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San Francisco: Some say rumors of “doom loop” are exaggerated

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Good morning. It’s Thursday, Jan. 18. Right here’s what it is advisable know to start out your day.

Is San Francisco actually doomed? Relies upon who you ask

Let’s begin with what most individuals agree on: the pandemic hit cities exhausting — and San Francisco particularly exhausting.

Many employees within the metropolis’s bustling tech sector traded their downtown workplace for a desk at a house with decrease lease and extra space out of city — or out of state. The exodus set off a series response that impacted the espresso outlets, eating places and different companies that relied on foot site visitors downtown.

Then got here the headlines a couple of metropolis in a doom loop. And the conservative proper’s narrative of a failed metropolis rampant with homelessness, open drug use and crime that solely had its personal liberal insurance policies in charge.

However the metropolis nonetheless has its defenders. They scent a comeback, claiming that “biking via booms and busts is only a pure a part of San Francisco’s rhythms,” Occasions Bay Space and North Coast reporter Hannah Wiley wrote this week.

The following growth they’re eyeing: synthetic intelligence.

“A number of tech leaders interviewed — some have spent many years in Silicon Valley, others are newcomers to the area — argue San Francisco and the Bay Space extra broadly stay a thriving nerve middle of expertise, institutional information and bountiful enterprise capital,” Wiley reported.

It’s not simply optimistic tech people. Wiley pointed to some latest knowledge that problem the downward spiral narrative.

First, extra persons are transferring into San Francisco and neighboring counties within the Bay Space than transferring out. That’s notable, because the state of California general misplaced extra residents than it gained lately. The price of housing has additionally fallen.

And it’s at all times smart to comply with the cash, as Wiley did.

“The Bay Space final 12 months maintained its high nationwide rating for enterprise capital funding, adopted by Boston and New York, in line with an October report by Ernst and Younger, buoyed partially by investments in synthetic intelligence,” she famous.

There could also be some optimistic indicators for tech, however the pandemic restoration hasn’t been nice for everybody. One group of residents town continues to lose: folks 25 and older and not using a school diploma.

Some folks Wiley spoke with had been extra cautious concerning the metropolis’s fortunes, pointing to notable workplace emptiness charges and decrease in-person employee attendance.

“Downtown earlier than the pandemic was a reasonably wealthy ecosystem. However on the core of it was folks coming to work in places of work,” Ted Egan, San Francisco’s chief economist, advised her. “Till you get that again, it’s going to be exhausting to restart a optimistic dynamic flywheel downtown.”

Nonetheless, there’s a way from some that town is slowly however certainly transferring into a brand new period.

Right here’s one vivid spot (or possibly mushy spot?) that stood out to me: the revitalization of United Nations Plaza right into a vacation spot for skate boarders. If you wish to deliver recent vitality into an city core, it seems skateboarding would possibly simply do the trick.

You possibly can learn extra from Wiley on San Francisco optimism.

Right now’s high tales

New construction in Beverly Hills, CA.

There’s a potential moratorium on constructing permits in Beverly Hills, a consequence of a decide ruling town doesn’t have a state-approved blueprint for inexpensive housing.

(Gary Coronado / Los Angeles Occasions)

Courts and crime

Local weather and surroundings

California politics

Extra huge tales

Get limitless entry to the Los Angeles Occasions. Subscribe right here.

Right now’s nice reads

A two-year-old spider monkey wears jeans, crop tops, and Armani perfume

(Francine Orr/Los Angeles Occasions)

Lions, tigers and a monkey in a bullet-proof vest: Meet the unique pets of Mexico. In Sinaloa, Mexico, dwelling to one of many world’s strongest drug cartels and famed for ostentatious shows of wealth, folks clamor for unique animals.

Different nice reads

How can we make this text extra helpful? Ship feedback to [email protected].

In your downtime

An aerial view of a lake at Murrieta Hot Springs Resort.

Geothermal water flows right into a lake at Murrieta Scorching Springs Resort. The location is a geothermal spa that goes again greater than a century. For almost 30 years, the property was a Bible school and Christian retreat middle. The location was offered in 2022 and the brand new house owners have been refinishing the property to open to the general public.

(Myung J. Chun / Los Angeles Occasions)

Going out

Staying in

And eventually … from our archives

The Los Angeles Times dedicated the front page to coverage of a 6.7 magnitude quake centered in Northridge

On Jan. 18, 1994, the Los Angeles Occasions devoted the entrance web page to protection of a 6.7 magnitude quake centered in Northridge that finally resulted in additional than 9,000 accidents, 60 fatalities and as much as $20 billion in property injury, plus $40 billion in financial losses.

(Los Angeles Occasions)

Right here’s the entrance web page of The Occasions, 30 years in the past immediately. After the 6.7 magnitude Northridge quake killed 60 folks and broken massive swaths of the county, radio broadcasts and newspapers had been one of many few sources of data residents had. The Occasions revealed the day after the earthquake and continued to publish as Los Angeles started to recuperate. This week, Occasions information and tradition critic Lorraine Ali wrote about surviving Northridge, noting “the sound of the paper being tossed onto driveways offered a semblance of normalcy within the chaos.”

Have an ideal day, from the Important California crew

Ryan Fonseca, reporter
Elvia Limón, multiplatform editor
Kevinisha Walker, multiplatform editor
Laura Blasey, assistant editor

Verify our high tales, matters and the newest articles on latimes.com.

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