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2021-02-22

Finally!!!

Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.

2021-02-22

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2021-02-22

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Who Rules the Cloud? The Answer Is Hazy.

2021-02-22

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Silicon Valley is not suffering a tech exodus, and money is flowing in at record rate — for a fortunate few

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17:45","market":"us","language":"en","title":"Silicon Valley is not suffering a tech exodus, and money is flowing in at record rate — for a fortunate few","url":"https://stock-news.laohu8.com/highlight/detail?id=1106666176","media":"MarketWatch","summary":"New data show little proof that people are leaving the Bay Area in droves, instead detailing record ","content":"<p>New data show little proof that people are leaving the Bay Area in droves, instead detailing record investment in startups and booming market caps for Big Tech while the region’s poor residents suffer brunt of COVID-19 pandemic</p>\n<p>Despite reports of an exodus, Silicon Valley remains the tech capital of the world, with new data showing continued record investment in the industry in 2020 and no overall declines in jobs and population in the region.</p>\n<p>While the high-profile departures of&nbsp;rich executives and investors like Elon Musk&nbsp;and&nbsp;companies like Oracle Corp.&nbsp;and&nbsp;Hewlett Packard Enterprise Corp.&nbsp;have raised questions about the future of California’s tech powerhouse, an annual report out this week found little evidence of a trend. Instead, the major effect of the COVID-19 pandemic on the San Francisco Bay Area in 2020 was the widening of the divide between the haves and have-nots, thanks to all the money still flowing into just a few pockets as the coronavirus ravages poorer communities.</p>\n<p>“Today, we must frankly admit that the pandemic has made the rich richer while the poor are dying,” said Russell Hancock, chief executive of Joint Venture Silicon Valley, which published its annual Silicon Valley Index this week detailing what happened in the region last year.</p>\n<p>The report showed record venture capital investment in Bay Area startups, along with booming market capitalizations for public tech companies and standard-setting initial public offerings. Amid fears of a tech-worker stampede out of the Golden State as companies allowed remote work, the population in Silicon Valley — defined as Santa Clara and San Mateo counties — was mostly flat for the year, rising 0.02%.</p>\n<p>While an overall out-migration was tracked in San Francisco, the vast majority of those who left the most prominent city in the region last year&nbsp;remained in the state, according to U.S. Postal Service data crunched by the San Francisco Chronicle this week. That’s in line with what the Silicon Valley Index shows: 59% of the people who have left the valley in the past few years have stayed in California, moving up or down the state.</p>\n<p>“I think we can all calm down,” said Rachel Massaro, Joint Venture’s director of research, during a news briefing about the index. “We’re a place of innovation. We’re a place that houses these impactful companies. We have not seen any significant losses among them.”</p>\n<p>In short, the region’s biggest companies and highest-paid people fared drastically better and in many cases thrived — white-collar workers, who earn more than three times as those in service occupations, got to work remotely and protect themselves from a deadly virus — while low-wage workers lost jobs and fell ill, their lack of a safety net shining a harsher light on inequality.</p>\n<p>“It’s a tale of two economies,” Hancock said. “There are two stories.”</p>\n<p><img src=\"https://static.tigerbbs.com/4e74e27c802a7abc5e4f17381a9dc9f7\" tg-width=\"620\" tg-height=\"343\" referrerpolicy=\"no-referrer\"><b>The tech story</b></p>\n<p>Silicon Valley and San Francisco companies’ market capitalization climbed 37% to $10.5 trillion last year, according to the report, thanks to huge spikes from companies such as Tesla Inc.TSLA,-0.77%,which saw its market cap skyrocket more than 700% in 2020; Apple Inc.AAPL,+0.12%,which saw a 77% increase, while Facebook Inc.FB,-2.91%grew 30% and GoogleGOOGL,-0.81%experienced a 28% boost.</p>\n<p>Big Tech kept getting bigger in other ways as well. The top 15 tech employers in the area — which includes the above plus other large companies like Intel Corp.INTC,+2.27%,Salesforce Inc.CRM,-0.18%and Cisco Systems Inc.CSCO,-1.42%— ended the year with a 3.7% increase in jobs even while the region saw a couple hundred thousand jobs disappear overall. And despite nagging questions about the effects of a work-from-home shift on commercial real estate, the largest companies in the region continued construction on existing projects, such as Google’s planned massive development in San Jose, Calif.</p>\n<p>The next generation also received record investment totals. Snowflake Inc.SNOW,+0.08%,DoorDash Inc.and Airbnb Inc.,all based in the Bay Area, were the three biggest U.S. initial public offerings of 2020, not including special-purpose acquisition companies. And even in a booming year for IPOs, Silicon Valley outperformed the rest: 2020 IPOs from the valley grew 117% and S.F. issuances grew 101%, while IPOs in general returned 80% last year, according to the Silicon Valley Index.</p>\n<p>It was also a record year for venture capital, with funding to Silicon Valley and San Francisco companies increasing 8% from 2019, the report said. Of the $123.6 billion in U.S. VC funding in 2020, $26.4 billion went to Silicon Valley, $20 billion to San Francisco and $67 billion to California. A lot of that investment went into well-known startups including Bay Area decacorns (private companies worth at least $10 billion) like Stripe, Instacart and Robinhood.</p>\n<p><img src=\"https://static.tigerbbs.com/aecd2f4f6588dc206cb09b59ebe10136\" tg-width=\"620\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p><b>The other, less positive story</b></p>\n<p>While Big Tech flourished and money continued to pour into potential additions to that group, the gap between those flourishing from that performance and Silicon Valley’s poorer residents is wider than ever, the index shows.</p>\n<p>As of last Friday, 2,069 people in the region had died of COVID-19, Hancock said. Death rates were highest among Native Hawaiians/Pacific Islanders, Black/African Americans and Hispanic or Latinos, respectively. A report by the&nbsp;Mercury News&nbsp;showed that death rates were far higher in poorer neighborhoods than wealthier ones, such as in the largely Latino neighborhoods of East San Jose.</p>\n<p>Lower-wage workers lost their jobs or had to put their health at risk to hang onto their positions.</p>\n<p>“The pandemic wiped out our service sector and in-person economy,” Hancock said. “There’s real carnage out there. People have lost their livelihoods.”</p>\n<p>The region’s community infrastructure and service jobs declined 54% by midyear 2020. Hispanic people were 1.5 times more likely to file unemployment claims as white people, Hancock said. And in December, more than 626,000 households in the Bay Area, including nearly 200,000 households in Silicon Valley, were at risk of eviction or mortgage nonpayment, according to the index.</p>\n<p>Shuttle drivers who drove tech employees to various offices around the Bay Area for companies such as Salesforce Inc.,Twitter Inc.&nbsp;and others — which have told their employees they can work remotely permanently or most of the time — have been laid off or furloughed, said Stacy Murphy, business representative for Teamsters Local 853, which represents about 800 shuttle drivers in the Bay Area. Some drivers are still on paid furlough, but others are no longer receiving wages and most have no idea when they can return to work.</p>\n<p>“We are all patiently waiting,” said Murphy, who has said the union is in constant discussions and is advocating for the drivers to keep getting paid.</p>\n<p><b>The murky future</b></p>\n<p>Some data from the index shows that concerns about a threat to the region’s reign as a tech center are not unfounded. Although Silicon Valley’s population did not decline in 2020, a yearslong out-migration trend did continue. Still, the index shows that the net out-migration in 2020 was about half that of the departures from the region in 2001, after the dot-com bubble burst.</p>\n<p>The index also shows that the employment growth rate of the top 15 largest tech employers in Denver (14.7%) and Sacramento (14.5%) were nearly four times that of the Bay Area’s 3.7%. And the Bay Area’s share of those same companies’ U.S. workforces fell from 26.1% in January 2020 to 23.9% in December. While the percentage gains were smaller, the Bay Area still added more tech jobs in total than the other metropolitan areas.</p>\n<p>Metro areas in Florida, Texas and elsewhere are touting themselves as the next big tech hubs as companies and executives move to places like Texas, where Oracle and Hewlett Packard Enterprise Co.&nbsp;have moved their headquarters — even as many Oracle employees remain in the Bay Area, Hancock pointed out.</p>\n<p>As other companies move or make decisions about whether their employees should return to the office, it will affect the construction projects that have been put on hold or the office-space rental rates that have mostly held steady.</p>\n<p>The Bay Area Council, which includes the region’s companies as members and advocates for business-friendly policies, has launched a “business climate” initiative as it worries about companies leaving the region.</p>\n<p>“It’s not going to be an immediate change,” said Patrick Kallerman, research director for the Bay Area Council Economic Institute. “The Bay Area isn’t going to be a ghost town in six months. We’re asking ourselves if this is going to be a long-term, significant change.”</p>\n<p>Those changes will affect the quality of life in the Bay Area as municipalities find themselves with budget shortfalls. Silicon Valley city revenues are expected to decline by an average of 5% mostly due to the pandemic’s effects, according to the SV Index. San Francisco saw sales tax revenue decline 43% in the second quarter of 2020 compared with the prior year, according to the&nbsp;San Francisco Chronicle, which looked at the effects of the pandemic on the city’s once-bustling&nbsp;downtown.</p>\n<p>What happens to the big businesses — whether they leave, stay, change their work-from-home policies — will affect the small ones, too.</p>\n<p>Alicia Villanueva, who owns Alicia’s Tamales Los Mayas, a tamale factory in Hayward, Calif., and Lynna Martinez, owner of Cuban Kitchen, a restaurant in San Mateo, Calif., both said that despite devastating drops in their revenue, they avoided laying off any employees because of the Paycheck Protection Program (PPP) and other loans.</p>\n<p>Both businesses relied heavily on catering to tech and other companies in the Bay Area.</p>\n<p>“We had hundreds of clients, including Oracle, Facebook, Google and Comcast,” Martinez said. “We would do anywhere between 100 to 300 orders before we opened our doors at 11 a.m. Then in March and April, boom, 50% of our business was gone.”</p>\n<p>The two women said they have had to adjust and make up the lost business however they can. Martinez said her catering business is probably a tenth of what it once was. Villanueva’s son is delivering tamales to a school district that’s more than 60 miles away.</p>\n<p>“He’s waking up at 2 a.m. to get ready and deliver to Vacaville at 5 a.m.,” said Villanueva, who has 21 employees.</p>\n<p>Martinez and her eight employees are relying more on referrals, and she’s now considering franchising.</p>\n<p>“The pandemic forced us to target a wider, more dispersed base,” she said. “In some ways, this was a good challenge for me as a business owner who wanted to pursue the idea of having a franchise.”</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silicon Valley is not suffering a tech exodus, and money is flowing in at record rate — for a fortunate few</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilicon Valley is not suffering a tech exodus, and money is flowing in at record rate — for a fortunate few\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 17:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/silicon-valley-is-not-suffering-a-tech-exodus-and-money-is-flowing-in-at-record-rate-for-a-fortunate-few-11613760421?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New data show little proof that people are leaving the Bay Area in droves, instead detailing record investment in startups and booming market caps for Big Tech while the region’s poor residents suffer...</p>\n\n<a href=\"https://www.marketwatch.com/story/silicon-valley-is-not-suffering-a-tech-exodus-and-money-is-flowing-in-at-record-rate-for-a-fortunate-few-11613760421?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","TWTR":"Twitter","TSLA":"特斯拉","AAPL":"苹果",".SPX":"S&P 500 Index","ABNB":"爱彼迎","DASH":"DoorDash, Inc.",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/silicon-valley-is-not-suffering-a-tech-exodus-and-money-is-flowing-in-at-record-rate-for-a-fortunate-few-11613760421?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1106666176","content_text":"New data show little proof that people are leaving the Bay Area in droves, instead detailing record investment in startups and booming market caps for Big Tech while the region’s poor residents suffer brunt of COVID-19 pandemic\nDespite reports of an exodus, Silicon Valley remains the tech capital of the world, with new data showing continued record investment in the industry in 2020 and no overall declines in jobs and population in the region.\nWhile the high-profile departures of rich executives and investors like Elon Musk and companies like Oracle Corp. and Hewlett Packard Enterprise Corp. have raised questions about the future of California’s tech powerhouse, an annual report out this week found little evidence of a trend. Instead, the major effect of the COVID-19 pandemic on the San Francisco Bay Area in 2020 was the widening of the divide between the haves and have-nots, thanks to all the money still flowing into just a few pockets as the coronavirus ravages poorer communities.\n“Today, we must frankly admit that the pandemic has made the rich richer while the poor are dying,” said Russell Hancock, chief executive of Joint Venture Silicon Valley, which published its annual Silicon Valley Index this week detailing what happened in the region last year.\nThe report showed record venture capital investment in Bay Area startups, along with booming market capitalizations for public tech companies and standard-setting initial public offerings. Amid fears of a tech-worker stampede out of the Golden State as companies allowed remote work, the population in Silicon Valley — defined as Santa Clara and San Mateo counties — was mostly flat for the year, rising 0.02%.\nWhile an overall out-migration was tracked in San Francisco, the vast majority of those who left the most prominent city in the region last year remained in the state, according to U.S. Postal Service data crunched by the San Francisco Chronicle this week. That’s in line with what the Silicon Valley Index shows: 59% of the people who have left the valley in the past few years have stayed in California, moving up or down the state.\n“I think we can all calm down,” said Rachel Massaro, Joint Venture’s director of research, during a news briefing about the index. “We’re a place of innovation. We’re a place that houses these impactful companies. We have not seen any significant losses among them.”\nIn short, the region’s biggest companies and highest-paid people fared drastically better and in many cases thrived — white-collar workers, who earn more than three times as those in service occupations, got to work remotely and protect themselves from a deadly virus — while low-wage workers lost jobs and fell ill, their lack of a safety net shining a harsher light on inequality.\n“It’s a tale of two economies,” Hancock said. “There are two stories.”\nThe tech story\nSilicon Valley and San Francisco companies’ market capitalization climbed 37% to $10.5 trillion last year, according to the report, thanks to huge spikes from companies such as Tesla Inc.TSLA,-0.77%,which saw its market cap skyrocket more than 700% in 2020; Apple Inc.AAPL,+0.12%,which saw a 77% increase, while Facebook Inc.FB,-2.91%grew 30% and GoogleGOOGL,-0.81%experienced a 28% boost.\nBig Tech kept getting bigger in other ways as well. The top 15 tech employers in the area — which includes the above plus other large companies like Intel Corp.INTC,+2.27%,Salesforce Inc.CRM,-0.18%and Cisco Systems Inc.CSCO,-1.42%— ended the year with a 3.7% increase in jobs even while the region saw a couple hundred thousand jobs disappear overall. And despite nagging questions about the effects of a work-from-home shift on commercial real estate, the largest companies in the region continued construction on existing projects, such as Google’s planned massive development in San Jose, Calif.\nThe next generation also received record investment totals. Snowflake Inc.SNOW,+0.08%,DoorDash Inc.and Airbnb Inc.,all based in the Bay Area, were the three biggest U.S. initial public offerings of 2020, not including special-purpose acquisition companies. And even in a booming year for IPOs, Silicon Valley outperformed the rest: 2020 IPOs from the valley grew 117% and S.F. issuances grew 101%, while IPOs in general returned 80% last year, according to the Silicon Valley Index.\nIt was also a record year for venture capital, with funding to Silicon Valley and San Francisco companies increasing 8% from 2019, the report said. Of the $123.6 billion in U.S. VC funding in 2020, $26.4 billion went to Silicon Valley, $20 billion to San Francisco and $67 billion to California. A lot of that investment went into well-known startups including Bay Area decacorns (private companies worth at least $10 billion) like Stripe, Instacart and Robinhood.\n\nThe other, less positive story\nWhile Big Tech flourished and money continued to pour into potential additions to that group, the gap between those flourishing from that performance and Silicon Valley’s poorer residents is wider than ever, the index shows.\nAs of last Friday, 2,069 people in the region had died of COVID-19, Hancock said. Death rates were highest among Native Hawaiians/Pacific Islanders, Black/African Americans and Hispanic or Latinos, respectively. A report by the Mercury News showed that death rates were far higher in poorer neighborhoods than wealthier ones, such as in the largely Latino neighborhoods of East San Jose.\nLower-wage workers lost their jobs or had to put their health at risk to hang onto their positions.\n“The pandemic wiped out our service sector and in-person economy,” Hancock said. “There’s real carnage out there. People have lost their livelihoods.”\nThe region’s community infrastructure and service jobs declined 54% by midyear 2020. Hispanic people were 1.5 times more likely to file unemployment claims as white people, Hancock said. And in December, more than 626,000 households in the Bay Area, including nearly 200,000 households in Silicon Valley, were at risk of eviction or mortgage nonpayment, according to the index.\nShuttle drivers who drove tech employees to various offices around the Bay Area for companies such as Salesforce Inc.,Twitter Inc. and others — which have told their employees they can work remotely permanently or most of the time — have been laid off or furloughed, said Stacy Murphy, business representative for Teamsters Local 853, which represents about 800 shuttle drivers in the Bay Area. Some drivers are still on paid furlough, but others are no longer receiving wages and most have no idea when they can return to work.\n“We are all patiently waiting,” said Murphy, who has said the union is in constant discussions and is advocating for the drivers to keep getting paid.\nThe murky future\nSome data from the index shows that concerns about a threat to the region’s reign as a tech center are not unfounded. Although Silicon Valley’s population did not decline in 2020, a yearslong out-migration trend did continue. Still, the index shows that the net out-migration in 2020 was about half that of the departures from the region in 2001, after the dot-com bubble burst.\nThe index also shows that the employment growth rate of the top 15 largest tech employers in Denver (14.7%) and Sacramento (14.5%) were nearly four times that of the Bay Area’s 3.7%. And the Bay Area’s share of those same companies’ U.S. workforces fell from 26.1% in January 2020 to 23.9% in December. While the percentage gains were smaller, the Bay Area still added more tech jobs in total than the other metropolitan areas.\nMetro areas in Florida, Texas and elsewhere are touting themselves as the next big tech hubs as companies and executives move to places like Texas, where Oracle and Hewlett Packard Enterprise Co. have moved their headquarters — even as many Oracle employees remain in the Bay Area, Hancock pointed out.\nAs other companies move or make decisions about whether their employees should return to the office, it will affect the construction projects that have been put on hold or the office-space rental rates that have mostly held steady.\nThe Bay Area Council, which includes the region’s companies as members and advocates for business-friendly policies, has launched a “business climate” initiative as it worries about companies leaving the region.\n“It’s not going to be an immediate change,” said Patrick Kallerman, research director for the Bay Area Council Economic Institute. “The Bay Area isn’t going to be a ghost town in six months. We’re asking ourselves if this is going to be a long-term, significant change.”\nThose changes will affect the quality of life in the Bay Area as municipalities find themselves with budget shortfalls. Silicon Valley city revenues are expected to decline by an average of 5% mostly due to the pandemic’s effects, according to the SV Index. San Francisco saw sales tax revenue decline 43% in the second quarter of 2020 compared with the prior year, according to the San Francisco Chronicle, which looked at the effects of the pandemic on the city’s once-bustling downtown.\nWhat happens to the big businesses — whether they leave, stay, change their work-from-home policies — will affect the small ones, too.\nAlicia Villanueva, who owns Alicia’s Tamales Los Mayas, a tamale factory in Hayward, Calif., and Lynna Martinez, owner of Cuban Kitchen, a restaurant in San Mateo, Calif., both said that despite devastating drops in their revenue, they avoided laying off any employees because of the Paycheck Protection Program (PPP) and other loans.\nBoth businesses relied heavily on catering to tech and other companies in the Bay Area.\n“We had hundreds of clients, including Oracle, Facebook, Google and Comcast,” Martinez said. “We would do anywhere between 100 to 300 orders before we opened our doors at 11 a.m. Then in March and April, boom, 50% of our business was gone.”\nThe two women said they have had to adjust and make up the lost business however they can. Martinez said her catering business is probably a tenth of what it once was. Villanueva’s son is delivering tamales to a school district that’s more than 60 miles away.\n“He’s waking up at 2 a.m. to get ready and deliver to Vacaville at 5 a.m.,” said Villanueva, who has 21 employees.\nMartinez and her eight employees are relying more on referrals, and she’s now considering franchising.\n“The pandemic forced us to target a wider, more dispersed base,” she said. “In some ways, this was a good challenge for me as a business owner who wanted to pursue the idea of having a franchise.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":369943827,"gmtCreate":1614000743469,"gmtModify":1704886698389,"author":{"id":"3574913552099196","authorId":"3574913552099196","name":"QQ47","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574913552099196","authorIdStr":"3574913552099196"},"themes":[],"htmlText":"Finally!!!","listText":"Finally!!!","text":"Finally!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/369943827","repostId":"1171414372","repostType":4,"repost":{"id":"1171414372","pubTimestamp":1613964674,"share":"https://ttm.financial/m/news/1171414372?lang=&edition=fundamental","pubTime":"2021-02-22 11:31","market":"us","language":"en","title":"Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.","url":"https://stock-news.laohu8.com/highlight/detail?id=1171414372","media":"Barrons","summary":"As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerks","content":"<p>As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare&nbsp;holders, the CEO has much to address.</p><p>They include the&nbsp;underperformance of Berkshire(ticker: BRK.A and BRK.B) shares over the past one, five, and 10 years, Buffett’s cautious approach to new investments, and the spotty record of Berkshire’s acquisitions over the past decade.</p><p>Yet that letter—due out on Feb. 27, along with the annual report and fourth-quarter earnings—can help write Berkshire’s next chapter. All it would need is an announcement of the initiation of a dividend.</p><p>A dividend of 2% would be a good start, representing about 40% of projected 2021 earnings. It would probably lift the stock by broadening the base of potential investors to those who want or need dividends.</p><p>Berkshire has stepped up its share repurchases, buying back $15.7 billion of stock in the first three quarters of 2020, or about 3% of the shares outstanding. But with $146 billion in cash and projected earnings this year of $25 billion, it has the ability to pay a dividend as well as to buy back stock.</p><p>“Berkshire should pay a dividend; this would increase the appeal of the shares to investors who want current income,” says David King, co-manager of the Columbia Flexible Capital Income fund. “Given Berkshire’s size and financial strength, the company is unique in paying no dividend and that should be changed.”</p><p><img src=\"https://static.tigerbbs.com/014471f5dbd6554ccdd4f23756e41a51\" tg-width=\"963\" tg-height=\"627\"></p><p>Berkshire hasn’t paid a dividend for over 50 years. Why? Buffett’s view has been that a dollar in his hands is better than one in the hands of shareholders. That was long the case as Buffett worked his investment and acquisition magic, but it has been less true in recent years. Buffett declined to comment for this article.</p><p>In his 2012 annual letter, the CEO addressed the dividend issue, arguing that the better, and more tax-efficient, approach would be for investors who want income to sell a small portion of their Berkshire stock each year.</p><p>“First, dividends impose a specific cash-out policy upon all shareholders. If, say, 40% of earnings is the policy, those who wish 30% or 50% will be thwarted,” Buffett wrote. “Our 600,000 shareholders cover the waterfront in their desires for cash. It is safe to say, however, that a great many of them—perhaps even most of them—are in a net-savings mode and logically should prefer no payment at all.”</p><p>In 2014, Berkshire holder&nbsp;soverwhelmingly rejected a proxy proposalon dividends.</p><p><img src=\"https://static.tigerbbs.com/d68e1f8f07f62b85a646a858fee9196c\" tg-width=\"956\" tg-height=\"571\" referrerpolicy=\"no-referrer\"></p><p>Yet Berkshire’s cash has more than doubled since then, notes Edward Jones analyst James Shanahan, who favors a dividend. “A dividend is a good idea if only because the cash balance has grown so much,” he says, adding that significant repurchases at Berkshire are more difficult than at other big companies because there is less liquidity in its stock.</p><p>Berkshire’s class A shares have lagged behind theS&amp;P 500 indexby 40 percentage points since the end of 2018. They now look appealing at around $368,000, less than 1.3 times estimated year-end 2020 book value of around $287,000 and about 23 times projected 2021 earnings. Its class B shares trade around $243.</p><p>Berkshire has traded at closer to 1.4 times book value in the past five years, and earnings are set to climb in 2021, thanks to businesses with exposure to an improving economy, like the Burlington Northern Santa Fe railroad.</p><p>Still, the past decade has been one of missed opportunities for Buffett—with the stake inApple(AAPL) the notable exception.While the recently disclosed big purchasesinVerizon Communications(VZ) andChevron(CVX) made waves, Berkshire was likely a net seller of about $9 billion of stocks last year. The company also failed to capitalize on the market turmoil and make any big acquisitions.</p><p>So what else might Berkshire shareholders hope to see in the annual letter? More disclosure would help. It’s hard to know exactly how well Precision Castparts and other major Berkshire businesses are doing because the company doesn’t break out their results.</p><p>There is also the question of succession, with Buffett turning 90 last August. Buffett could give up the CEO job to Berkshire’s vice chairman, Greg Abel, while remaining chairman and continuing to oversee Berkshire’s investment portfolio, including $270 billion of stocks.</p><p>Berkshire hasn’t named an heir apparent to Buffett, but it’s widely assumed to be Abel, 58, who oversees Berkshire’s vast noninsurance operations, including Burlington Northern.</p><p>That would give Abel important experience while Buffett is still on the scene, allowing Abel to take new steps, like potentially holding Berkshire’s first investor day.</p><p>And whether it is Abel or someone else, a dividend would take pressure off Buffett’s successor to reinvest Berkshire’s earnings torrent and align the conglomerate with most other giant companies.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See. </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 11:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare holders, the CEO has much to address.They include the underperformance of ...</p>\n\n<a href=\"https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171414372","content_text":"As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare holders, the CEO has much to address.They include the underperformance of Berkshire(ticker: BRK.A and BRK.B) shares over the past one, five, and 10 years, Buffett’s cautious approach to new investments, and the spotty record of Berkshire’s acquisitions over the past decade.Yet that letter—due out on Feb. 27, along with the annual report and fourth-quarter earnings—can help write Berkshire’s next chapter. All it would need is an announcement of the initiation of a dividend.A dividend of 2% would be a good start, representing about 40% of projected 2021 earnings. It would probably lift the stock by broadening the base of potential investors to those who want or need dividends.Berkshire has stepped up its share repurchases, buying back $15.7 billion of stock in the first three quarters of 2020, or about 3% of the shares outstanding. But with $146 billion in cash and projected earnings this year of $25 billion, it has the ability to pay a dividend as well as to buy back stock.“Berkshire should pay a dividend; this would increase the appeal of the shares to investors who want current income,” says David King, co-manager of the Columbia Flexible Capital Income fund. “Given Berkshire’s size and financial strength, the company is unique in paying no dividend and that should be changed.”Berkshire hasn’t paid a dividend for over 50 years. Why? Buffett’s view has been that a dollar in his hands is better than one in the hands of shareholders. That was long the case as Buffett worked his investment and acquisition magic, but it has been less true in recent years. Buffett declined to comment for this article.In his 2012 annual letter, the CEO addressed the dividend issue, arguing that the better, and more tax-efficient, approach would be for investors who want income to sell a small portion of their Berkshire stock each year.“First, dividends impose a specific cash-out policy upon all shareholders. If, say, 40% of earnings is the policy, those who wish 30% or 50% will be thwarted,” Buffett wrote. “Our 600,000 shareholders cover the waterfront in their desires for cash. It is safe to say, however, that a great many of them—perhaps even most of them—are in a net-savings mode and logically should prefer no payment at all.”In 2014, Berkshire holder soverwhelmingly rejected a proxy proposalon dividends.Yet Berkshire’s cash has more than doubled since then, notes Edward Jones analyst James Shanahan, who favors a dividend. “A dividend is a good idea if only because the cash balance has grown so much,” he says, adding that significant repurchases at Berkshire are more difficult than at other big companies because there is less liquidity in its stock.Berkshire’s class A shares have lagged behind theS&P 500 indexby 40 percentage points since the end of 2018. They now look appealing at around $368,000, less than 1.3 times estimated year-end 2020 book value of around $287,000 and about 23 times projected 2021 earnings. Its class B shares trade around $243.Berkshire has traded at closer to 1.4 times book value in the past five years, and earnings are set to climb in 2021, thanks to businesses with exposure to an improving economy, like the Burlington Northern Santa Fe railroad.Still, the past decade has been one of missed opportunities for Buffett—with the stake inApple(AAPL) the notable exception.While the recently disclosed big purchasesinVerizon Communications(VZ) andChevron(CVX) made waves, Berkshire was likely a net seller of about $9 billion of stocks last year. The company also failed to capitalize on the market turmoil and make any big acquisitions.So what else might Berkshire shareholders hope to see in the annual letter? More disclosure would help. It’s hard to know exactly how well Precision Castparts and other major Berkshire businesses are doing because the company doesn’t break out their results.There is also the question of succession, with Buffett turning 90 last August. Buffett could give up the CEO job to Berkshire’s vice chairman, Greg Abel, while remaining chairman and continuing to oversee Berkshire’s investment portfolio, including $270 billion of stocks.Berkshire hasn’t named an heir apparent to Buffett, but it’s widely assumed to be Abel, 58, who oversees Berkshire’s vast noninsurance operations, including Burlington Northern.That would give Abel important experience while Buffett is still on the scene, allowing Abel to take new steps, like potentially holding Berkshire’s first investor day.And whether it is Abel or someone else, a dividend would take pressure off Buffett’s successor to reinvest Berkshire’s earnings torrent and align the conglomerate with most other giant companies.","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369949254,"gmtCreate":1614000660978,"gmtModify":1704886697095,"author":{"id":"3574913552099196","authorId":"3574913552099196","name":"QQ47","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574913552099196","authorIdStr":"3574913552099196"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369949254","repostId":"1155156489","repostType":4,"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369957518,"gmtCreate":1614000531534,"gmtModify":1704886694177,"author":{"id":"3574913552099196","authorId":"3574913552099196","name":"QQ47","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574913552099196","authorIdStr":"3574913552099196"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369957518","repostId":"1159991476","repostType":4,"repost":{"id":"1159991476","pubTimestamp":1613988504,"share":"https://ttm.financial/m/news/1159991476?lang=&edition=fundamental","pubTime":"2021-02-22 18:08","market":"us","language":"en","title":"Who Rules the Cloud? The Answer Is Hazy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1159991476","media":"Barrons","summary":"Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by definitions that can make comparisons among them almost impossible.Amazon has the clearest story: AWS had net sales of $12.7 billion in the fourth quarter, and $45.4 billion for all of 2020. Sales were up 28% for the quarter, and 30% for the full year.Oracle’s approach isn’t any better. Most of its corporate revenue, including clou","content":"<p>Who has the biggest cloud? Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by definitions that can make comparisons among them almost impossible.</p>\n<p><b>Amazon</b>(ticker: AMZN) has the clearest story: AWS had net sales of $12.7 billion in the fourth quarter, and $45.4 billion for all of 2020. Sales were up 28% for the quarter, and 30% for the full year.</p>\n<p><b>Alphabet</b>(GOOGL) reported revenue of $3.8 billion for its Google Cloud business segment in the latest quarter, up 47%. But that includes results not only from the Google Cloud Platform, its public cloud business, but also from Google Workspace, the collection of productivity tools that used to be called G Suite. Alphabet says that GCP—the piece that competes with AWS—is growing faster than its overall cloud business, but provides no details.</p>\n<p><b>Microsoft’</b>s&nbsp;numbers are messier. The company (MSFT) said that “commercial cloud revenue” was $16.7 billion in the December quarter, up 34% from a year ago. But that’s not an actual reporting segment—the company doesn’t even provide the number every quarter. And it rolls up not just Azure but also Office 365 and other things. Maddeningly, Microsoft also has an overlapping formal business segment called Intelligent Cloud, which includes not only Azure, but also SQL Server, Windows Server, Visual Studio, and GitHub, among other elements. Intelligent Cloud had revenue of $14.6 billion in the latest quarter, up 23%. Azure revenue rose 50% in the quarter, but—sigh—Microsoft offers no dollar figure.</p>\n<p><b>Oracle</b>’s approach isn’t any better. Most of its corporate revenue, including cloud subscriptions, is rolled into a bucket called “cloud services and license support,” which was $7.1 billion in the quarter ended in November, up 4% from a year earlier, and accounting for 71% of revenue. That basically includes all cloud services, plus any recurring subscription services. Oracle (ORCL) partially breaks out some cloud-related bits, but provides no dollar figures.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Who Rules the Cloud? The Answer Is Hazy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWho Rules the Cloud? The Answer Is Hazy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 18:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/who-rules-the-cloud-the-answer-is-hazy-51613786285?mod=hp_DAY_Theme_2_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Who has the biggest cloud? Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by ...</p>\n\n<a href=\"https://www.barrons.com/articles/who-rules-the-cloud-the-answer-is-hazy-51613786285?mod=hp_DAY_Theme_2_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软","AMZN":"亚马逊","GOOGL":"谷歌A","ORCL":"甲骨文"},"source_url":"https://www.barrons.com/articles/who-rules-the-cloud-the-answer-is-hazy-51613786285?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159991476","content_text":"Who has the biggest cloud? Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by definitions that can make comparisons among them almost impossible.\nAmazon(ticker: AMZN) has the clearest story: AWS had net sales of $12.7 billion in the fourth quarter, and $45.4 billion for all of 2020. Sales were up 28% for the quarter, and 30% for the full year.\nAlphabet(GOOGL) reported revenue of $3.8 billion for its Google Cloud business segment in the latest quarter, up 47%. But that includes results not only from the Google Cloud Platform, its public cloud business, but also from Google Workspace, the collection of productivity tools that used to be called G Suite. Alphabet says that GCP—the piece that competes with AWS—is growing faster than its overall cloud business, but provides no details.\nMicrosoft’s numbers are messier. The company (MSFT) said that “commercial cloud revenue” was $16.7 billion in the December quarter, up 34% from a year ago. But that’s not an actual reporting segment—the company doesn’t even provide the number every quarter. And it rolls up not just Azure but also Office 365 and other things. Maddeningly, Microsoft also has an overlapping formal business segment called Intelligent Cloud, which includes not only Azure, but also SQL Server, Windows Server, Visual Studio, and GitHub, among other elements. Intelligent Cloud had revenue of $14.6 billion in the latest quarter, up 23%. Azure revenue rose 50% in the quarter, but—sigh—Microsoft offers no dollar figure.\nOracle’s approach isn’t any better. Most of its corporate revenue, including cloud subscriptions, is rolled into a bucket called “cloud services and license support,” which was $7.1 billion in the quarter ended in November, up 4% from a year earlier, and accounting for 71% of revenue. That basically includes all cloud services, plus any recurring subscription services. Oracle (ORCL) partially breaks out some cloud-related bits, but provides no dollar figures.","news_type":1},"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369954078,"gmtCreate":1614000439094,"gmtModify":1704886692073,"author":{"id":"3574913552099196","authorId":"3574913552099196","name":"QQ47","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574913552099196","authorIdStr":"3574913552099196"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369954078","repostId":"1106666176","repostType":4,"repost":{"id":"1106666176","pubTimestamp":1613987158,"share":"https://ttm.financial/m/news/1106666176?lang=&edition=fundamental","pubTime":"2021-02-22 17:45","market":"us","language":"en","title":"Silicon Valley is not suffering a tech exodus, and money is flowing in at record rate — for a fortunate few","url":"https://stock-news.laohu8.com/highlight/detail?id=1106666176","media":"MarketWatch","summary":"New data show little proof that people are leaving the Bay Area in droves, instead detailing record ","content":"<p>New data show little proof that people are leaving the Bay Area in droves, instead detailing record investment in startups and booming market caps for Big Tech while the region’s poor residents suffer brunt of COVID-19 pandemic</p>\n<p>Despite reports of an exodus, Silicon Valley remains the tech capital of the world, with new data showing continued record investment in the industry in 2020 and no overall declines in jobs and population in the region.</p>\n<p>While the high-profile departures of&nbsp;rich executives and investors like Elon Musk&nbsp;and&nbsp;companies like Oracle Corp.&nbsp;and&nbsp;Hewlett Packard Enterprise Corp.&nbsp;have raised questions about the future of California’s tech powerhouse, an annual report out this week found little evidence of a trend. Instead, the major effect of the COVID-19 pandemic on the San Francisco Bay Area in 2020 was the widening of the divide between the haves and have-nots, thanks to all the money still flowing into just a few pockets as the coronavirus ravages poorer communities.</p>\n<p>“Today, we must frankly admit that the pandemic has made the rich richer while the poor are dying,” said Russell Hancock, chief executive of Joint Venture Silicon Valley, which published its annual Silicon Valley Index this week detailing what happened in the region last year.</p>\n<p>The report showed record venture capital investment in Bay Area startups, along with booming market capitalizations for public tech companies and standard-setting initial public offerings. Amid fears of a tech-worker stampede out of the Golden State as companies allowed remote work, the population in Silicon Valley — defined as Santa Clara and San Mateo counties — was mostly flat for the year, rising 0.02%.</p>\n<p>While an overall out-migration was tracked in San Francisco, the vast majority of those who left the most prominent city in the region last year&nbsp;remained in the state, according to U.S. Postal Service data crunched by the San Francisco Chronicle this week. That’s in line with what the Silicon Valley Index shows: 59% of the people who have left the valley in the past few years have stayed in California, moving up or down the state.</p>\n<p>“I think we can all calm down,” said Rachel Massaro, Joint Venture’s director of research, during a news briefing about the index. “We’re a place of innovation. We’re a place that houses these impactful companies. We have not seen any significant losses among them.”</p>\n<p>In short, the region’s biggest companies and highest-paid people fared drastically better and in many cases thrived — white-collar workers, who earn more than three times as those in service occupations, got to work remotely and protect themselves from a deadly virus — while low-wage workers lost jobs and fell ill, their lack of a safety net shining a harsher light on inequality.</p>\n<p>“It’s a tale of two economies,” Hancock said. “There are two stories.”</p>\n<p><img src=\"https://static.tigerbbs.com/4e74e27c802a7abc5e4f17381a9dc9f7\" tg-width=\"620\" tg-height=\"343\" referrerpolicy=\"no-referrer\"><b>The tech story</b></p>\n<p>Silicon Valley and San Francisco companies’ market capitalization climbed 37% to $10.5 trillion last year, according to the report, thanks to huge spikes from companies such as Tesla Inc.TSLA,-0.77%,which saw its market cap skyrocket more than 700% in 2020; Apple Inc.AAPL,+0.12%,which saw a 77% increase, while Facebook Inc.FB,-2.91%grew 30% and GoogleGOOGL,-0.81%experienced a 28% boost.</p>\n<p>Big Tech kept getting bigger in other ways as well. The top 15 tech employers in the area — which includes the above plus other large companies like Intel Corp.INTC,+2.27%,Salesforce Inc.CRM,-0.18%and Cisco Systems Inc.CSCO,-1.42%— ended the year with a 3.7% increase in jobs even while the region saw a couple hundred thousand jobs disappear overall. And despite nagging questions about the effects of a work-from-home shift on commercial real estate, the largest companies in the region continued construction on existing projects, such as Google’s planned massive development in San Jose, Calif.</p>\n<p>The next generation also received record investment totals. Snowflake Inc.SNOW,+0.08%,DoorDash Inc.and Airbnb Inc.,all based in the Bay Area, were the three biggest U.S. initial public offerings of 2020, not including special-purpose acquisition companies. And even in a booming year for IPOs, Silicon Valley outperformed the rest: 2020 IPOs from the valley grew 117% and S.F. issuances grew 101%, while IPOs in general returned 80% last year, according to the Silicon Valley Index.</p>\n<p>It was also a record year for venture capital, with funding to Silicon Valley and San Francisco companies increasing 8% from 2019, the report said. Of the $123.6 billion in U.S. VC funding in 2020, $26.4 billion went to Silicon Valley, $20 billion to San Francisco and $67 billion to California. A lot of that investment went into well-known startups including Bay Area decacorns (private companies worth at least $10 billion) like Stripe, Instacart and Robinhood.</p>\n<p><img src=\"https://static.tigerbbs.com/aecd2f4f6588dc206cb09b59ebe10136\" tg-width=\"620\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p><b>The other, less positive story</b></p>\n<p>While Big Tech flourished and money continued to pour into potential additions to that group, the gap between those flourishing from that performance and Silicon Valley’s poorer residents is wider than ever, the index shows.</p>\n<p>As of last Friday, 2,069 people in the region had died of COVID-19, Hancock said. Death rates were highest among Native Hawaiians/Pacific Islanders, Black/African Americans and Hispanic or Latinos, respectively. A report by the&nbsp;Mercury News&nbsp;showed that death rates were far higher in poorer neighborhoods than wealthier ones, such as in the largely Latino neighborhoods of East San Jose.</p>\n<p>Lower-wage workers lost their jobs or had to put their health at risk to hang onto their positions.</p>\n<p>“The pandemic wiped out our service sector and in-person economy,” Hancock said. “There’s real carnage out there. People have lost their livelihoods.”</p>\n<p>The region’s community infrastructure and service jobs declined 54% by midyear 2020. Hispanic people were 1.5 times more likely to file unemployment claims as white people, Hancock said. And in December, more than 626,000 households in the Bay Area, including nearly 200,000 households in Silicon Valley, were at risk of eviction or mortgage nonpayment, according to the index.</p>\n<p>Shuttle drivers who drove tech employees to various offices around the Bay Area for companies such as Salesforce Inc.,Twitter Inc.&nbsp;and others — which have told their employees they can work remotely permanently or most of the time — have been laid off or furloughed, said Stacy Murphy, business representative for Teamsters Local 853, which represents about 800 shuttle drivers in the Bay Area. Some drivers are still on paid furlough, but others are no longer receiving wages and most have no idea when they can return to work.</p>\n<p>“We are all patiently waiting,” said Murphy, who has said the union is in constant discussions and is advocating for the drivers to keep getting paid.</p>\n<p><b>The murky future</b></p>\n<p>Some data from the index shows that concerns about a threat to the region’s reign as a tech center are not unfounded. Although Silicon Valley’s population did not decline in 2020, a yearslong out-migration trend did continue. Still, the index shows that the net out-migration in 2020 was about half that of the departures from the region in 2001, after the dot-com bubble burst.</p>\n<p>The index also shows that the employment growth rate of the top 15 largest tech employers in Denver (14.7%) and Sacramento (14.5%) were nearly four times that of the Bay Area’s 3.7%. And the Bay Area’s share of those same companies’ U.S. workforces fell from 26.1% in January 2020 to 23.9% in December. While the percentage gains were smaller, the Bay Area still added more tech jobs in total than the other metropolitan areas.</p>\n<p>Metro areas in Florida, Texas and elsewhere are touting themselves as the next big tech hubs as companies and executives move to places like Texas, where Oracle and Hewlett Packard Enterprise Co.&nbsp;have moved their headquarters — even as many Oracle employees remain in the Bay Area, Hancock pointed out.</p>\n<p>As other companies move or make decisions about whether their employees should return to the office, it will affect the construction projects that have been put on hold or the office-space rental rates that have mostly held steady.</p>\n<p>The Bay Area Council, which includes the region’s companies as members and advocates for business-friendly policies, has launched a “business climate” initiative as it worries about companies leaving the region.</p>\n<p>“It’s not going to be an immediate change,” said Patrick Kallerman, research director for the Bay Area Council Economic Institute. “The Bay Area isn’t going to be a ghost town in six months. We’re asking ourselves if this is going to be a long-term, significant change.”</p>\n<p>Those changes will affect the quality of life in the Bay Area as municipalities find themselves with budget shortfalls. Silicon Valley city revenues are expected to decline by an average of 5% mostly due to the pandemic’s effects, according to the SV Index. San Francisco saw sales tax revenue decline 43% in the second quarter of 2020 compared with the prior year, according to the&nbsp;San Francisco Chronicle, which looked at the effects of the pandemic on the city’s once-bustling&nbsp;downtown.</p>\n<p>What happens to the big businesses — whether they leave, stay, change their work-from-home policies — will affect the small ones, too.</p>\n<p>Alicia Villanueva, who owns Alicia’s Tamales Los Mayas, a tamale factory in Hayward, Calif., and Lynna Martinez, owner of Cuban Kitchen, a restaurant in San Mateo, Calif., both said that despite devastating drops in their revenue, they avoided laying off any employees because of the Paycheck Protection Program (PPP) and other loans.</p>\n<p>Both businesses relied heavily on catering to tech and other companies in the Bay Area.</p>\n<p>“We had hundreds of clients, including Oracle, Facebook, Google and Comcast,” Martinez said. “We would do anywhere between 100 to 300 orders before we opened our doors at 11 a.m. Then in March and April, boom, 50% of our business was gone.”</p>\n<p>The two women said they have had to adjust and make up the lost business however they can. Martinez said her catering business is probably a tenth of what it once was. Villanueva’s son is delivering tamales to a school district that’s more than 60 miles away.</p>\n<p>“He’s waking up at 2 a.m. to get ready and deliver to Vacaville at 5 a.m.,” said Villanueva, who has 21 employees.</p>\n<p>Martinez and her eight employees are relying more on referrals, and she’s now considering franchising.</p>\n<p>“The pandemic forced us to target a wider, more dispersed base,” she said. “In some ways, this was a good challenge for me as a business owner who wanted to pursue the idea of having a franchise.”</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silicon Valley is not suffering a tech exodus, and money is flowing in at record rate — for a fortunate few</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilicon Valley is not suffering a tech exodus, and money is flowing in at record rate — for a fortunate few\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 17:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/silicon-valley-is-not-suffering-a-tech-exodus-and-money-is-flowing-in-at-record-rate-for-a-fortunate-few-11613760421?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New data show little proof that people are leaving the Bay Area in droves, instead detailing record investment in startups and booming market caps for Big Tech while the region’s poor residents suffer...</p>\n\n<a href=\"https://www.marketwatch.com/story/silicon-valley-is-not-suffering-a-tech-exodus-and-money-is-flowing-in-at-record-rate-for-a-fortunate-few-11613760421?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","TWTR":"Twitter","TSLA":"特斯拉","AAPL":"苹果",".SPX":"S&P 500 Index","ABNB":"爱彼迎","DASH":"DoorDash, Inc.",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/silicon-valley-is-not-suffering-a-tech-exodus-and-money-is-flowing-in-at-record-rate-for-a-fortunate-few-11613760421?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1106666176","content_text":"New data show little proof that people are leaving the Bay Area in droves, instead detailing record investment in startups and booming market caps for Big Tech while the region’s poor residents suffer brunt of COVID-19 pandemic\nDespite reports of an exodus, Silicon Valley remains the tech capital of the world, with new data showing continued record investment in the industry in 2020 and no overall declines in jobs and population in the region.\nWhile the high-profile departures of rich executives and investors like Elon Musk and companies like Oracle Corp. and Hewlett Packard Enterprise Corp. have raised questions about the future of California’s tech powerhouse, an annual report out this week found little evidence of a trend. Instead, the major effect of the COVID-19 pandemic on the San Francisco Bay Area in 2020 was the widening of the divide between the haves and have-nots, thanks to all the money still flowing into just a few pockets as the coronavirus ravages poorer communities.\n“Today, we must frankly admit that the pandemic has made the rich richer while the poor are dying,” said Russell Hancock, chief executive of Joint Venture Silicon Valley, which published its annual Silicon Valley Index this week detailing what happened in the region last year.\nThe report showed record venture capital investment in Bay Area startups, along with booming market capitalizations for public tech companies and standard-setting initial public offerings. Amid fears of a tech-worker stampede out of the Golden State as companies allowed remote work, the population in Silicon Valley — defined as Santa Clara and San Mateo counties — was mostly flat for the year, rising 0.02%.\nWhile an overall out-migration was tracked in San Francisco, the vast majority of those who left the most prominent city in the region last year remained in the state, according to U.S. Postal Service data crunched by the San Francisco Chronicle this week. That’s in line with what the Silicon Valley Index shows: 59% of the people who have left the valley in the past few years have stayed in California, moving up or down the state.\n“I think we can all calm down,” said Rachel Massaro, Joint Venture’s director of research, during a news briefing about the index. “We’re a place of innovation. We’re a place that houses these impactful companies. We have not seen any significant losses among them.”\nIn short, the region’s biggest companies and highest-paid people fared drastically better and in many cases thrived — white-collar workers, who earn more than three times as those in service occupations, got to work remotely and protect themselves from a deadly virus — while low-wage workers lost jobs and fell ill, their lack of a safety net shining a harsher light on inequality.\n“It’s a tale of two economies,” Hancock said. “There are two stories.”\nThe tech story\nSilicon Valley and San Francisco companies’ market capitalization climbed 37% to $10.5 trillion last year, according to the report, thanks to huge spikes from companies such as Tesla Inc.TSLA,-0.77%,which saw its market cap skyrocket more than 700% in 2020; Apple Inc.AAPL,+0.12%,which saw a 77% increase, while Facebook Inc.FB,-2.91%grew 30% and GoogleGOOGL,-0.81%experienced a 28% boost.\nBig Tech kept getting bigger in other ways as well. The top 15 tech employers in the area — which includes the above plus other large companies like Intel Corp.INTC,+2.27%,Salesforce Inc.CRM,-0.18%and Cisco Systems Inc.CSCO,-1.42%— ended the year with a 3.7% increase in jobs even while the region saw a couple hundred thousand jobs disappear overall. And despite nagging questions about the effects of a work-from-home shift on commercial real estate, the largest companies in the region continued construction on existing projects, such as Google’s planned massive development in San Jose, Calif.\nThe next generation also received record investment totals. Snowflake Inc.SNOW,+0.08%,DoorDash Inc.and Airbnb Inc.,all based in the Bay Area, were the three biggest U.S. initial public offerings of 2020, not including special-purpose acquisition companies. And even in a booming year for IPOs, Silicon Valley outperformed the rest: 2020 IPOs from the valley grew 117% and S.F. issuances grew 101%, while IPOs in general returned 80% last year, according to the Silicon Valley Index.\nIt was also a record year for venture capital, with funding to Silicon Valley and San Francisco companies increasing 8% from 2019, the report said. Of the $123.6 billion in U.S. VC funding in 2020, $26.4 billion went to Silicon Valley, $20 billion to San Francisco and $67 billion to California. A lot of that investment went into well-known startups including Bay Area decacorns (private companies worth at least $10 billion) like Stripe, Instacart and Robinhood.\n\nThe other, less positive story\nWhile Big Tech flourished and money continued to pour into potential additions to that group, the gap between those flourishing from that performance and Silicon Valley’s poorer residents is wider than ever, the index shows.\nAs of last Friday, 2,069 people in the region had died of COVID-19, Hancock said. Death rates were highest among Native Hawaiians/Pacific Islanders, Black/African Americans and Hispanic or Latinos, respectively. A report by the Mercury News showed that death rates were far higher in poorer neighborhoods than wealthier ones, such as in the largely Latino neighborhoods of East San Jose.\nLower-wage workers lost their jobs or had to put their health at risk to hang onto their positions.\n“The pandemic wiped out our service sector and in-person economy,” Hancock said. “There’s real carnage out there. People have lost their livelihoods.”\nThe region’s community infrastructure and service jobs declined 54% by midyear 2020. Hispanic people were 1.5 times more likely to file unemployment claims as white people, Hancock said. And in December, more than 626,000 households in the Bay Area, including nearly 200,000 households in Silicon Valley, were at risk of eviction or mortgage nonpayment, according to the index.\nShuttle drivers who drove tech employees to various offices around the Bay Area for companies such as Salesforce Inc.,Twitter Inc. and others — which have told their employees they can work remotely permanently or most of the time — have been laid off or furloughed, said Stacy Murphy, business representative for Teamsters Local 853, which represents about 800 shuttle drivers in the Bay Area. Some drivers are still on paid furlough, but others are no longer receiving wages and most have no idea when they can return to work.\n“We are all patiently waiting,” said Murphy, who has said the union is in constant discussions and is advocating for the drivers to keep getting paid.\nThe murky future\nSome data from the index shows that concerns about a threat to the region’s reign as a tech center are not unfounded. Although Silicon Valley’s population did not decline in 2020, a yearslong out-migration trend did continue. Still, the index shows that the net out-migration in 2020 was about half that of the departures from the region in 2001, after the dot-com bubble burst.\nThe index also shows that the employment growth rate of the top 15 largest tech employers in Denver (14.7%) and Sacramento (14.5%) were nearly four times that of the Bay Area’s 3.7%. And the Bay Area’s share of those same companies’ U.S. workforces fell from 26.1% in January 2020 to 23.9% in December. While the percentage gains were smaller, the Bay Area still added more tech jobs in total than the other metropolitan areas.\nMetro areas in Florida, Texas and elsewhere are touting themselves as the next big tech hubs as companies and executives move to places like Texas, where Oracle and Hewlett Packard Enterprise Co. have moved their headquarters — even as many Oracle employees remain in the Bay Area, Hancock pointed out.\nAs other companies move or make decisions about whether their employees should return to the office, it will affect the construction projects that have been put on hold or the office-space rental rates that have mostly held steady.\nThe Bay Area Council, which includes the region’s companies as members and advocates for business-friendly policies, has launched a “business climate” initiative as it worries about companies leaving the region.\n“It’s not going to be an immediate change,” said Patrick Kallerman, research director for the Bay Area Council Economic Institute. “The Bay Area isn’t going to be a ghost town in six months. We’re asking ourselves if this is going to be a long-term, significant change.”\nThose changes will affect the quality of life in the Bay Area as municipalities find themselves with budget shortfalls. Silicon Valley city revenues are expected to decline by an average of 5% mostly due to the pandemic’s effects, according to the SV Index. San Francisco saw sales tax revenue decline 43% in the second quarter of 2020 compared with the prior year, according to the San Francisco Chronicle, which looked at the effects of the pandemic on the city’s once-bustling downtown.\nWhat happens to the big businesses — whether they leave, stay, change their work-from-home policies — will affect the small ones, too.\nAlicia Villanueva, who owns Alicia’s Tamales Los Mayas, a tamale factory in Hayward, Calif., and Lynna Martinez, owner of Cuban Kitchen, a restaurant in San Mateo, Calif., both said that despite devastating drops in their revenue, they avoided laying off any employees because of the Paycheck Protection Program (PPP) and other loans.\nBoth businesses relied heavily on catering to tech and other companies in the Bay Area.\n“We had hundreds of clients, including Oracle, Facebook, Google and Comcast,” Martinez said. “We would do anywhere between 100 to 300 orders before we opened our doors at 11 a.m. Then in March and April, boom, 50% of our business was gone.”\nThe two women said they have had to adjust and make up the lost business however they can. Martinez said her catering business is probably a tenth of what it once was. Villanueva’s son is delivering tamales to a school district that’s more than 60 miles away.\n“He’s waking up at 2 a.m. to get ready and deliver to Vacaville at 5 a.m.,” said Villanueva, who has 21 employees.\nMartinez and her eight employees are relying more on referrals, and she’s now considering franchising.\n“The pandemic forced us to target a wider, more dispersed base,” she said. “In some ways, this was a good challenge for me as a business owner who wanted to pursue the idea of having a franchise.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}