Scott Budman

Hey!
BlueSky just topped 40 million users.

#Breaking: Netflix says it will split its stock 10-1.
$NFLX

#New: Rent prices (median 1BR):

New York: $4,400
San Francisco: $3,510*
Boston: $2,900
Jersey City: $2,890
San Jose: $2,710
Miami: $2,550
Los Angeles: $2,250
San Diego: $2,250
Wash, DC: $2,200

*Up 17.6% since one year ago.

Source: Zumper

We have tech companies (Amazon, Salesforce, Chegg, Meta....) cutting thousands of jobs because AI is getting more efficient.

We also now have THREE AI-related tech companies ($NVDA, $MSFT, $AAPL) worth $4 trillion dollars each.

Ninety minutes from New York to Paris …..

#New: California Governor Gavin Newsom and Attorney General Rob Bonta say the state will file a lawsuit “immediately” if President Trump sends federalized members of the military to San Francisco.

Annual salary you need to live “comfortably” in:

San Jose: $246,946
San Francisco: $251,398
San Diego: $206,353
Los Angeles: $194,920
New York: $184,420
Seattle: $178,520
Boston: $169,155
Oakland: $163,559

Source: @GOBankingRates

#New: Median home price, by county*

San Mateo: $2.15 million
Santa Clara: $2.0 m
San Francisco: $1.75 m
Alameda: $1.25 m
Los Angeles: $983,000
Contra Costa: $870,000

*all higher than one year ago.

Source: @CAREALTORS

#New: Airports in the Bay Area say they are not playing a video of Secretary of Homeland Security Kristi Noem saying Democrats are to blame for the federal government shutdown.

#New: There are now no major metro areas in the US where buying a home is less expensive than renting a home.

Gap between monthly mortgage payments and rent payments:

San Francisco: 191%
San Jose: 186%
Seattle: 120%

Source: @InvestorsObserv

End of an era:

AOL has officially stopped its dial-up internet service.

Do you remember that sound?

#Breaking: Apple has removed the “Ice Block” app from its App Store.

#New: What it costs to rent in the Bay Area (avg 1BR):

San Francisco: $3,510
Mtn. View: $3,290
Redwood City: $3,130
Palo Alto: $3,090
Sunnyvale: $3,060
Santa Clara: $2,970
San Jose: $2,730
Walnut Creek: $2,560
Oakland: $1,990

Source: @Zumper

#New: Microsoft says it will no longer allow Israel’s military to have access to some of its Azure technology being used for surveillance in Gaza.

This comes after pressure from Microsoft employees and some investors.
$MSFT

#New: California has the highest unemployment rate among all states at 5.5%.

Job growth in the state has slowed to 3,800 jobs total for the month.

In 2024, the monthly average was 25,000 jobs gained.

Source: @BLS_gov

58%.
Shot tonight from Silicon Valley.

#Breaking: Most Trump tariffs ruled illegal by US Appeals Court.

They described him to me as a “playful, friendly, neutered male.”

I mean …

This weekend, help #cleartheshelters by adopting pets like “Scott Budman” from shelters (yes, you can choose a better name).

#Now: Anti-ICE protestors marching through Palo Alto to Palantir (sound up):

I cashed mine in so I could buy some $YZY

#BREAKING: Moment US citizen (Angie) released from ICE custody in San Francisco…

The San Francisco Giants’ payroll is close to 3 times that of the A’s.

The Giants have won 3 more games than the A’s so far this year.

In Silicon Valley, the average homeowner pays $139,596 a year in mortgage costs.

That’s $18,436 more than the average annual income.

-@zoocasa

If you live in Silicon Valley and make $112,000 a year, you’re now considered “low income.”

-@DCDHCD

#New: Top two cities where homes sold for the most above asking this year:

1. San Francisco: +16.1%
2. San Jose: +11.4%

*96% of US cities reported average home sale prices lower than original listing.
*Average US sale price $43,000 less than asking price.

-zillow

#New: Elon Musk is threatening to sue Apple because of how he thinks xAI is ranked in the App Store.

#Breaking: Tariffs on China delayed by President Trump for 90 days.

#New: Getting asked a LOT about Instagram “Maps”
today:

To shut it off (and not get tracked):

1. Setting and Activity
2. Story, Live, and Location
3. Location Sharing
4. “No One”

#Update: Apple's stock market value went up close to $150 billion in the regular trading session, on news that Tim Cook was meeting with President Trump.

In after hours trading, as Cook mentioned Apple's commitment to AI, the stock gained another $100 billion.
$AAPL