The city’s economy was hit particularly hard by the pandemic and three years later, it is still dealing with the fallout after a string of high-profile retailers recently pulled out of the city’s o…
When MosaicML, a generative AI platform company, decided to upgrade its office space, its CEO and co-founder, Naveen Rao, was set on San Francisco, even though he lives in Southern California.
“Everyone is talking about doom and gloom, this and that, but it’s still literally the best place in the world to build a company. There’s nothing like it,” Rao said of San Francisco.and three years later, it is still dealing with the fallout after a string of high-profile retailers recently pulled out of the city’s once-vibrant downtown. But despite its economic troubles, San Francisco has quietly benefited from the recent generative AI boom.
In May, MosaicML signed a lease on an 8,000-square-foot office in San Francisco that was “newer and nicer” than the company’s first office, according to Rao. Quinn said his firm knows of 10 AI companies currently on the hunt for office space in San Francisco. “San Francisco has just been a series of gold rushes,” Quinn noted. “We’ve known ourselves to be an up and down type of economy historically, and that really manifested over the pandemic, and now we’re just starting to see that recovery.”The city’s tech-heavy workforce embraced remote work with open arms in 2020, resulting in many white-collar workers trickling out of the city in search of more affordable living.
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