San Diego Tech News Weekly – October 29, 2021

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Neal: Welcome everyone to the weekly San Diego Tech News by Neal Bloom and Jonah Peake from Fresh Brewed Tech. Every Friday at 12:30pm Pacific on Clubhouse and now we record them for you to enjoy as well. Find these episodes on Freshbrewedtech.com and favorite podcast player for Tacos and Tech Podcast

I’m Neal Bloom, entrepreneur, investor, and community builder 

Jonah: Hey I’m Jonah, ops guy building marketplaces spent time at Lime, Handy, and Postmates and I enjoy helping startups throughout San Diego. Let’s dive into our four stories of the week:

For Oct 29, 2021:

1. Neals Quarterly Report
   1. https://freshbrewedtech.com/bloombites-q3-2021-san-diego-venture-report-october-29-2021/
   2. Based on Mike Krenn tweet, we’ve hit $8B already in VC funding, $5.5B+ in 2020
2. ClickUp
   1. https://www.sandiegouniontribune.com/business/story/2021-10-27/sd-fi-clickup-venture-capital
   2. New week, new unicorn news – 
      1. This unicorn got unicorn-er
   3. Moved to San Diego in 2019
   4. $100M at $1B ~a year ago
   5. Now $400M at $4B
   6. Part of the October-corn craziness in San Diego
      1. Vuori, FlockFreight – and Shield AI in September
3. Uber’s San Diego Drivers Can Lease Teslas from Hertz in Boost for Electric Vehicles
   1. Tesla shares soar on the announcement of the deal
   2. Didn’t hertz file for bankruptcy? 
      1. They might have survived as a meme stock
         1. Part of the short squeeze, like GME
   3. UBER is partnering with Hertz to offer 50k Tesla for rideshare
   4. Looks like next year 2023
   5. There are 4 cities for the pilot
      1. SD
      2. LA
      3. SF
      4. DC
   6. Then nation wide from there
   7. Hertz is ordering 100k teslas by end of 2022
   8. That means ½ the fleet is reserved for rideshare
   9. This is a really cool partnership (assuming the economics work for drivers)
   10. Cost
       1. 334/week
          1. Includes maintenance 
       2. Targeting $299 after expansion
   11. Drivers who don’t own cars
   12. A quick story about ride share taking cars off the road
       1. Other advantages
          1. Less drunk driving, etc
          2. Perhaps preserving parking spots 
   13. UBER plans to charge a little extra for a “green” ride share option
   14. Im getting ahead of myself here, but could these eventually be autonomous driving UBER/Teslas?
4. Longfellow Buys Nine Office Assets in San Diego for $315.4M, Plans Conversion to Life Sciences Campus
   1. SD needs more lifescience!
   2. Does it?
   3. Longfellow Real Estate Partners thinks so
      1. Boston based private life sciences real estate firm
   4. They’ve acquired 9 properties 
      1. 371,281 sq ft
   5. This shows that there is further expansion into Sorrento Mesa 
      1. The territory east of the 805
   6. All properties are 2 story
      1. Zoned for
         1. Office
         2. Light industrial
         3. Life sciences
   7. This will be redeveloped into life sciences focused space
   8. We did talk about this before
      1. Is this taking space from other businesses
      2. OR are other businesses converting to WFH a little easier
      3. Lab space is pretty hard to set up in the garage

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Happy Halloweekend!