A naukri.com initiative
Saastr
4w
424
Image Credit: Saastr
Is Palo Alto Falling into Urban Decay? I Hope Not
- Downtown Palo Alto holds a special place in the hearts of SaaS veterans as it played a vital role when the web finally came back after the” Dot Com” era.
- Palantir scaled from downtown Palo Alto, eventually taking over every single office there.
- Most of Palantir’s downtown spaces now remain empty after the COVID-19 pandemic hit, and it failed to come back.
- The area is still where so many tech leaders live, and a subset work as it’s just a walk from Stanford.
- However, a recent tweet suggests that downtown Palo Alto may be quietly crossing into urban decay as the park has been overridden with homeless and marijuana.
- Retail has almost entirely left for the Stanford Mall, leaving almost no retail anymore at all other than the Apple store.
- Furthermore, all of the gyms are gone, and Hana Haus and Blue Bottle recently closed, pushing the vacancies to a “too high” level.
- Rents remain insanely high, making landlords leave their spaces empty, which could be detrimental to downtown itself.
- Downtown Palo Alto saw tough times during the Global Financial Crisis, but it never had an element of urban decay.
- It’s still not too late to make it a tech campus again, as it’s still located in a great spot.
Read Full Article
25 Likes
For uninterrupted reading, download the app