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Instead of a new multibillion-dollar campus, Microsoft is investing $500m into affordable housing in the Seattle area.
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The Hustle
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Editor's note: Its MLK weekend, so we'll be running our typical Sunday feature on Monday. See you back here Monday morning.
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<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Instead of building a new campus, Microsoft will spend $500m on affordable housing
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Microsoft pledged to invest
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
$500m
</a>
in building affordable housing units near its headquarters in the Seattle area. Like other tech hubs, Seattle has struggled to build enough CrossFit studios for new residents
<em>
and
</em>
enough affordable housing for existing residents.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
To accommodate growing workforces, other tech giants have simply built
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
private city centers
</a>
(in the form of multibillion-dollar campuses) and
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
private transportation systems
</a>
. But Microsoft is trying a different approach -- investing in the city that was already there.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
This city ain’t got enough Wi-Fi for both of us
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Seattle is the rain-soaked poster child for tech’s housing problem: The influx of Microsoft’s
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
42k
</a>
employees and Amazon’s
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
25k
</a>
employees has caused home prices to nearly double in the past 8 years.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
A December report indicates that the Seattle area needs 156k more affordable units to put roofs over all its heads.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
To address the problem, Microsoft will invest in housing that even
<em>
non
</em>
-Microsoft employees can afford -- spending $225m on middle-income housing, $250m on low-income housing, and $25m on homelessness over the next 3 years.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
An innovative solution to homelessness: Homes
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Many other tech giants have also disrupted local real estate markets: Amazon in Seattle, Salesforce in San Francisco, and Google and Facebook in the Bay Area.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, for the most part, these companies have chipped in relatively small amounts to help cities
<em>
increase homeless services
</em>
instead of
<em>
decreasing homelessness
</em>
itself, while prioritizing projects like the extravagant Salesforce tower or the Frank Gehry-designed Facebook campus.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Microsoft’s affordable housing initiative could help the homeless... before they’re homeless.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
You can’t have a private campus without a public square
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Seattle isn’t the only city drowning in highly paid tech workers: Amazon is building facilities for
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
50k
</a>
workers in NYC and DC, Apple is creating space for
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
15k
</a>
employees in Austin, and Google plans to create offices for an additional
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
12k
</a>
in NYC.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
As other tech companies steamroll through new real estate markets, Microsoft’s initiative shows the importance of investing in a community, not just a campus.
</p>
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<td align="center" id="link" style="font-family: 'Courier New',courier,monospace; font-size: 26px; line-height: 120%; padding: 15px 0; text-align: center;">
Housing by Microsoft
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<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Relativity Space won permission to lease a government launch pad on Cape Canaveral
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Last March, Nasa
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
announced
</a>
it would give the venture-backed rocket startup Relativity Space access to the Stennis Space Center in Mississippi to use as its testing facility… free of charge.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Now, the 3D printing rocket company has
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
won permission
</a>
from the Air Force to launch from Cape Canaveral Florida -- the same storied launch base that shot Apollo 11 into orbit in ’69.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Living the space company dream
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Rocket talk these days usually consists of SpaceX, Blue Origin or bust. But Relativity Space (started by ex-Blue Origin and SpaceX engineers) and its unique business model have orbited investor attention.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
While SpaceX views reusability as the key to lowering costs of space access, Relativity relies on automated 3-D printing to simplify manufacturing time and cost of parts.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Now, after Relativity raised $45m from VCs, the US Air Force has awarded the company a multi-year contract to build and operate its launch facilities at Cape Canaveral -- the organization’s
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
first direct agreement
</a>
with a privately funded launch company.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
The real work begins
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Relativity hopes to launch into low-orbit by 2020, and according to CEO Tim Ellis, the company already has over $1B in launches scheduled.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, as
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
<em>
Axios
</em>
</a>
reports, it has yet to launch its rocket into space, putting it years behind companies like SpaceX and Blue Origin that call Cape Canaveral launch-home.
</p>
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@ Me Anything
</td>
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<a style="color: #ed4d1f; text-decoration: none;">
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</a>
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<a style="color: #ed4d1f; text-decoration: none;">
<span style="color: #000000; font-size: 16px; font-weight: bold;">
Wes Schlagenhauf
</span>
<span style="color: #000000; font-size: 16px;">
, News Writer at The Hustle
</span>
<br/>
<span style="color: #657786; font-size: 14px;">
@wesschlagenhauf
</span>
</a>
<br/>
First Nasa, now the US Air Force. Next, I assume, will be a peace offering from the Klingon empire.
<br/>
<a style="color: #ed4d1f; text-decoration: none;">
Show this thread
</a>
</td>
</tr>
</table>
</td>
</tr>
<tr>
<td style="padding-top: 10px;">
</td>
</tr>
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»
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<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
Let’s all break for launch
</a>
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</td>
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<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
SeeTree plants $11.5m in funding to help farmers keep digital tabs on their orchards
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
SeeTree, a startup that collects data on trees using drones and AI to help farmers manage their orchards, raised an $11.5m Series A yesterday.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Per
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
<em>
TechCrunch
</em>
</a>
, this brings the company’s total funding to $15m.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
It’s called “precision agriculture,” people!
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
After decades of barking up the wrong tree trying to perfect precision agriculture, SeeTree has finally developed what it calls “the world’s first intelligence network for trees.”
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
By using drone imagery, underground sensors, and data samplers on the ground for closer analysis, SeeTree offers
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
“per-tree”
</a>
data for crop growers to digitally monitor their orchards.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Using the data, farmers can then replace their “underperformers,” AKA trees that suck at being trees.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Step into my office, Tree...
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Don’t get your roots in a bunch, it’s not all about ruling greenery with an iron fist.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Farmers can also map out
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
harvest plans
</a>
based on each tree’s development stage -- and then put those trees on performances improvement plans as needed.
</p>
</td>
</tr>
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»
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<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
Pay a fee, plant a tree
</a>
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</td>
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<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Ford plans to ride into the electric future in an F-150 that’s both fuel efficient
</strong>
<em>
<strong>
and
</strong>
</em>
<strong>
badass
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Yesterday, Ford
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
announced
</a>
that it will create all-electric versions of its classic F-series of trucks, including the best-selling F-150.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
After announcing last year that it would stop selling all but 2 US car models, Ford’s announcement proves it also has big plans to restructure its truck biz, which alone is worth
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
$70B
</a>
.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
The F-150 is a big F-in’ deal
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
This isn’t just any truck: The F-150 just happens to be the
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
best-selling vehicle
</a>
in the US 4 decades running.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But more importantly, the F-series accounts for more than ⅓ of Ford’s sales -- and an even higher percentage of its profits.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But so far, production of electric trucks hasn’t accelerated as fast as the production of electric cars -- and it’s still unclear how quickly Truck Junkies will follow in the tire tracks of Prius owners.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Will diehard F-150 fans go electric?
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Some of the most popular electric cars are sustainable (Prius) and even stylish (Teslas), but they don’t exactly prioritize the powertrain.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But Ford
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
says
</a>
its electric line will deliver both fuel efficiency and power, claiming it will be able to tow 5k pounds and perform as well as diesel and gas trucks.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Ford isn’t the only company working on an electric pickup: The startup Rivian has raised $450m to do the same and expects to start production by 2020. Tesla also claims to have an EV pickup in the works.
</p>
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Truck and pray
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friday flashback
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<h2 style="font-family: arial, sans-serif; font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 10px; margin-top: 26px;">
<strong>
Flashback to the week of October 19th, 1987
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 10px;">
Little known fact: The Hustle has been slingin’ news since the ‘80s. So when our friends at SHOWTIME® reached out to us about their new comedy series
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
<strong>
BLACK MONDAY
</strong>
</a>
, from executive producers Seth Rogen and Evan Goldberg, we dug into the archive and pulled out a newsletter from back in the day.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 10px;">
Set in 1987 NYC, BLACK MONDAY follows a team of underdog Wall Street traders (Don Cheadle, Andrew Rannells, and Regina Hall) who crash the world's largest financial system. In honor of that fateful week in American finance, here are the week’s headlines:
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
MONDAY: Dial-a-Porn comes to a home phone near you
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The week started relatively mundane with the New York Telephone company announcing it will be able to offer customers the ability to screen Dial-a-Porn and other ‘Dial-it’ offerings. Who knew Monday would be our favorite day?
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
TUESDAY: The Dow plunges 508 points in panic selling
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In true Thelma & Louise fashion, the Dow drove itself off a cliff Monday with a 22.6% loss -- the largest on record, placing the Dow at a cool 1,738.74. Despite the dip, the Dow remained up 124% since August 1982 (the beginning of the most recent bull market).
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
WEDNESDAY: Fed steps in, Dow gains 102 points
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Stock markets rebounded from Monday’s loss thanks to a little help from the parents upstairs. The Fed injected funds into the banking system to help ease interest rates and give banks a lifeline. With adults in the room, investors pumped the Dow to it’s largest single-day gain (102 points).
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
THURSDAY: Who let the Bulls out? Dow up 186
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Bargain-hunting investors in US, Tokyo, and London markets went on a buying spree Wednesday, boosting the Dow by 186 points -- overtaking the previous single-day record set a day earlier.
</p>
<h4 style="font-family: arial, sans-serif; font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
FRIDAY: Turnaround dashed, Dow’s woes are here to stay
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Not so fast, cowboy; these bulls are skittish. Investors reeled Thursday as the Dow fell by 77 points, halting the 2-day rally after Monday’s panic selling. Money continued to flow out of the stock market and into safer bonds and mutual funds.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
What was the cause of all this boom and gloom? Find out January 20th at 10 PM ET/PT for the premiere of
<a style="-webkit-text-fill-color: #ed4d1f; color: #ed4d1f; text-decoration: none;">
<strong>
BLACK MONDAY
</strong>
</a>
only on SHOWTIME®.
</p>
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shower thoughts
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<ol style="font-size: 16px;">
<li style="line-height: 120%; padding: 4px 0;">
Crispy is just crunchy but thin.
</li>
<li style="line-height: 120%; padding: 4px 0;">
The internet both almost killed off the postal service with email and then made it more needed than ever with online delivery.
</li>
<li style="line-height: 120%; padding: 4px 0;">
Pheromones are just body farts.
</li>
<li style="line-height: 120%; padding: 4px 0;">
Social Media is the “permanent record” we were warned about as kids.
</li>
<li style="line-height: 120%; padding: 4px 0;">
Where's Waldo?' would be much scarier if Waldo was the one searching for you.
</li>
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via
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Reddit
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Lindsey “I can’t a-Ford it” Quinn
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Nomar Whedon
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Astroturf Installer
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5 years, 4 months ago - news@thehustle.co
Microsoft invests $500m in affordable housing
Instead of a new multibillion-dollar campus, Microsoft is investing $500m into affordable housing...