Latest / Bloomberg Intelligence / Anthropic in Talks to Raise $30 Billion at $900 Billion Value

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Anthropic in Talks to Raise $30 Billion at $900 Billion Value · Bloomberg Intelligence

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  Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the
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  Speaker 1: Bloomberg Intelligence podcast. Catch us live weekdays at ten am.
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  Speaker 1: Bloomberg Business App. Listen on demand wherever you get your podcasts,
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  Speaker 1: or watch us live on YouTube.
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  Speaker 2: Just down the street from us in our San Francisco
• 0:26
  Speaker 2: bureau is Ed Lovelow.
• 0:27
  Speaker 3: He's our b Tech anchor.
• 0:29
  Speaker 2: We tried to convince them to couldn't work over it,
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  Speaker 2: I know, but I think he has to get ready
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  Speaker 2: for his own show coming up. So Ed is joining
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  Speaker 2: us right now from our San Francisco bureau and Ed
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  Speaker 2: the big story here in the Bay Area in Silicon Valleys, Anthropic,
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  Speaker 2: the AI startup in talks to raise thirty billion dollars
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  Speaker 2: that would give it a nine hundred billion dollar valuation.
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  Speaker 2: I mean, this company just gets bigger and bigger, more
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  Speaker 2: and more valuable every time we talk about it.
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  Speaker 4: It's it's been a bit of a rollercoaster in the
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  Speaker 4: sense that the story started with basically rebuffing its investors.
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  Speaker 4: It's investors were like kicking down the door saying, let
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  Speaker 4: us give you some money, and here's how we think
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  Speaker 4: you should be valued, and they just weren't interested for
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  Speaker 4: quite a number of weeks until this week, where this
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  Speaker 4: is like a real live situation. They kind of accept
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  Speaker 4: that the idea of raising thirty to thirty five billion
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  Speaker 4: dollars makes sense right now through the private markets. And
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  Speaker 4: you know, the discussions are around a nine hundred billion
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  Speaker 4: dollar valuation, but probably if they're a bit higher than that,
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  Speaker 4: which if it happens, you know, we're reporting it could
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  Speaker 4: close even by the end of May. It would be
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  Speaker 4: the world's most valuable AI startup. But if you're keeping track,
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  Speaker 4: it would mean it would be more valuable than Open AI,
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  Speaker 4: which is a good bit of rivalry to be covering.
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  Speaker 3: And after the shows are w I'm going to cruise
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  Speaker 3: on over to Sandhill Road see some of my buddies there.
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  Speaker 3: Nice I want to talk to them about IPOs, I mean,
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  Speaker 3: talk to us about the Anfield pipeline. For all you
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  Speaker 3: guys out here, this is going to be a big,
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  Speaker 3: big year potentially. Yeah.
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  Speaker 4: Yeah, so much time spent down Sandhill Roads. Not just
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  Speaker 4: like the vcs and the like mutual funds, late stage
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  Speaker 4: private growth equity, but like if you are a cruising
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  Speaker 4: and you're using a Tesla for self driving or you
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  Speaker 4: can almost go that far in a way mo. Actually,
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  Speaker 4: then the people you meet, they're really interesting and they
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  Speaker 4: all have skin in the game. Around the IPO this week,
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  Speaker 4: which is Cerebras, right, and you know, evaluation around thirty
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  Speaker 4: five billion dollars. It's been a real hot ticket. It
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  Speaker 4: will be the biggest IPO of the year so far
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  Speaker 4: in terms of dollars raised. But you know the problem
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  Speaker 4: that Cerebris will have is that we're all waiting on
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  Speaker 4: SpaceX and it's very difficult for the market to look
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  Speaker 4: past that one that's likely to be late June or July.
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  Speaker 2: To what extent are these AI companies looking at market
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  Speaker 2: conditions when they consider listing, Because for every other company
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  Speaker 2: that's would be paramount, But I mean it feels like
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  Speaker 2: we're talking about a different economy entirely for these AI companies.
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  Speaker 4: Yeah, sometimes it's really important to say like we just
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  Speaker 4: don't know, it's not in the reporting. But if you
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  Speaker 4: take Anthropic as an example, we had reported that they
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  Speaker 4: would go public in October of this year. Now they're
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  Speaker 4: raising a big chunk of change in the private markets.
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  Speaker 3: And the sort of broader story was.
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  Speaker 4: Like why bother going public, right, if the private markets
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  Speaker 4: can supply you the liquidity that you need to fund
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  Speaker 4: your operations and invest in the compute that you need.
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  Speaker 4: No point. There's also the kind of idea that we're
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  Speaker 4: in a three line race between SpaceX, Open AI and
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  Speaker 4: Anthropics all go public in a single calendar year. And
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  Speaker 4: like Paul, you'll know, it is not infinite liquidity for
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  Speaker 4: people that matter to participate in three IPOs at that scale.
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  Speaker 3: Probably, So the reason I.
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  Speaker 4: Say we don't know is, you know, maybe Anthropic is
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  Speaker 4: not going to go in October now, maybe it's next year.
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  Speaker 4: Maybe everyone's waiting on SpaceX to see if at that
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  Speaker 4: scale Andthropic or open AI could pull off an IPO
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  Speaker 4: at evaluation that's north of a trillion dollars or whatever
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  Speaker 4: it ends up being. And with those two in particular,
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  Speaker 4: scarlet like really interesting point. There's the public benefit corporation
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  Speaker 4: or the charitable arm of each, which complicates the structure
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  Speaker 4: of an IPO, which hasn't really been worked out yet
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  Speaker 4: as far as I know.
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  Speaker 3: And for better or worse, you are the Elon Musk
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  Speaker 3: whisperer SpaceX God talk to us about the time and
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  Speaker 3: of that potential IPO.
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  Speaker 4: Yeah, I mean, you know, we broke the story first
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  Speaker 4: week in May. I believe that that they had filed confidentially,
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  Speaker 4: and you know, if we were right about that, which
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  Speaker 4: I'm sure we were, then that s one or that
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  Speaker 4: that filing will be made public by the SEC very
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  Speaker 4: very soon, very soon, like in a matter of days,
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  Speaker 4: so they could do it in late mid to late June.
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  Speaker 4: But you know, again, timing is everything, and you know,
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  Speaker 4: as we speak, you know there will be ongoing conversations
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  Speaker 4: with investors. But remember, like look past Elon Musk a
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  Speaker 4: little bit, SpaceX has got talent beyond him, and you
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  Speaker 4: know the CFO Brent Johnson handles a lot of that
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  Speaker 4: when shot, while the President handles a lot of that,
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  Speaker 4: as does Jared Virtual, who's like Elon's sort of private
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  Speaker 4: finance guy and straddles all his companies. So you know,
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  Speaker 4: it's all in the works.
• 5:10
  Speaker 3: Stay with us.
• 5:11
  Speaker 2: More from Bloomberg Intelligence coming up after this.
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  Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
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  Speaker 1: weekdays at ten am Eastern on Apple, Cocklay and Android
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  Speaker 1: you get your podcasts, or watch us live on YouTube.
• 5:31
  Speaker 3: We're broadcasting live from the Eisner Emperor West Coast Real
• 5:34
  Speaker 3: Estate Summit in San Francisco, and out here at SF
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  Speaker 3: it is all about AI. Everybody is into it. It
• 5:40
  Speaker 3: has revitalized this city post pandemic, which is a beautiful
• 5:45
  Speaker 3: thing because I'm a huge fan of San Francisco. Right now,
• 5:49
  Speaker 3: we're going to check in with Turun Russoni, CEO at
• 5:52
  Speaker 3: Groove AI. My notes tell me that Groove is an
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  Speaker 3: enterprise AI services platform that helps businesses move from AI experimentation,
• 5:59
  Speaker 3: which is where I, to full scale deployment. Taran, thanks
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  Speaker 3: so much for joining us here. How do you get
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  Speaker 3: your clients, the companies you deal with, from experimenting with
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  Speaker 3: AI to really deploying it fully in their business? What
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  Speaker 3: do you do there?
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  Speaker 5: Thank you so much for having me here.
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  Speaker 6: So we help companies understand how AI adoption can be
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  Speaker 6: improved in their environment, thinking about security, data and the
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  Speaker 6: underlying governance and infrastructure that they need to securely adopt
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  Speaker 6: AI in their environment and to adopt EI within the enterprise.
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  Speaker 5: Security, privacy, trust.
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  Speaker 6: And governments are very important parameters before you get into
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  Speaker 6: AI adoption.
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  Speaker 2: So at this conference, the iSER Amper's West Coast real
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  Speaker 2: Estate Summit where there's a lot of folks in commercial
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  Speaker 2: real estate, their investors or their principles.
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  Speaker 3: What is your message?
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  Speaker 2: What is the message of an AI company to these
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  Speaker 2: folks in the real estate industry.
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  Speaker 6: Yeah, as you know, AI requires a lot of infrastructure.
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  Speaker 6: The underlying infrastructure is energy, data centers, a lot of compute,
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  Speaker 6: and the compute requirements are ten hundred thousand x bigger.
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  Speaker 6: So real estate group is a very important part of
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  Speaker 6: this buildout.
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  Speaker 5: And the message here is very simple.
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  Speaker 6: There's going to be a lot of demand and needs
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  Speaker 6: for these AI inference data centers that are going to
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  Speaker 6: grow in the next three to five years, and it
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  Speaker 6: is going to require us to build inference clusters at
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  Speaker 6: the edge.
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  Speaker 5: The last mile and the edge has always been very important.
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  Speaker 6: So the real estate group plays a very big role
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  Speaker 6: in that last mile and edge.
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  Speaker 3: So when you talk when you work with your clients,
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  Speaker 3: are you talking to like the chief technical officer, Are
• 7:44
  Speaker 3: you talking to the CEO? Are you talking to the board?
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  Speaker 3: I mean my question is are companies just broadly defined here?
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  Speaker 3: How much are they really into AI? How much? At
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  Speaker 3: what level they trying to really grasp it and attack it?
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  Speaker 5: Yeah? This is a this is a of great questions.
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  Speaker 6: So at the board level, every board is talking about
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  Speaker 6: AI right now. That's their biggest focus. And AI is compounding,
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  Speaker 6: So the sooner you start, the more compounding benefits you
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  Speaker 6: derive out of AI. At the c level, every CEO's
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  Speaker 6: first concern is is this something I can trust? Is
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  Speaker 6: this going to help me keep my enterprise secure? Is
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  Speaker 6: this going to help me take it forward? At the CEO, CIO,
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  Speaker 6: CSOW level, the concerns are more around how do we
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  Speaker 6: make sure like our business lines, our service groups can
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  Speaker 6: adopt this very efficiently, and it's going to.
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  Speaker 2: Be at varying rates of adoption for different companies depending
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  Speaker 2: on how management feels about it, you know, how committed
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  Speaker 2: the staff is as well. But in the physical buildout
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  Speaker 2: of AI, the data centers, the infrastructure, we're in California
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  Speaker 2: right now, but that's not necessarily where the data centers
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  Speaker 2: are being built, right, I mean, it's being clustered across
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  Speaker 2: the country.
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  Speaker 6: Yeah, So all of the EI data centers that have
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  Speaker 6: been built in the last three to five years were purely.
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  Speaker 5: Focused on energy efficiency.
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  Speaker 6: Where could they find the lowest cost of energy and
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  Speaker 6: how could they build a massive training cluster.
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  Speaker 2: So that's not California.
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  Speaker 5: That's not definitely not California, you know.
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  Speaker 6: But as we go from training to inferencing, where everybody
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  Speaker 6: starts adopting and using more AI, that is going to
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  Speaker 6: require us to build these clusters very close to tier
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  Speaker 6: one tier to cities, because that is where the users
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  Speaker 6: are and that is where the consumption of AI is
• 9:36
  Speaker 6: going to occur.
• 9:38
  Speaker 3: You've mentioned security a couple times here. I can't even
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  Speaker 3: imagine the security risks of AI. I mean, it's better
• 9:45
  Speaker 3: enough to have somebody's account hacked, but if you're going
• 9:47
  Speaker 3: to have some of these AI agents taking over the
• 9:51
  Speaker 3: world here, I'm thinking Arnold Schwarzenegger type stuff here, they
• 9:54
  Speaker 3: could get bad at there. How do you think about
• 9:57
  Speaker 3: what are the security conversations you're having with your clients.
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  Speaker 6: We This conversation I have with my clients is are
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  Speaker 6: you using AI to make your security better?
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  Speaker 5: And that, I think is the more important part.
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  Speaker 3: Are They?
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  Speaker 5: Majority of them are not?
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  Speaker 6: And that's what we do first, is we use AI
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  Speaker 6: to actually make your security better, and then we use
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  Speaker 6: security in everything you do with AI. So when you
• 10:20
  Speaker 6: start doing that, you automatically improve the trust factor within
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  Speaker 6: every enterprise.
• 10:26
  Speaker 2: If you had to give one piece of advice to
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  Speaker 2: the folks attending this conference, investors, developers who are trying
• 10:32
  Speaker 2: to understand how AI fits into what they've built up,
• 10:35
  Speaker 2: what they have been working on, what would it be.
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  Speaker 6: I think the first one would be AI is only
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  Speaker 6: going to grow from here, and it is very real,
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  Speaker 6: and every enterprise is going to adopt AI at a
• 10:47
  Speaker 6: much more faster pace than they did with the Internet,
• 10:50
  Speaker 6: than they did with the mobile, than they did.
• 10:52
  Speaker 5: With the cloud.
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  Speaker 6: We're at a very starting stage of this, so the
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  Speaker 6: infrastructure required to build.
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  Speaker 5: This AI is going to be a massive investment.
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  Speaker 6: Think of it like the electrical infrastructure we built in
• 11:03
  Speaker 6: the last hundred plus years in the world, the transport
• 11:06
  Speaker 6: infrastructure we've.
• 11:07
  Speaker 5: Built in the last hundred years in the world.
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  Speaker 6: EI should be thought of the same way in terms
• 11:11
  Speaker 6: of the infrastructure built out.
• 11:13
  Speaker 3: Stay with us. More from Bloomberg Intelligence coming up after this.
• 11:20
  Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
• 11:24
  Speaker 1: weekdays at ten am Eastern on Apple Cocklay and Android
• 11:27
  Speaker 1: Auto with the Bloomberg Business app. Listen on demand wherever
• 11:30
  Speaker 1: you get your podcasts, or watch us live on YouTube.
• 11:34
  Speaker 3: We're broadcasting live from the Eisner Emperor West Coast Real
• 11:37
  Speaker 3: Estate Summit here in San Francisco. Before we laeve, I
• 11:39
  Speaker 3: gotta get some credit to Sebastian or technical director, get
• 11:42
  Speaker 3: us all set up out here in San Francisco and
• 11:44
  Speaker 3: so smooth, and he makes it done. But now I
• 11:47
  Speaker 3: got to throw him under the bus big time. I
• 11:49
  Speaker 3: come in this morning, I say, hey, go make a
• 11:51
  Speaker 3: Starbucks run. What do you want here? We go listen
• 11:53
  Speaker 3: to this tall macha. I'm already done at that point.
• 11:57
  Speaker 3: Tall macha with banana cream, cold foam. Don't tell any
• 12:01
  Speaker 3: of my boys back home that I made that.
• 12:03
  Speaker 2: But you did?
• 12:03
  Speaker 3: You put anywhere and it came back. It looked actually
• 12:06
  Speaker 3: like okay, if you like green drinks in the morning.
• 12:08
  Speaker 3: I'm not sure how that works, but we're here in
• 12:10
  Speaker 3: San Francisco, happy to be heer. This is one of
• 12:11
  Speaker 3: my favorite towns, always has been. When people come from
• 12:14
  Speaker 3: Europe and say, hey, I got three or four weeks
• 12:16
  Speaker 3: with the family. Where am I going on? I say,
• 12:17
  Speaker 3: you do to Vegas and New York whatever? You have
• 12:19
  Speaker 3: to spend three or four days in the Beyer hang
• 12:21
  Speaker 3: out in San Francisco. That's how cool this part of
• 12:22
  Speaker 3: the world is ned single Joints is here, Chief of
• 12:24
  Speaker 3: Housing and Economic Development for the City and County of
• 12:27
  Speaker 3: San Francisco. Then, thanks so much for joining us here.
• 12:31
  Speaker 7: Good morning, Thanks for having me.
• 12:33
  Speaker 3: Tell us how you guys, when you came into office
• 12:37
  Speaker 3: and he looked at the city in the County of
• 12:38
  Speaker 3: San Francisco, what was your to do list to get
• 12:41
  Speaker 3: the city back?
• 12:43
  Speaker 7: Well, First of all, San Francisco is the most beautiful
• 12:45
  Speaker 7: city in the world, I agreed. Second, we have this
• 12:48
  Speaker 7: incredible mindset of innovation and anything as possible with a
• 12:53
  Speaker 7: culture that is so much bigger than our footprint of
• 12:56
  Speaker 7: eight hundred and fifty thousand people, and so we have
• 12:58
  Speaker 7: all of the tools available to us to realize our potential.
• 13:03
  Speaker 7: And the last year and a half have really been
• 13:04
  Speaker 7: about making it easier for people to do the things
• 13:07
  Speaker 7: that they're best at in San Francisco, cleaning up the streets,
• 13:11
  Speaker 7: making this a safe, great place to raise a family.
• 13:15
  Speaker 7: And so the list always starts with clean and safe
• 13:19
  Speaker 7: because that's foundational to so many the things that we do,
• 13:21
  Speaker 7: whether it's for a company or for a family.
• 13:25
  Speaker 5: And then we think about the.
• 13:26
  Speaker 7: Mental health and drug crises on our streets, and then
• 13:29
  Speaker 7: we think about our economy and all the things we
• 13:31
  Speaker 7: need to do to revitalize our economy, and we feel
• 13:33
  Speaker 7: like we're on a really good start.
• 13:34
  Speaker 2: You work very closely with the new mayor, Dan Lourie,
• 13:37
  Speaker 2: and he has made permitting reform a big, big issue.
• 13:40
  Speaker 2: And this has to do with how easy or in
• 13:44
  Speaker 2: San Francisco's case, how difficult it's been for a small
• 13:46
  Speaker 2: business to open a business, to just be able to
• 13:49
  Speaker 2: get stuff done.
• 13:50
  Speaker 3: What did it look like before?
• 13:51
  Speaker 2: What does it look like now?
• 13:53
  Speaker 7: Well, I'd say we've changed it in two ways. One
• 13:55
  Speaker 7: is there's clearly a mindset in city Hall from people
• 13:58
  Speaker 7: who've been there for decades and those of us who've
• 14:00
  Speaker 7: only been there for a small amount of time, that
• 14:02
  Speaker 7: we want to fix the small problems and make it easier.
• 14:05
  Speaker 7: And that message has become crystal clear to small businesses.
• 14:08
  Speaker 7: So they come to us with ideas they open a
• 14:10
  Speaker 7: business or a second store that they may not have
• 14:13
  Speaker 7: before because they know that we're on their side and
• 14:15
  Speaker 7: that we're trying to help them. That mindset has helped tremendously.
• 14:18
  Speaker 7: It's not enough, though we've passed twenty pieces of legislation
• 14:21
  Speaker 7: to make it easier to build housing and to start
• 14:24
  Speaker 7: or run a small business. Now get this. If you
• 14:27
  Speaker 7: want to paint your logo on the window of your store,
• 14:30
  Speaker 7: you don't need a permit anymore. I know it sounds
• 14:33
  Speaker 7: like something maybe you didn't need a permit for before,
• 14:35
  Speaker 7: but now you don't need a permit for it today.
• 14:37
  Speaker 7: If you want to put tables and chairs outside your
• 14:40
  Speaker 7: bar or restaurant, you don't need to come see us
• 14:43
  Speaker 7: once a year when you should be at your bar restaurant,
• 14:46
  Speaker 7: and you don't need to pass twenty five hundred dollars
• 14:49
  Speaker 7: a year for that permit. Those are two great examples,
• 14:52
  Speaker 7: but there's so many more of where we're just knocking
• 14:55
  Speaker 7: down challenges that we put in front of people. These
• 14:58
  Speaker 7: things were all there through good intent. There were too
• 15:00
  Speaker 7: many of them, and were trying to remove as many
• 15:02
  Speaker 7: of them as we can.
• 15:02
  Speaker 3: It's funny you mentioned you out there diningis my cab,
• 15:05
  Speaker 3: my uber coming in. I did not take the way moo.
• 15:07
  Speaker 5: I tried it.
• 15:09
  Speaker 3: Take my uber coming in. I saw people sitting outside
• 15:11
  Speaker 3: with the lights out, in the restaurant's habits, out there,
• 15:13
  Speaker 3: sitting where you used to that in the city. And yes, city, Yes,
• 15:15
  Speaker 3: I hadn't seen that before too often in San Francisco.
• 15:17
  Speaker 3: It's kind of too cold for that.
• 15:19
  Speaker 7: You know, you're telling me it's colder in San Francisco
• 15:22
  Speaker 7: than it is in New York.
• 15:25
  Speaker 3: Because of the month of the year. It is, no
• 15:27
  Speaker 3: it's you know, the coldest winter I ever spent was
• 15:28
  Speaker 3: the summer I spent sat That's cool. Talk to us
• 15:31
  Speaker 3: about just the business community here. AI has been such
• 15:35
  Speaker 3: a big development globally, but boy, the epicenter's right here
• 15:39
  Speaker 3: in San Francisco.
• 15:40
  Speaker 5: Isn't it.
• 15:40
  Speaker 7: It really is right here in San Francisco. It's incredible
• 15:43
  Speaker 7: that you can walk just a few blocks from where
• 15:44
  Speaker 7: we are today and those companies that you hear about
• 15:47
  Speaker 7: changing the world wherever you are in the world, uh,
• 15:51
  Speaker 7: they are right here, and their employees are living here,
• 15:55
  Speaker 7: they are going to dinner here, they are raising families here,
• 15:58
  Speaker 7: and the mayor, myself and others, we're also asked them
• 16:00
  Speaker 7: to be a part of helping San Francisco realize its
• 16:04
  Speaker 7: potential if that means chipping in, whether it's through volunteering
• 16:06
  Speaker 7: or contributing capital to some of the real opportunities that
• 16:09
  Speaker 7: we see for public private partnerships as well.
• 16:12
  Speaker 2: So it's not just office demand that gets a lot
• 16:15
  Speaker 2: of the headlines, but it's also conventions towardsm the visitor's economy.
• 16:19
  Speaker 3: Paul and I are here.
• 16:19
  Speaker 2: We're spending money at the Four Seasons of Marcadero.
• 16:22
  Speaker 3: We're spending money in the city.
• 16:23
  Speaker 2: Today, we're attending the eiser ampor West Coast Real Estate Summit.
• 16:27
  Speaker 3: What is that like to try to get.
• 16:29
  Speaker 2: Companies to get back in here and commit to building
• 16:33
  Speaker 2: up a presence again in San Francisco. How's that different
• 16:36
  Speaker 2: from building affordable housing and reducing the red tape for
• 16:39
  Speaker 2: small businesses.
• 16:40
  Speaker 7: Well, it's all linked. Those same things that you do
• 16:43
  Speaker 7: for small businesses or for families to make it use
• 16:45
  Speaker 7: that I have a home, those ladder up to the
• 16:47
  Speaker 7: work for businesses as well, because if you run a
• 16:49
  Speaker 7: big company and your team can't live in the city
• 16:53
  Speaker 7: where you operate, that's hard for them and they're going
• 16:57
  Speaker 7: to choose to be somewhere else. If there aren't restaurants
• 16:59
  Speaker 7: and small businesses to patronize, they're not going to want
• 17:02
  Speaker 7: to have their employees come downtown. They're not going to
• 17:04
  Speaker 7: ask them to come back five days a week. So,
• 17:06
  Speaker 7: first of all, that work is really important. But second
• 17:08
  Speaker 7: of all, just as we were talking about small businesses
• 17:11
  Speaker 7: where we need to be cheerleaders, we need the big
• 17:14
  Speaker 7: companies to know that we are open for business and
• 17:16
  Speaker 7: we're open for feedback. We're on the phone with them
• 17:19
  Speaker 7: all the time. We're touring them around downtown hand in hand,
• 17:23
  Speaker 7: showing them the progress that we've made and talking about
• 17:26
  Speaker 7: the work that's still in front of us. And then
• 17:28
  Speaker 7: we're talking about how we know we need to be principled, predictable,
• 17:32
  Speaker 7: and transparent, whether it's around our tax code, or our
• 17:35
  Speaker 7: permitting processes, or what all the things that ladder up
• 17:39
  Speaker 7: to them running a big, successful company here. We've always
• 17:42
  Speaker 7: been a place where people start start companies. Over time
• 17:47
  Speaker 7: we tend to export those companies. We need them to
• 17:49
  Speaker 7: be comfortable that this is a great place not just
• 17:51
  Speaker 7: to start, but to stay for a really long time.
• 17:53
  Speaker 3: About affordability thirty seconds left. That's a big issue talked
• 17:56
  Speaker 3: to about how you're approaching affordability.
• 17:58
  Speaker 7: Well, we pass something called the Families Zone in December.
• 18:01
  Speaker 7: The mayor signed it in January. This is a roadmap
• 18:03
  Speaker 7: to build more height on transit corridors and denser in neighborhoods.
• 18:09
  Speaker 7: We need a lot more people to live in San Francisco.
• 18:11
  Speaker 7: Dan Doctoroff, who had a job like mine in New York,
• 18:14
  Speaker 7: he said to me once, he said, if the city
• 18:15
  Speaker 7: isn't growing, it's dying. And we know that we need
• 18:18
  Speaker 7: a roadmap for people to build against and that will
• 18:20
  Speaker 7: ladder up to affordability over time.
• 18:23
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• 18:28
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• 18:32
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• 18:35
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• 18:39
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• 18:43
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