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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

#31

Post by x0x0 »

chipotle_coyote wrote: post #17
kevincrane wrote: post #6

Earlier quoted context omitted.

I mean, it eliminates the entire East Bay from its pool of possible employees, so that sucks for anyone who lives out there. That’s a pretty big deal for their quality of life.

I'd agree with it being bad for the quality of life, but eliminates is a bit of an exaggeration. It makes it more difficult, to be sure, but there's a BART station in South San Francisco and a free shuttle that runs between there and Oyster Point. For anyone coming up from the Peninsula or the South Bay, though, this might be a commuting improvement. Of course, the big difference is that Stripe's current office is at…

Do you ride Bart?

You're going from a local commute to bart -> walking to the office, to a local commute to bart -> going to a station that is skipped by 3/4 of bart lines (ie requires an xfer for Antioch, Pleasanton, or Fremont) -> a shitty bus. NB: Bart is ass and generally is too incompetent to align train and bus schedules.

This adds probably at least 45 minutes each way for anyone coming from SF or East Bay locations and using public transit. It's an enormous downgrade.

Re: Stripe to move to South San Francisco

#32

Post by jdavis703 »

kevincrane wrote: post #6
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 ...

I mean, it eliminates the entire East Bay from its pool of possible employees, so that sucks for anyone who lives out there. That’s a pretty big deal for their quality of life.

I commute by public transit from Oakland to Mountain View every day, so claiming elimination is a bit extreme.

Re: Stripe to move to South San Francisco

#33

Post by creato »

ergocoder wrote: post #25
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.

> But there must be something illegal about the mismatch between where most employees are located and the hq location.

How would that be illegal? Employers can't tell employees where to live, and a law that told them to do that is insane, even compared to other crazy laws of the Bay Area.

Re: Stripe to move to South San Francisco

#34

Post by gyc »

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,…

I doubt the wages are going to be appreciably different in South San Francisco. Office rents is probably one reason, but the gross receipts tax is almost certainly the biggest reason for the move.

Re: Stripe to move to South San Francisco

#35

Post by paxys »

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'd say that's an exaggeration. I know tons of people who commute from the city to south bay and vice versa. Plus South SF is pretty well connected by transit.

Re: Stripe to move to South San Francisco

#36

Post by brunoTbear »

rco8786 wrote: post #29
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?

Yes, to a very large extent

Re: Stripe to move to South San Francisco

#37

Post by x0x0 »

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.

Yeah. Salesforce probably has north of 50% margins. Eating 1% is annoying but livable. A Square or Stripe type business probably has under 5% margins, making this a tax of 10 to 20 percent of profit.

Re: Stripe to move to South San Francisco

#39

Post by jdavis703 »

x0x0 wrote: post #31
chipotle_coyote wrote: post #17

Earlier quoted context omitted.

I'd agree with it being bad for the quality of life, but eliminates is a bit of an exaggeration. It makes it more difficult, to be sure, but there's a BART station in South San Francisco and a free shuttle that runs between there and Oyster Point. For anyone coming up from the Peninsula or the South Bay, though, this might be a commuting improvement. Of course, the big difference is that Stripe's current office is at…

Do you ride Bart? You're going from a local commute to bart -> walking to the office, to a local commute to bart -> going to a station that is skipped by 3/4 of bart lines (ie requires an xfer for Antioch, Pleasanton, or Fremont) -> a shitty bus. NB: Bart is ass and generally is too incompetent to align train and bus schedules. This adds probably at least 45 minutes each way for anyone coming from SF or East Bay loca…

Before claiming incompetence consider there are at least 23 different transit agencies in the Bay Area BART has to coordinate with. Yes, we need a system that integrates seamlessly (I personally feel it, I ride BART from Oakland to Caltrain in Mountain View 10-12 times a week). But blaming BART alone for this problem misses the root cause: fragmented transit operators. We need a lead or unified agency like the MTA in NYC or WMATA in DC.

Re: Stripe to move to South San Francisco

#40

Post by gyc »

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…

I assume they'll also run commuter shuttles like Genetech.
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