Steve Jobs' boy thinks San Francisco's pandemic-era existent property slump helped displacement Silicon Valley's halfway of gravity up north.
Reed Jobs said connected the Sabrina Halper Show that Palo Alto and the South Bay were "where each the juice was" during his father's career, erstwhile companies including Apple, Google, HP, IBM, and Sun Microsystems clustered there.
"And wherever is the power now? I would opportunity it has really migrated northbound of San Francisco," Jobs said, pointing to OpenAI, Anthropic, and Chai Discovery. "The power is here, and the companies are here."
Jobs, who grew up successful Palo Alto and has lived successful San Francisco for 9 years, said the pandemic "made a batch of agency abstraction really cheap" successful the city, truthful though San Francisco "got very dark" arsenic residents and companies departed, the upheaval made it cheaper to motorboat businesses.
"It was conscionable a earthy turning constituent for the city," Jobs said. "It's really each happening up present successful San Francisco."
Affordable agency spaces are highly preferred by tech startups. San Francisco itself is seeing the AI boom displacement to smaller neighborhoods alternatively of the traditionally sought-after Financial District. According to a fourth-quarter 2025 study from Cresa, the Design District, for example, wherever agency abstraction costs astir $59.53 per quadrate foot, is seeing a startup cluster. By comparison, agency spaces successful the Financial District and Mission Bay some costs astatine slightest $70 per quadrate foot.
Compared to the sparse Mountain View and the sprawling campuses of Silicon Valley, experts successful municipality readying and invention person besides antecedently told Business Insider that startups for illustration energetic areas, pinch mixed-use and easy reconfigurable agency spaces that don't travel astatine a premium, owed to the request to accommodate agelong activity hours and collaboration.
Jobs, 34, is the boy of Apple cofounder Steve Jobs and philanthropist Laurene Powell Jobs. He antecedently led healthcare investing astatine his mother's Emerson Collective earlier spinning retired Yosemite arsenic an independent patient successful 2023. The San Francisco-based task patient invests exclusively successful oncology, combining investments successful cancer-focused companies pinch philanthropic grants for world research.
"So for me, I emotion pursuing wherever the action is," said Reed. "We're building Yosemite to beryllium correct successful the heavy of things. So, we're building it present successful San Francisco."
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