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☆ Cash App founder Bob Lee's accused killer Nima Momeni just pleaded not guilty
  + stars: | 2023-05-18 | by ( Sindhu Sundar | ) www.businessinsider.com   time to read: +3 min
Nima Momeni pleaded not guilty to charges that he murdered Cash App founder Bob Lee, the San Francisco Chronicle reported. San Francisco prosecutors had charged Momeni after his arrest last month in Emeryville, California. Tech consultant Nima Momeni pleaded not guilty on Thursday to San Francisco prosecutors' charge of murder in the killing of Cash App founder Bob Lee last month in downtown San Francisco. Momeni entered the plea at an arraignment in San Francisco state court, according to a report by the San Francisco Chronicle. They alleged at the time that Momeni grilled Lee about Momeni's sister socializing with Lee.
☆ ​​Elon Musk called downtown San Francisco — where Twitter is headquartered — a 'derelict zombie apocalypse' amid its huge homelessness and drug issues
  + stars: | 2023-05-16 | by ( Sawdah Bhaimiya | ) www.businessinsider.com   time to read: +3 min
Elon Musk commented on the drugs and homelessness crisis in San Francisco calling it a "disaster." The billionaire CEO said the "once beautiful and thriving" area has become a "zombie apocalypse." Twitter CEO Elon Musk tweeted his thoughts about downtown San Francisco lamenting the decline of the "once beautiful and thriving" area and called it a "disaster." San Francisco is also a major tech hub with the likes of Google, Twitter, Apple, and Meta headquartered in or near the city. She considered the conditions in San Francisco as bad as in cities like Mumbai and Delhi, which are notorious for having some of the worst poverty crises on earth.
☆ ‘A Daily Game of Russian Roulette’: Homeless in San Diego
  + stars: | 2023-05-13 | by ( Eli Saslow | Erin Schaff | ) www.nytimes.com   time to read: +1 min
Laine Goettsch packed her emergency medical bag and drove into downtown San Diego to look for her favorite patient, afraid of what she might find. Sometimes, she saw Abdul Curry cleaning the sidewalks near his tent and dancing to a playlist of Ed Sheeran songs. Now she drove into a homeless encampment and saw three people huddled near a camping stove and sharing a bottle of vodka. The toll in San Diego County had increased by nearly 10 times in the last decade, from 64 homeless deaths in 2014 to nearly 600 investigated by the medical examiner’s office in the last year. She drove across a bridge and spotted Abdul slumped over at the entrance of a parking garage.
☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
  + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com   time to read: +9 min
Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.
☆ Go check out this map that shows just how many vacant office buildings are in downtown San Francisco
  + stars: | 2023-05-08 | by ( Britney Nguyen | ) www.businessinsider.com   time to read: +2 min
Over 18 million square feet of San Francisco's office space is vacant, the SF Chronicle reported. Thirty-one percent of San Francisco's downtown offices is reportedly open for lease or sublease. The Chronicle's interactive map of the vacancies in downtown San Francisco's office buildings is worth checking out. The rising amount of vacant office real estate partly reflects remote work's impact on office attendance. A telling sign for San Francisco's office building market could come from a 22-story office tower on 350 California Street that is reportedly expected to go for $60 million, after it was valued at $300 million in 2019.
☆ Store closures are hitting Downtown San Francisco as office vacancies and fears of crime are on the rise. Here's the full list of retailers pulling out of the city's downtown neighborhood.
  + stars: | 2023-05-05 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
Nineteen retailers have left San Francisco's Union Square area since 2020. The latest departures include Nordstrom and Office Depot, The San Francisco Standard reported. Stores that have closed in downtown San Francisco over the last few years include:Most retailers haven't referenced crime specifically as their public rationale for closing. Unibail-Rodamco-Westfield, which owns the mall where Nordstrom is located, said that the department store's closure "underscores the deteriorating situation in downtown San Francisco," according to Bloomberg. Do you work in Downtown San Francisco or have a story to share about store closures?
☆ The University of California Santa Cruz is condemning recent antisemitic and anti-LGTBQ actions, including an event to celebrate Hitler’s birthday
  + stars: | 2023-05-05 | by ( Elizabeth Joseph | ) edition.cnn.com   time to read: +3 min
CNN —The University of California, Santa Cruz, is condemning recent antisemitic and anti-LGBTQ incidents reported on and near the campus, including a group of students who allegedly gathered to celebrate Adolf Hitler’s birthday. “They sang happy birthday and ate cakes adorned with hateful and horrific symbols,” UC Santa Cruz Vice Chancellor for Student Affairs and Success Akirah Bradley-Armstrong said in a statement. A second reported incident involved a student who “found an antisemitic and anti-LGBTQIA+ flyer” on their vehicle’s windshield in downtown Santa Cruz on April 21. UC Santa Cruz is encouraging students impacted by “worry, fear, and anger” surrounding the reported incidents to reach out to the school’s Counseling and Psychological Services for support. “White supremacy has no place at UC Santa Cruz.
☆ Nordstrom Is Closing San Francisco Stores as Cities’ Retail Pain Grows
  + stars: | 2023-05-03 | by ( Jim Carlton | Kate King | Suzanne Kapner | ) www.wsj.com   time to read: 1 min
Nordstrom plans to close its Nordstrom Rack store on Market Street and its mall department store at Westfield San Francisco Centre. Photo: Lea Suzuki/San Francisco Chronicle/Associated PressSAN FRANCISCO— Nordstrom is closing two stores near downtown San Francisco, including one in a prominent indoor shopping mall, the latest blow to the city’s retail landscape. The closures also reflect the challenges that merchants face in key business districts in large cities across the country, as they deal with rising operating costs, concerns about crime, and foot traffic remaining well below prepandemic levels.
☆ Cash App creator Bob Lee's autopsy shows he died of 3 stab wounds. His suspected killer's defense is pointing to drugs found in his system.
  + stars: | 2023-05-03 | by ( Sindhu Sundar | Lloyd Lee | ) www.businessinsider.com   time to read: +4 min
Cash App founder Bob Lee died from stab wounds that damaged his heart, a medical report reveals. Lee had himself called 911 after he was attacked in downtown San Francisco last month. The medical report states that the police officers attempted CPR when they found Lee, who had sustained wounds on his "left upper chest." (Gabrielle Lurie/San Francisco Chronicle via AP, Pool) (Gabrielle Lurie/San Francisco Chronicle via AP, Pool)Canny told reporters outside the courtroom that Lee's toxicology report would factor in the case. Representatives for the San Francisco District Attorney's office did not respond to Insider's emailed request for comment on Tuesday.
☆ Nordstrom is the latest retailer to leave San Francisco
  + stars: | 2023-05-03 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
Nordstrom’s exit dealt another blow for San Francisco, as several well-known chains have closed in the city. Incidents of theft in San Francisco have gained national attention, though crime has generally fallen over the past six years. Property crimes in San Francisco have garnered national attention because of several attention-grabbing videos of thieves in action. In total, there were 56 homicides in San Francisco in 2022, which is the same number of homicides the city saw in 2021. For starters, remote work following the pandemic has caused a decrease in foot traffic in major US downtowns, including San Francisco.
☆ Whole Foods workers at shuttered San Francisco store witnessed knife attacks, a deadly fentanyl overdose, customers trying to defecate on the floor, and other chaos, report says
  + stars: | 2023-05-01 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
A San Francisco Whole Foods was the site of crime and hazardous behavior, the New York Times reported. Whole Foods closed the location last month, citing "the safety of our team members." Whole Foods closed the store last month, just over a year after it opened. The store was located on Market Street, one of the busiest roads in downtown San Francisco. Other retail chains in San Francisco and other large cities have closed locations, citing crime or safety.
☆ Here’s what the SVB report will (and won’t) include, according to top former Fed official
  + stars: | 2023-04-27 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +5 min
Randal Quarles, former vice chair of supervision at the Fed, told CNN in an exclusive interview that he doesn’t expect the report to uncover any smoking guns. For instance, SVB was able to opt out of holding capital against its unrealized investment losses. Cole Burston/Bloomberg/Getty ImagesIn Quarles’ view, returning to the pre-2019 requirements “would not have made any difference” in preventing SVB from failing. The real issue that the Fed’s report should address, he said, is why SVB’s uninsured depositors were so quick to flee. That’s why Quarles said he didn’t hear about the red flags Fed officials identified when he was vice chair for supervision.
☆ Google's 80-acre San Jose mega-campus is on hold as company reckons with economic slowdown
  + stars: | 2023-04-21 | by ( Jennifer Elias | ) www.cnbc.com   time to read: +9 min
The city of San Jose may now be paying the price. CNBC has learned that, as part of Google's downsizing that went into effect early this year, the company has gutted its development team for the San Jose campus. By then, the company had already completed much of its multi-year land grab of downtown San Jose for the future campus. Google spent several years planning for the San Jose complex and invested significant resources in winning over the local community. "We all originally knew that it's going to be a long-term plan," San Jose councilmember Omar Torres, who represents the downtown area, told San Jose Spotlight in February.
☆ IKEA plans new U.S. stores in $2.2 bln push to challenge Walmart and Wayfair
  + stars: | 2023-04-20 | by ( Helen Reid | ) www.reuters.com   time to read: +2 min
[1/2] The company's logo is seen outside of an IKEA Group store in Saint-Herblain near Nantes, France, March 22, 2021. Ingka plans to open eight new big IKEA stores and nine smaller stores as well as upgrading existing stores in the U.S., which is IKEA's second-biggest market by sales after Germany, the company said on Thursday. As consumers spend less, big-box retailers Walmart and online furniture retailer Wayfair are cutting jobs and shutting stores, creating an opportunity for IKEA to pick up cheaper store and warehouse space. The planned stores would increase the number of IKEA locations in the U.S. by around a third, from 51 stores and two "plan and order points". Ingka Group had revenues of 5.5 billion euros ($6.03 billion) in the U.S. in its 2022 financial year.
☆ San Jose just authorized plans to build a network of autonomous cars hailed via an app to ferry people from its airport to its railway station
  + stars: | 2023-04-20 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
San Jose began soliciting proposals for a link between its airport and its railway station in 2019. On Tuesday, it authorized a plan from a tech firm call Glydways' which makes autonomous cars hailed via app. Autonomous cars will traverse Silicon Valley from as soon as 2028 after San Jose authorized a plan on Tuesday to connect the city's airport with its central railway station, Bloomberg reported. "In a sprawling city like San Jose, local light rail is a tough proposition." "San Jose has recognized that modernizing our ability to move will provide a multitude of opportunities for everyone- access to better jobs, affordable housing, education, healthcare and more," he added.
☆ What Was Twitter, Anyway?
  + stars: | 2023-04-18 | by ( Willy Staley | ) www.nytimes.com   time to read: +5 min
Dorsey had nurtured the basic idea of Twitter for years — a site that would be like AOL Instant Messenger’s “away message” for anywhere, or “a more ‘live’ LiveJournal,” as he put it in a post on Flickr. But Williams, who created Blogger and sold it to Google for millions, came to see something else in Twitter: To him, its potential lay in its ability to create a running record of what was going on in the outside world. Dorsey was insistent that it was the latter: “You’re talking about your status as you look at the fire.”To Dorsey, the fact that Twitter creates a record of the world would be an incidental byproduct of all this status-sharing. He posted it to Twitter with a brief caption. Dorsey and Williams were correct to identify this as a conflict, even if they could not design or engineer it away.
☆ Cash App founder Bob Lee was stabbed to death after argument about the suspect's sister, court documents show
  + stars: | 2023-04-14 | by ( Daniel Arkin | ) www.cnbc.com   time to read: +3 min
Flowers and cards left as people paying tribute to Bob Lee near the Portside apartment building in San Francisco, California, on April 7, 2023. Cash App founder Bob Lee was fatally stabbed by an IT consultant near downtown San Francisco after the two men got into an argument over the suspect's sister, according to court documents obtained by NBC News on Friday. In the wake of the dispute, Momeni's sister sent a text to Lee, the documents show. The witness saw Momeni asking Lee whether Momeni's sister had been "doing drugs or anything inappropriate" earlier that day. Additional footage obtained by police shows the BMW heading to a "dark and secluded area" near downtown San Francisco.
☆ Police arrest 38-year-old Nima Momeni in fatal stabbing of Cash App creator Bob Lee
  + stars: | 2023-04-13 | by ( Grace Kay | ) www.businessinsider.com   time to read: +2 min
The San Francisco Police Department said it arrested a suspect in the fatal stabbing of Bob Lee. The police took 38-year-old Nima Momeni, an individual they say knew Lee, into custody on Thursday. The San Francisco Police Department said it arrested a suspect in its investigation into the fatal stabbing of Cash App creator Bob Lee on Thursday morning. San Francisco District Attorney Brooke Jenkins said during a press conference that there is evidence that Momeni knew Lee. 38-year-old Momeni was booked around 9 a.m. on Thursday, records from the San Francisco Sheriff's Office show.
☆ What we know about Nima Momeni, the tech consultant charged with murder in the stabbing of Cash App creator Bob Lee
  + stars: | 2023-04-13 | by ( Grace Kay | Azmi Haroun | Katherine Long | ) www.businessinsider.com   time to read: +4 min
San Francisco police arrested Nima Momeni on Thursday and charged him in the murder of Bob Lee. San Francisco police arrested a tech consultant named Nima Momeni on Thursday on a murder charge in the fatal stabbing of Cash App creator Bob Lee. Friends and acquaintances 'can't imagine it'Alex Pourshayegan, who has known Momeni since he was a teenager working in Pourshayegan's window and glass store, told Insider Momeni is a "very likeable kind of guy." Two people who hired Momeni as an IT vendor told Insider that he was competent, professional and unassuming. San Francisco District Attorney Brooke Jenkins said her office is planning to file a motion to detain the suspect without bail.
☆ A man who may have known Cash App creator Bob Lee has been arrested in connection to the fatal stabbing, per reports
  + stars: | 2023-04-13 | by ( Grace Kay | ) www.businessinsider.com   time to read: +3 min
The San Francisco Police Department arrested a man in its investigation into Bob Lee's death, per ABC7 News and Mission Local. The man appears to have known the Cash App creator, both publications reported. Lee was fatally stabbed on April 4 in downtown San Francisco. Matt Dorsey, a member of the San Francisco Board of Supervisors confirmed the report on Twitter. Lee's former wife, Krista Lee, told KTVU Fox 2 that she believes the man who was arrested was an acquaintance of Lee's.
☆ Suspect arrested in stabbing death of Cash App founder Bob Lee -media
  + stars: | 2023-04-13 | by ( ) www.reuters.com   time to read: +2 min
April 13 (Reuters) - San Francisco police arrested a man on Thursday morning in connection with the fatal stabbing of Bob Lee, according to local media reports, just over a week after the tech executive succumbed to his injuries in the hospital. The San Francisco Police Department did not immediately respond to a request for further information. Lee, who founded Block Inc-owned (SQ.N) Cash App, is believed to have known the suspect. The two reportedly were driving in downtown San Francisco in Momeni's car when an alleged confrontation led to Lee's April 4 stabbing. The San Francisco Chronicle also reported news of an arrest, citing San Francisco Board of Supervisors President Aaron Peskin and other city officials, without disclosing a name.
☆ Arrest made in stabbing death of Cash App founder Bob Lee, men reportedly knew each other
  + stars: | 2023-04-13 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +2 min
San Francisco supervisor Aaron Peskin tells CNBC that an arrest has been made in the April 4 fatal stabbing of Cash App founder Bob Lee. Earlier on Thursday, local San Francisco news outlet Mission Local reported that police went to Emeryville, California, with a warrant to arrest a suspect in the case. He is a tech entepreneur in the Bay Area, according to his LinkedIn profile and reports. San Francisco police officers found Lee, 43, with stab wounds at 2:35 AM in a deserted part of downtown San Francisco. — NBC Bay Area contributed reporting to this article.
☆ Whole Foods suddenly closed a San Francisco store just a year after opening it
  + stars: | 2023-04-11 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
Whole Foods is closing its flagship store in San Francisco just over a year after it opened. Retailers like Walgreens have previously cited increased crime for stores closing in the city. The grocery store's last day open was Monday, The San Francisco Standard reported. Other retailers have cited crime as the reason for closing locations in San Francisco. Downtown San Francisco also hasn't been as busy since the start of the pandemic, the Standard reported.
☆ Whole Foods closes San Francisco flagship store after one year, citing crime
  + stars: | 2023-04-11 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —An enormous Whole Foods in downtown San Francisco that opened just last year is temporarily closing. Heralded as a “flagship store” following its March 2022 opening, the Whole Foods was one of the largest supermarkets in downtown San Francisco. A San Francisco Whole Foods store is closing a year after it opened. San Francisco Board of Supervisors member Matt Dorsey said on Twitter that he was “incredibly disappointed” by the closure. Meanwhile, violent crime statistics in San Francisco have remained relatively steady in recent years.
☆ Police scanner audio reportedly reveals what Cash App creator Bob Lee said when he called 911 after fatal stabbing
  + stars: | 2023-04-10 | by ( Grace Kay | ) www.businessinsider.com   time to read: +2 min
Audio from a police scanner gave more insight into Bob Lee's 911 call, NBC reported. A spokesperson for the San Francisco police department did not respond to a request for comment ahead of publication. Lee, the chief product officer of MobileCoin and former CTO of Square, was fatally stabbed on Tuesday morning, NBC first reported. ABC's San Francisco affiliate, KGO-TV previously reported that surveillance footage from the moments after the incident showed Lee walking around the Rincon Hill neighborhood in downtown San Francisco and asking for help before the police arrived at the scene. NBC reported that the police had found a knife near the crime scene.
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