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San Francisco CRE to Collapse

Updated: May 19, 2020

So says Jason Calacanis, “San Francisco is going to get demolished.”

Jason Calacanis has invested in a portfolio of 250 (private) companies, give or take, including #Uber and #Robinhood, and he got the first #Tesla Model S ever made. #SanFrancisco #commercialrealestate #CRE is “going to collapse,” he says in an interview on #CNBC.

He says we’ve had an eight-week crash course in working remotely. Companies have learned they can hire the best people from anywhere, let them all work from home, manage them remotely, and save the premium you’d otherwise have to pay them for living and working in San Francisco and #SiliconValley. Companies are going to get more efficient.

“Why am I here? Why am I paying these prices? Why am I dealing with dysfunctional government on a local level and state level..? People want out of this town.

This is going to happen all across the country. The world has changed. Tech companies and those whose models include a workforce that can work remotely will gravitate away from expensive city centers towards more hospitable and comfortable locales.

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