Job Losses Pile Up at Tech & Social Media Companies in San Francisco & Silicon Valley after Reckless Hiring Frenzy by Wolf Richter • Sep 24, 2024 • 123 Comments A reckoning with budding parallels to the Dotcom Bubble & Bust, while other sectors continue to grow. Unemployment rate rose to 3.9%.
Winemaker SPAC with Dozens of Brands, Result of PE-Firm Backed Rollup, Files for Bankruptcy 3 Years after SPAC Merger by Wolf Richter • Jul 25, 2024 • 53 Comments Everyone was happy, sort of, except the public that bought the misbegotten shares and got wiped out?
Non-Tesla EV Sales +45% in Q2 YoY in California, Tesla -24%: People Have Had it with Musk’s Bullshit about California and San Francisco? by Wolf Richter • Jul 19, 2024 • 290 Comments Oh Elon, trying to wreck Tesla? Consumer boycotts work, see Bud Light. Don’t mess with American consumers!
Office CRE Mess Keeps Getting Worse, Massive Repricing Underway by Wolf Richter • Apr 1, 2024 • 95 Comments It’ll take years to get this mess cleaned up, at the expense of investors, landlords, and banks.
Production & Exports of Crude Oil & Petroleum Products Soar to Record in 2023, SPR Gets Refilled (Slowly) by Wolf Richter • Mar 4, 2024 • 65 Comments US oil production boom has dramatically changed global energy dynamics.
U.S. Electricity Generation by Source in 2023: Natural Gas, Coal, Nuclear, Wind, Hydro, Solar, Geothermal, Biomass, Petroleum by Wolf Richter • Feb 27, 2024 • 219 Comments Power generation dips from record: 16 years of stagnation. And the battery arbitrage.
CRE Loans Coming Due in 2024 Balloon by 41%, to $929 Billion, as Loans that Matured in 2023 Weren’t Paid Off but Extended by Wolf Richter • Feb 12, 2024 • 92 Comments Extend and pretend kicks into high gear. For example, the $975 million mortgage on a San Francisco office tower.
Tesla Closes in on Toyota in California: The Battle for #1. Total EV Sales +46% in 2023, EV Share Hits 21% by Wolf Richter • Jan 30, 2024 • 151 Comments Tesla +24.6%, Toyota +2%. Model Y +52%, #1 bestseller by far; Model 3 is #2 bestseller. Toyota loses it, Camry sales -16%, RAV4 +1%.
Status of the Housing Bust in San Francisco (Lowest Price for any December since 2017 & 2019), Silicon Valley & the Bay Area by Wolf Richter • Jan 21, 2024 • 102 Comments In 19 months, prices in San Francisco dropped nearly as much as in the first 19 months of Housing Bust 1. Bay Area is well behind. We’re keeping score.
Office CRE Gets Even Messier: Aftermath of “The War for Space” by Wolf Richter • Jan 14, 2024 • 182 Comments How this mess came about is actually kind of funny, in a costly way.
