Daly City just doesn’t get any love.
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Still in the Bay so that’s a relief. It’s better for all of us to have more offices and jobs spread throughout the bay.
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Daly City doesn’t have much commercial space. Someone still needs to take over that Kome spot.
Expect higher turnover at Stripe as it gets closer to the move date for those who depend on public transit.
“Depend on public transit” is more of a virtue signaling and lack of parking in SF than absolute necessity. Is anyone going to quit the hottest startup in the world just because they can’t rub shoulders with hobo on muni on their way to work? Srsly?
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Oh you’ll be surprised. Sky high private valuation isn’t always positive.
Surprisingly the highest valued private company is Juul.
I started to interview there earlier this year for the Seattle office. It was the second most disorganized process I experienced. I asked them if they were moving forward with all roles, since they had the leader/VP role open. Usually you start hiring at the top and that person hires out the team. They assured me they couldn’t wait and were hiring for all the roles the team at the same time. They had to hire ASAP. Then they said they were close to a hire in the leader/VP role and would wait for that person to join before making a final decisions for the rest of the roles. It’s 7 months later and all the roles are still posted on linked in.
They also require a case study as part of the process. It was embarrassingly simple.
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Overall, I’m a fan. I worry there will be more and more competitors which will create price wars that kill margins.
What are they doing to do defend and/or grow their moat?
That’s the huge question. I’m not sure and Fintech is drawing a ton of investment money.
What about the possibility of big guys like AAPL, FB or AMZN acquiring it?
I don’t see it, but it’s hard to completely anything out. Big acquisitions aren’t Apple’s style. Amazon has its own payments technology. It would have made sense for PayPal or Square to acquire before Stripe got such a high valuation. I think it’s more likely Stripe acquires a physical payment terminal company to enter that space. There are some smaller ones with android tablet based products.
Stripe CEO:
Are these CEO’s unaware of the permitting issues? It’s not a matter of people not wanting to build more housing. It’s a matter of getting permits to actually do it. Without permits, it doesn’t matter how much money companies and non-profits have to build housing.