🚀📉💫 $1 billion hotel value drop; Pelosi buys Nvidia, sells Tesla; SB 423 and more

Moonshots and Doom Loops is a weekly rundown of the biggest stories in Bay Area business. Here's what's been moving markets and making headlines over the last seven days.

Value of San Francisco's largest hotel complex drops by $1 billion by Alex Barreira

San Francisco's two largest hotels have lost more than $1 billion in value as the city's hotel market recovery continues to lag the rest of the country, according to new research from KBRA . Read more.

Salesforce investor vote shows lack of confidence in CEO Marc Benioff's pay increase by Ted Andersen

A majority of Salesforce shareholders have sided against CEO Marc Benioff's executive pay package. Details of Benioff's compensation include $3 million for security and $1 million for travel. Not a bad commute. Read more.

Nancy Pelosi discloses purchase of over $1 million in shares of Nvidia, sell-off of Tesla by William Hicks

San Francisco's congressional representative, Nancy Pelosi, has disclosed her household's trading activity in recent months, revealing some major bets on Bay Area companies, especially in AI. Read more.

UCSF outlines big plans for city's southern waterfront by Ron Leuty

A nearly 300,000-square-foot research and outpatient cancer treatment center, proposed by University of California, San Francisco , on part of the site of the former Potrero Power Station has been approved by San Francisco supervisors. Redevelopment of the Potrero Power Station site — just south of the Warriors' Chase Center — has been a priority of city officials for years. Read more.

Landmark bill creates unprecedented path to approval for housing in San Francisco by Sarah Klearman & Max Harrison-Caldwell

Senate Bill 423 has gone into effect in San Francisco, clearing the way for newly-proposed residential projects to evade the city’s infamously lengthy approval processes. Could this be the key to unlocking housing development in the city? Read more.

The week in Bay Area real estate

• Details emerge in deal to save S.F. luxury high-rise from foreclosure
• Rare 16-story apartment tower could rise in Oakland’s Rockridge neighborhood
• East Bay office park on the market for first time since the '90s

EXCLUSIVE COVER STORY

Can AI go from promise to products to profits? by Suman Bhattacharyya

It’s hard to understate the size of the tech investing sector’s bet on AI, and what’s at stake for the region. But AI's next frontier may not be a technical one, but finding the salespeople it's going to need. Read more.

ICYMI: Here's what else you need to know

• 'Serious security incident' forces shutdown of major Patelco Credit Union systems
• Patelco Credit Union faces lawsuit as it reels from ransomware attack
• Pizza chain closing its last S.F. restaurant and opening another?
• AI and Brock Purdy just part of the game for this ad agency president

Closing soon...

Nominations for our annual Most Influential Women in Bay Area Business close on Sunday July 14.

Who are the most influential women in Bay Area business you know? This is our biggest event of the yearHelp us celebrate them.

Make your nominations here.

Moonshots and Doom Loops

This weekly Bay Area business  round-up is written by Simon Campbell, special projects editor at the San Francisco Business Times. Reach out with news tips, questions or comments: scampbell@bizjournals.com.  

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