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Tag Archives: California Daydreaming

Tesla, the WTF Chart of the Year

You’ve got to admire Musk for snookering true believers into buying $2 billion of new shares a month ago that are now down 52%. By Wolf Richter for WOLF STREET: First a little history. Back in the good old days of February 4, 2020, when Tesla CEO Elon Musk could still be seen walking on water, and when Tesla’s shares hit $960 (and a little later $968.99), I posted a chart, calling it the “WTF chart of the year,” and adding that I’m in Awe of How Tesla is Now a Supernatural Phenomenon:...

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Lockdown in San Francisco, Silicon Valley & the East Bay: We’re to “Shelter in Place.” What it Means Now & Long Term

The eeriness of the whole situation may leave permanent marks on consumers and business-decision makers. By Wolf Richter for WOLF STREET: OK, this is it. The big moment. We the 6.7 million people in six San Francisco Bay Area counties have been ordered to “shelter in place,” with “the only exception being for essential needs,” starting Tuesday just after midnight through April 7, “or until it is extended,” the directive by the San Francisco Office of the Mayor said. The counties are...

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What Sequoia Capital’s “Black Swan” Memo Means for Unicorn-Hotspots Like San Francisco, Silicon Valley & Others

“False optimism can easily lead you astray and prevent you from making contingency plans or taking bold action.” By Wolf Richter for WOLF STREET. Sequoia Capital — one of the most prominent and most experienced venture capital firms that has seen its share of blowups — sent a “Black Swan” memo to the founders and CEOs of the startups it is funding. Back in 2008, as the Financial Crisis was starting to take stuff down, it had put the founders and CEOs of its portfolio companies through...

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Los Angeles Housing Market Carved Up by Unaffordability, Divergence in Demand

Super-luxury in trouble. Condo and high-tier house prices stall since mid-2018. Low tier skyrockets. By Wolf Richter for WOLF STREET. The Los Angeles metro housing market has some of the most expensive properties in the US. They’re listed at aspirational prices, and they sell for a lot less, years after having been first listed. The most expensive home on the market, according to Redfin, is this 20-bedroom 19-bath on 67 Beverly Park Ct in Beverly Hills that took years to build. It...

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California Auto Woes

New-Vehicle Registrations Fall for 3rd Year, -9.5% from 2016. Bay Area Hit Hardest. Q4 Was Ugly, with Tesla Plunging 46%. But Used-Vehicle Market Grows, and Market share of EVs reaches 5.3%. By Wolf Richter for WOLF STREET. It was a tough year for selling new vehicles in California. Total new vehicle registrations in California in 2019 fell 5.5% from a year earlier, to 1.89 million vehicles, the third year in a row of declines, according to registration data released today by the...

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THE WOLF STREET REPORT: Coronavirus Slams Airbnb, Airlines, Hotels, Casinos, San Francisco, Other Hot Spots

It’s not only Chinese tourists, business travelers, and property buyers who’re not showing up, but also travelers from all over the world who’ve gotten second thoughts about sitting on a plane (10 minutes). Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate. I appreciate it immensely. Click on the beer and iced-tea mug to find out how: Would you like to be notified via email when...

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Housing Bubble 2 in San Francisco & Silicon Valley Has Lost its Mojo. Why?

Even as the Fed floods the market with $400 billion in four months, with stocks at record highs, and reality pooh-pooed as irrelevant. What’s different this time? By Wolf Richter. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: The stock market is at all-time highs. The Nasdaq has skyrocketed even more than the S&P 500, and housing in San Francisco and Silicon Valley, historically, has been closely tied to the fortunes of the Nasdaq. When the Nasdaq...

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Housing Blues in the Heart of California’s “Wine Country”

The priciest markets north of the San Francisco Bay. By Wolf Richter for WOLF STREET. California’s “Wine Country” is typically considered to include the counties of Napa, Sonoma, Mendocino, Lake, and Solano. We’ll look at the housing markets of the two most expensive, Napa and Sonoma; and at Marin County, sandwiched between the Golden Gate Bridge and Sonoma County. Marin County is not famous for wine, but for its beauty – including the Muir Woods National Monument, Mount Tamalpais, and...

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THE WOLF STREET REPORT: Housing Bubble 2 in San Francisco & Silicon Valley Lost its Mojo. Why?

Even as the Fed floods the market with $400 billion in four months, with stocks at record highs, and reality pooh-pooed as irrelevant. What’s different this time? Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate. I appreciate it immensely. Click on the beer and iced-tea mug to find out how: Would you like to be notified via email when WOLF STREET publishes a new article? Sign up...

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What Options Do Mall Landlords Have When Brick & Mortar Retail Melts Down on Them?

Even in San Francisco: From a brand-new glitzy zombie mall to innumerable vacant storefronts. By Wolf Richter for WOLF STREET. Mall investors have long denied it. But year after year, ecommerce has been eating up brick-and-mortar retail sales, in the third quarter faster than ever, and in the fourth quarter, according to early indications, even faster. Turns out, ecommerce is a structural change that grew out of the arrival of the Internet, has been underway for two decades, and will...

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