And that's if you already have a car, which is not really a thing with most people in San Francisco.

Just to give you an idea, according to Google Maps from where I live (Hayes Valley, a pretty central area) it'd take me right now 11 minutes on a car to get to Stripe's headquarter or 33 on public transit. At the new location it'd take me "between 30 minutes and 1 hour" or 1 hour 9 minutes respectively. The driving estimation is super variable because commuter traffic in that corridor is a nightmare.

So no, this is most definitely not click bait.

Re: Stripe to move to South San Francisco

#25

Post by ergocoder »

PopeDotNinja wrote: post #23

I can tell you recruiting for South San Francisco was way harder than recruiting for SF. If I lived in SF without a car, that'd be a deal breaker for me. They're going to start losing people, or see a huge spike in chronic working from home. I guess they have to move somewhere at some point, and no move is without trade-offs. Regarding the gross receipts tax, couldn't they just move their HQ-on-paper to any place tha…

I'm curious about it. But there must be something illegal about the mismatch between where most employees are located and the hq location.

Re: Stripe to move to South San Francisco

#27

Post by [deleted] »

benchtobedside wrote: post #21
dickeytk wrote: post #20

Earlier quoted context omitted.

What are you talking about? It specifically talks about it and even provides 2 quotes with contradicting points of view: “Alex Tourk, spokesman for sf.citi, a tech business group, said San Francisco needs to consider changes to its business taxes. The city is currently reviewing the tax system, which brings in a total of $1 billion annually. But those taxes could climb higher under the revised system. “Unfortunately,…

Neither of these two quotes in the article provide a compelling counterpoint to the outsized impact that Prop C would have had on Stripe's business.

[deleted]

Re: Stripe to move to South San Francisco

#28

Post by benatkin »

forthwall wrote: post #19

Kilroy Oyster Point is a pretty inaccessible area from San Francisco, you would need to take a limited train via Caltrain that's around 40 minutes to get there. I'm pretty sure this is definitely a blowback from the gross receipts tax and nothing more, even for commuters from the Peninsula would still have to get to the really strange south SF station which is also only accessible via limited express...or commute int…

It's right on the freeway, and there's a ferry. I think it's probably about as good as where the AirBnb and GitHub offices are, which are half a mile from BART. I think a lot of their employees are going to be driving in at times that avoid rush hour.

Re: Stripe to move to South San Francisco

#29

Post by rco8786 »

PopeDotNinja wrote: post #23

I can tell you recruiting for South San Francisco was way harder than recruiting for SF. If I lived in SF without a car, that'd be a deal breaker for me. They're going to start losing people, or see a huge spike in chronic working from home. I guess they have to move somewhere at some point, and no move is without trade-offs. Regarding the gross receipts tax, couldn't they just move their HQ-on-paper to any place tha…

Stripe is already a pretty remote friendly company no?

Re: Stripe to move to South San Francisco

#30

Post by asveikau »

schoen wrote: post #7
masonic wrote: post #4

Earlier quoted context omitted.

Click bait. They're moving ten miles south of their current office . Their new location is not only outside SF but is in a different county . SSF is a distinct city in San Mateo county.

All locations south of the City of San Francisco are in a different county!

Hmm, the airport is technically part of the City and County, while distinctly being south of it.
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