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Stripe to move to South San Francisco

sfchronicle.com

321–330 of 441 posts

Re: Stripe to move to South San Francisco

#321

Earlier quoted context omitted.

I grew up in the South, and worked in the Bay Area for 9 years, 7 in SF. Summers is SF are most assuredly not brutal. Most of the microclimates in the Bay Area are disgustingly peaceful, but as the parent notes, there is a distinct lack of seasons (there's approximately two: dry summers, wet "winters") and real weather (I greatly missed thunderstorms when I was there).

In the Bay Area, we have two seasons, brown and green.

Four: rain, green, brown, fire.

Re: Stripe to move to South San Francisco

#322
post #315
post #296

Stripe cofounder here. Quick comment to say that we're excited about the move. South San Francisco is a cooperative and open-minded city. In being an infrastructure company, we have to take a long-term view, and we think this can be a good for many years. And while the Bay is tricky from a commuting standpoint no matter what the location, the the presence of a marina right beside this site opens up a lot of interesti…

South City is also one of the worst cities in the Bay Area in building offices and rejecting homes. The long-term view is that we need more homes near jobs. What are you doing to get South City to build more homes?

IIRC, he/they have funded political efforts in that direction.

Re: Stripe to move to South San Francisco

#323
post #281

Earlier quoted context omitted.

Moving offices is really disruptive to people's lives, and causes a huge amount of turnover in your workforce. A brief excerpt from Peopleware[1]: "The typical person being moved today is part of a two-career family. The other half of that equation is probably not being moved, so the corporate move comes down hard on the couple’s relationship at a very delicate point. It brings intolerable stress to bear on the accom…

Isn't South San Francisco just 10 miles from San Francisco? For some cities this would equate to moving to another part of the same city.

South SF is far less accessible than Stripe's current location in Townsend St (Soma, SF).

I'm curious to see how many people leave because of this move. Tech workers in SF tend to live in Soma or the surrounding neighborhoods (FiDi, Mission, Dogpatch), which means for a worker without a car, their commute was previously a short bike, Muni, or Uber Pool, whereas to get to SSF they'll be looking at this (to get to a BART station), a BART ride, and probably a shuttle at the far end, because Oyster Point isn't near transit.

I worked for a company that moved its HQ (due to an acquisition) to Brisbane -- slightly closer than South SF -- and ended up buying a car to commute, because the walk + BART + shuttle combination took so long.

Re: Stripe to move to South San Francisco

#324
post #260

Earlier quoted context omitted.

> This is just....staggeringly stupid. It just penalizes low margin businesses, for no reason. How can anyone possibly think this is a good idea? You might want to ask sf.citi, the SF tech industry lobbying group who came up with it in 2012. Here's a video of Jack Dorsey campaigning for the gross receipts tax as CEO of Square. [1] The argument then, of course, was that we shouldn't tax early stage pre-revenue tech co…

I mean, taxing payroll is just as stupid. You tax net income, because it's normalized across businesses. Taxing payroll or revenue is just economic nonsense.

Net income isn't normalized across businesses.

Most businesses aim for net income. Most startups don't even try, even if they've raised hundreds of millions of dollars and occupy fancy offices. (It's also very easy for IP-based businesses to shift where income is generated.)

And that's the basic reasoning behind SF's gross proceeds tax. It's a uniquely SV tax that only works because so many unicorns built their house of cards out of claiming revenue for things no other business would claim as revenue.

Re: Stripe to move to South San Francisco

#325
post #296

Stripe cofounder here. Quick comment to say that we're excited about the move. South San Francisco is a cooperative and open-minded city. In being an infrastructure company, we have to take a long-term view, and we think this can be a good for many years. And while the Bay is tricky from a commuting standpoint no matter what the location, the the presence of a marina right beside this site opens up a lot of interesti…

> And while the Bay is tricky from a commuting standpoint no matter what the location,

As someone who lives in the area, I like the fact that both BART & Caltrain cross-over right around the airport (I commute to Palo Alto and SF downtown). The addition of a Milbrae to South SF shuttle would cover both options with a single pickup (& even the folks who drive there to take BART to SF).

The Oyster pt marina is connected out of only Alameda & Oakland, but that does beat trying to get to either bridges in general particularly the 8:10 AM ferry out of Oakland / 5:10 out of Oyster pt.

And it is not just 101 northbound for this, taking 280 through 380 isn't too bad either - the traffic jam pretty much starts northbound at Sneath lane.

I'd say that this puts Stripe in a better location for commutes, though far away from all the other offices.

Re: Stripe to move to South San Francisco

#326

Earlier quoted context omitted.

Considering the city already spends around $30k per year per homeless person it's pretty obvious money is not the solution.

That number is a myth. An intentional butchering of the homeless stats and spending numbers for political purposes. https://www.sfchronicle.com/bayarea/article/Myths-like-homel... The number is more like $3800 per person per year: https://www.sfchronicle.com/bayarea/heatherknight/article/Bu...

> That number is a myth

The article [1] posits reasonable hypotheses for why the number might be lower, but doesn’t attempt to calculate it, ending with “math...always making things confusing.”

San Francisco spends a lot on its homeless problem. (Using the article’s numbers, stripping out eviction prevention, about $200 million a year.) It has little to show for it.

[1] https://www.sfchronicle.com/bayarea/article/Myths-like-homel...

Re: Stripe to move to South San Francisco

#327
post #296

Stripe cofounder here. Quick comment to say that we're excited about the move. South San Francisco is a cooperative and open-minded city. In being an infrastructure company, we have to take a long-term view, and we think this can be a good for many years. And while the Bay is tricky from a commuting standpoint no matter what the location, the the presence of a marina right beside this site opens up a lot of interesti…

curious in what way the city is 'cooperative'

Re: Stripe to move to South San Francisco

#328
post #37

Earlier quoted context omitted.

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.

Unless things changed over the summer, Square is not profitable, so this is just an additional major expense that makes profitability harder to achieve.

Re: Stripe to move to South San Francisco

#329
post #296

Stripe cofounder here. Quick comment to say that we're excited about the move. South San Francisco is a cooperative and open-minded city. In being an infrastructure company, we have to take a long-term view, and we think this can be a good for many years. And while the Bay is tricky from a commuting standpoint no matter what the location, the the presence of a marina right beside this site opens up a lot of interesti…

> interesting new transportation options for us throughout the Bay. This sentence made me think - I wonder how expensive it would be for a startup to run a private boat commuting service. Google has their buses, but obviously they have near-limitless resources.

Google and Facebook have both contracted ferries (water taxis, technically) in the past.

Re: Stripe to move to South San Francisco

#330
post #296

Stripe cofounder here. Quick comment to say that we're excited about the move. South San Francisco is a cooperative and open-minded city. In being an infrastructure company, we have to take a long-term view, and we think this can be a good for many years. And while the Bay is tricky from a commuting standpoint no matter what the location, the the presence of a marina right beside this site opens up a lot of interesti…

curious in what way the city is 'cooperative'

In the way of not having a payroll tax.
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