125-619: Eat Just, Inc. is a private company headquartered in San Francisco, California , US. It develops and markets plant-based alternatives to conventionally produced egg products, as well as cultivated meat products. Eat Just was founded in 2011 by Josh Tetrick and Josh Balk . It raised about $ 120 million in early venture capital and became a unicorn in 2016 by surpassing a $ 1 billion valuation. It has been involved in several highly publicized disputes with traditional egg industry interests. In December 2020, its cultivated chicken meat became
250-560: A unicorn with a valuation of over $ 1 billion, but the amount of the funding was not disclosed. In June 2017, Target stopped selling Hampton Creek products after seeing an anonymous letter alleging food safety issues, such as Salmonella and Listeria at Eat Just's manufacturing facility. Target said none of its customers reported getting sick and an FDA investigation found no contaminants in Hampton Creek's products. Several of Hampton Creek's executives were fired in 2017, after
375-442: A 103-foot (31 m) tall cross built in 1934. Dominating this area is Sutro Tower , a large red and white radio and television transmission tower reaching 1,811 ft (552 m) above sea level. The nearby San Andreas and Hayward Faults are responsible for much earthquake activity, although neither physically passes through the city itself. The San Andreas Fault caused the earthquakes in 1906 and 1989. Minor earthquakes occur on
500-734: A 2023 estimated population of over 9 million. Prior to European settlement , the modern city proper was inhabited by the Yelamu , who spoke a language now referred to as Ramaytush Ohlone . On June 29, 1776, settlers from New Spain established the Presidio of San Francisco at the Golden Gate , and the Mission San Francisco de Asís a few miles away, both named for Francis of Assisi . The California gold rush of 1849 brought rapid growth, transforming an unimportant hamlet into
625-416: A GDP of $ 729 billion in 2022 . The wider San Jose–San Francisco–Oakland Combined Statistical Area is the nation's fifth-most populous, with around nine million residents, and the third-largest by economic output, with a GDP of $ 1.32 trillion in 2022 . In the same year, San Francisco proper had a GDP of $ 252.2 billion, and a GDP per capita of $ 312,000. San Francisco was ranked fifth in the world and second in
750-410: A basis for valuing a startup and finding a correct valuation for these companies. The sharing economy , also known as "collaborative consumption" or "on-demand economy", is based on the concept of sharing personal resources. This trend of sharing resources has made three of the top five largest unicorns ( Uber , DiDi , and Airbnb ) become the most valuable startups in the world. The economic trends of
875-578: A busy port, making it the largest city on the West Coast at the time; between 1870 and 1900, approximately one quarter of California's population resided in the city proper. In 1856, San Francisco became a consolidated city-county . After three-quarters of the city was destroyed by the 1906 earthquake and fire , it was quickly rebuilt, hosting the Panama–Pacific International Exposition nine years later. In World War II , it
1000-623: A common place to live for people employed in Silicon Valley companies such as Apple and Google . The early 2020s featured an exodus of tech companies from Downtown San Francisco in the wake of the COVID-19 pandemic and struggles with homelessness and public drug use. Although some observers have raised the possibility that office vacancies and declining tax revenues could cause San Francisco to enter an economic doom loop , other sources have refuted this broad-based characterization of
1125-422: A company can grow to needs to be realistic, especially when trying to get venture capital firms to give the valuation a company wants. Venture capitalists know the payout on their investment will not be realized for another five to ten years, and they want to make sure from the start that financial forecasts are realistic. With the financial forecasts set, investors need to know what the company should be valued in
1250-404: A company or not, they look for signs of a home run to make exponential returns on their investment along with the right personality that fits the company. To give such high valuations in funding rounds, venture capital firms have to believe in the vision of both the entrepreneur and the company as a whole. They have to believe the company can evolve from its unstable, uncertain present standing into
1375-420: A company that can generate and sustain moderate growth in the future. To judge the potential future growth of a company, there needs to be an in-depth analysis of the target market. When a company or investor determines its market size, there are a few steps they need to consider to figure out how large the market really is: After the market is reasonably estimated, a financial forecast can be made based on
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#17327838872771500-647: A flood of treasure seekers (known as "forty-niners," as in "1849"). With their sourdough bread in tow, prospectors accumulated in San Francisco over rival Benicia , raising the population from 1,000 in 1848 to 25,000 by December 1849. The promise of wealth was so strong that crews on arriving vessels deserted and rushed off to the gold fields, leaving behind a forest of masts in San Francisco harbor. Some of these approximately 500 abandoned ships were used at times as storeships , saloons , and hotels; many were left to rot, and some were sunk to establish title to
1625-458: A fort on Alcatraz Island to secure San Francisco Bay. San Francisco County was one of the state's 18 original counties established at California statehood in 1850. Until 1856, San Francisco's city limits extended west to Divisadero Street and Castro Street, and south to 20th Street. In 1856, the California state government divided the county. A straight line was then drawn across the tip of
1750-484: A gourmet marketplace. San Francisco has a warm-summer Mediterranean climate ( Köppen : Csb , Trewartha : Csll), characteristic of California's coast, with moist winters and dry summers. San Francisco's weather is strongly influenced by the cool currents of the Pacific Ocean on the west side of the city, and the water of San Francisco Bay to the north and east. This moderates temperature swings and produces
1875-440: A higher valuation; they can just go back to their investors for more capital. IPOs also run the risk of devaluation of a company if the public market thinks a company is worth less than its investors. A few recent examples of this situation were Square , best known for its mobile payments and financial services business, and Trivago , a popular German hotel search engine, both of which were priced below their initial offer prices by
2000-627: A hitman to kill the Hampton Creek CEO. The United States Department of Agriculture opened an investigation and the CEO of the Egg Board resigned. Then, in 2016, a Bloomberg story reported on evidence inferring that Hampton Creek bought its own products off of store shelves in order to inflate sales numbers during fund-raising. Hampton Creek said this was part of an unorthodox quality control program. The Securities and Exchange Commission and
2125-566: A large African American population after World War II . The Western Addition is usually divided into smaller neighborhoods including Hayes Valley , the Fillmore , and Japantown , which was once the largest Japantown in North America but suffered when its Japanese American residents were forcibly removed and interned during World War II. The Western Addition survived the 1906 earthquake with its Victorians largely intact, including
2250-599: A magnet for America's counterculture movement . Beat Generation writers fueled the San Francisco Renaissance and centered on the North Beach neighborhood in the 1950s. Hippies flocked to Haight-Ashbury in the 1960s, reaching a peak with the 1967 Summer of Love . In 1974, the Zebra murders left at least 16 people dead. In the 1970s, the city became a center of the gay rights movement , with
2375-482: A partner at venture capital firm Benchmark , predicted in March 2015 and earlier that the rapid increase in the number of unicorns may "have moved into a world that is both speculative and unsustainable", that will leave in its wake what he terms "dead unicorns". Also he said that the main reason of unicorns' valuation is the "excessive amount of money" available for them. Similarly, in 2015 William Danoff , who manages
2500-440: A port and naval base, post-Conquest San Francisco was still a small settlement with inhospitable geography. Situated at the tip of a windswept peninsula without water or firewood, San Francisco lacked most of the basic facilities for a 19th-century settlement. These natural disadvantages forced the town's residents to bring water, fuel and food to the site. Its 1847 population was said to be 459. The California gold rush brought
2625-424: A regular basis. The threat of major earthquakes plays a large role in the city's infrastructure development. The city constructed an auxiliary water supply system and has repeatedly upgraded its building codes, requiring retrofits for older buildings and higher engineering standards for new construction. However, there are still thousands of smaller buildings that remain vulnerable to quake damage. USGS has released
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#17327838872772750-488: A remarkably mild year-round climate with little seasonal temperature variation. Unicorn (finance) In business, a unicorn is a startup company valued at over US$ 1 billion which is privately owned and not listed on a share market. The term was first published in 2013, coined by venture capitalist Aileen Lee , choosing the mythical animal to represent the statistical rarity of such successful ventures. Many unicorns saw their valuations fall in 2022 as
2875-433: A result of an economic slowdown caused by the COVID-19 pandemic , an increase in interest rates causing the cost of borrowing to grow, increased market volatility , stricter regulatory scrutiny and underperformance. CB Insights identified 1,248 unicorns worldwide as of May 2024 . Unicorns with over $ 10 billion in valuation have been designated as " decacorn " companies. For private companies valued over $ 100 billion,
3000-603: A significant portion of the Comstock Lode 's gold and silver mines, establishing a virtual monopoly. Using his incredible clout, Ralston was able to generate millions of dollars for San Francisco during its heady boom years. He founded the Bank of California , the first bank in the Western United States, and built the opulent Palace Hotel, a symbol of San Francisco's newfound prosperity and the largest hotel in
3125-528: A spacious public park, resulting in plans for Golden Gate Park . San Franciscans built schools, churches, theaters, and all the hallmarks of civic life. The Presidio developed into the most important American military installation on the Pacific coast. By 1890, San Francisco's population approached 300,000, making it the eighth-largest city in the United States at the time. Around 1901, San Francisco
3250-589: A start-up company's valuation is derived from its growth opportunities and its expected development in the long-term for its potential market. Valuations for unicorns usually result from funding rounds of large venture capital firms investing in a start-up company. Another significant final valuation of start-ups is when a much larger company buys out a company, giving it that valuation; some examples are Unilever buying Dollar Shave Club and Facebook buying Instagram for $ 1 billion each, effectively turning Dollar Shave Club and Instagram into unicorns. Bill Gurley ,
3375-498: A substitute for scrambled eggs called Just Egg that is made from mung beans . It released a frozen version in January 2020. In late 2017, Eat Just announced it was developing a cultivated meat product to make chicken nuggets. The meat is grown in a bioreactor in a fluid of amino acids , sugar, and salt. The chicken nuggets are 70% cultivated meat, while the remainder is made from mung bean proteins and other ingredients. The company
3500-693: A technology company before it goes public is 11 years, as opposed to an average life of 4 years back in 1999. This new dynamic stems from the increased amount of private capital available to unicorns and the passing of the US's Jumpstart Our Business Startups (JOBS) Act in 2012, which increased by a factor of four the number of shareholders a company can have before it has to disclose its financials publicly. The amount of private capital invested in software companies has increased three-fold from 2013 to 2015. Through many funding rounds, companies do not need to go through an initial public offering (IPO) to obtain capital or
3625-484: A wave of " Manhattanization " that lasted until the late 1980s, a period of extensive high-rise development downtown. The 1980s also saw a dramatic increase in the number of homeless people in the city, an issue that remains today, despite many attempts to address it. The 1989 Loma Prieta earthquake caused destruction and loss of life throughout the Bay Area. In San Francisco, the quake severely damaged structures in
3750-530: Is a network of peers creating value through interaction and sharing. Network orchestrators may sell products/services, collaborate, share reviews, and build relations through their businesses. Examples of network orchestrators include all sharing economy companies, companies that let consumers share information, and peer-to-peer or business-to-person selling platforms. The following is a list by Dutch research company dealroom: in 2023 since 2019 Unicorns per 1 million people: in 2023 since 2019 A minicorn
3875-401: Is a startup with a valuation that exceeds $ 1 million. These are startups post product-market fit and with substantial revenue growth. A soonicorn is a startup that is growing quickly and has the potential to reach $ 1 billion valuation in the near future. A decacorn is a startup with a valuation above $ 10 billion. A hectocorn is a rare term, typically used to describe startups with
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4000-643: Is also working on cultivated Japanese Wagyu beef . Cultured, also known as cultivated or cell-based meat, cannot be sold commercially until it is allowed by government regulators. In December 2020, the Government of Singapore approved cultivated meat created by Eat Just, branded as GOOD Meat. A restaurant in Singapore called 1880 became the first place to sell Eat Just's cultured meat. Eat Just subsequently got additional approvals for different types of chicken products, such as shredded and breast chicken. In 2023,
4125-475: Is best known for its plant-based JUST Egg made from mung beans . According to Eat Just, the company has made the equivalent of 100 million eggs worth of food products as of March 2021. The company's egg substitutes are developed by finding plant proteins that serve a function eggs are normally used for, such as binding or emulsifying . For example, plant proteins are analyzed for molecular weight, amino acid sequences, and performance under heat or pressure. Much of
4250-494: Is essentially their original form, but most of the city's natural watercourses, such as Islais Creek and Mission Creek , have been partially or completely culverted and built over. Since the 1990s, however, the Public Utilities Commission has been studying proposals to daylight or restore some creeks. An Historical Center of San Francisco monument, where the 1899–1906 City Hall was once located,
4375-408: Is gone." Rebuilding was rapid and performed on a grand scale. Rejecting calls to completely remake the street grid, San Franciscans opted for speed. Amadeo Giannini 's Bank of Italy , later to become Bank of America , provided loans for many of those whose livelihoods had been devastated. The influential San Francisco Planning and Urban Research Association or SPUR was founded in 1910 to address
4500-583: Is in United Nations Plaza , at 37°46′48″N 122°24′49″W / 37.7800397°N 122.4135943°W / 37.7800397; -122.4135943 The earliest center of San Francisco is Portsmouth Square , in the northeast quadrant of the city anchored by Market Street and the waterfront. Here in the northeast quadrant, the Financial District is centered, with Union Square , the principal shopping and hotel district, and
4625-499: Is the fourth-most populous city in the U.S. state of California behind Los Angeles , San Diego , and San Jose . It covers a land area of 46.9 square miles (121 square kilometers) at the upper end of the San Francisco Peninsula , making it the second-most densely populated major U.S. city behind New York City and the fifth-most densely populated U.S. county , behind four of New York City's boroughs . Among
4750-638: The Bear Flag Revolt in Sonoma and the beginning of the U.S. Conquest of California , American forces from the USS Portsmouth under the command of John B. Montgomery captured Yerba Buena on July 9, 1846, with little resistance from the local Californio population, raising the American flag over Yerba Buena plaza (later renamed Portsmouth Square in commemoration of this event). Following
4875-578: The California earthquake forecast which models earthquake occurrence in California. San Francisco's shoreline has grown beyond its natural limits. Entire neighborhoods such as the Marina , Mission Bay , and Hunters Point , as well as large sections of the Embarcadero , sit on areas of landfill . Treasure Island was constructed from material dredged from the bay as well as material resulting from
5000-463: The Department of Justice started an inquiry that was closed in March 2017 after concluding the allegations were insignificant. By 2016, Eat Just had 142 employees. Late that year, it also substantially expanded its laboratory testing of prospective plant proteins, using robots and automation. In August 2016, Hampton Creek raised another round of funding from investors. The funding made the company
5125-560: The Fidelity Contrafund , said unicorns might be "going to lose a bit of luster" due to their more frequent occurrence and several cases of their stock price being devalued. Research by Stanford professors published in 2018 suggests that unicorns are overvalued by an average of 48%. For high-growth companies looking for the highest valuations possible, it comes down to potential and opportunity. When investors of high-growth companies are deciding on whether they should invest in
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5250-661: The Food and Drug Administration sent a warning letter saying the Just Mayo name was misleading to consumers, since the product must contain real eggs to be called "mayonnaise." In December 2015, Hampton Creek reached an agreement with the FDA to make it more clear in the Just Mayo packaging that it does not contain real eggs. Publicity from the lawsuit and an egg shortage from the avian bird flu helped Hampton Creek grow. In late 2015, several former employees anonymously alleged Hampton Creek
5375-838: The Golden Gate Bridge , cable cars , and Alcatraz . The city is home to a number of educational and cultural institutions, such as the University of California, San Francisco , the University of San Francisco , San Francisco State University , the San Francisco Conservatory of Music , the de Young Museum , the San Francisco Museum of Modern Art , the San Francisco Symphony , the San Francisco Ballet ,
5500-501: The Marina and South of Market districts and precipitated the demolition of the damaged Embarcadero Freeway and much of the damaged Central Freeway , allowing the city to reclaim The Embarcadero as its historic downtown waterfront and revitalizing the Hayes Valley neighborhood. The two recent decades have seen booms driven by the internet industry. During the dot-com boom of the late 1990s, startup companies invigorated
5625-848: The San Francisco Opera , the SFJAZZ Center , and the California Academy of Sciences . Two major league sports teams, the San Francisco Giants and the Golden State Warriors , play their home games within San Francisco proper. San Francisco International Airport (SFO) offers flights to over 125 destinations, while a light rail and bus network , in tandem with the BART and Caltrain systems, connects nearly every part of San Francisco with
5750-501: The Tenderloin nearby. Cable cars carry riders up steep inclines to the summit of Nob Hill , once the home of the city's business tycoons, and down to the waterfront tourist attractions of Fisherman's Wharf , and Pier 39 , where many restaurants feature Dungeness crab from a still-active fishing industry. Also in this quadrant are Russian Hill , a residential neighborhood with the famously crooked Lombard Street ; North Beach ,
5875-466: The 1910s, a wave of Central American immigrants settled in the Mission and, in the 1950s, immigrants from Mexico began to predominate. In recent years, gentrification has changed the demographics of parts of the Mission from Latino, to twenty-something professionals. Noe Valley to the southwest and Bernal Heights to the south are both increasingly popular among young families with children. East of
6000-534: The 2010s powered consumers to learn to be more conservative with spending and the sharing economy reflected this. E-commerce and the innovation of the online marketplace have been slowly taking over the needs for physical locations of store brands. A prime example of this is the decline of malls within the United States, the sales of which declined from $ 87.46 billion in 2005 to $ 60.65 billion in 2015. The emergence of e-commerce companies like Amazon and Alibaba (both unicorns before they went public) has decreased
6125-409: The 92 U.S. cities proper with over 250,000 residents, San Francisco is ranked first by per capita income and sixth by aggregate income as of 2022. San Francisco anchors the 13th most populous metropolitan statistical area in the United States , with almost 4.6 million residents in 2023. The larger San Jose–San Francisco–Oakland combined statistical area , the fifth-largest urban region in the U.S., had
6250-535: The Bay Area a center for trade. Catering to the needs and tastes of the growing population, Levi Strauss opened a dry goods business and Domingo Ghirardelli began manufacturing chocolate. Chinese immigrants made the city a polyglot culture, drawn to "Old Gold Mountain," creating the city's Chinatown quarter. By 1880, Chinese made up 9.3% of the population. The first cable cars carried San Franciscans up Clay Street in 1873. The city's sea of Victorian houses began to take shape, and civic leaders campaigned for
6375-705: The Birdman of Alcatraz. San Francisco later celebrated its regained grandeur with a World's fair , the Golden Gate International Exposition in 1939–40, creating Treasure Island in the middle of the bay to house it. During World War II , the city-owned Sharp Park in Pacifica was used as an internment camp to detain Japanese Americans . Hunters Point Naval Shipyard became a hub of activity, and Fort Mason became
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#17327838872776500-522: The Mission is the Potrero Hill neighborhood, a mostly residential neighborhood that features sweeping views of downtown San Francisco. West of the Mission, the area historically known as Eureka Valley , now popularly called the Castro , was once a working-class Scandinavian and Irish area. It has become North America's first gay village , and is now the center of gay life in the city. Located near
6625-731: The Outer Richmond and Outer Sunset can refer to the more western portions of their respective district and the Inner Richmond and Inner Sunset can refer to the more eastern portions. Many piers remained derelict for years until the demolition of the Embarcadero Freeway reopened the downtown waterfront, allowing for redevelopment. The centerpiece of the port, the Ferry Building , while still receiving commuter ferry traffic, has been restored and redeveloped as
6750-531: The Presidio garrison, commanded by Mariano Vallejo , relocated to the Presidio of Sonoma , which was regarded as needing a greater military presence due the proximity of the Russian settlement at Fort Ross . Only a small detachment remained at the Presidio of San Francisco. Mission Dolores sold most of its property in 1836, retaining only the church and related structures. In 1833, Juana Briones de Miranda
6875-709: The San Francisco Peninsula just north of San Bruno Mountain . Everything south of the line became the new San Mateo County while everything north of the line became the new consolidated City and County of San Francisco. The California Gold Rush triggered a wave of entrepreneurial activity as individuals sought to capitalize on the newfound wealth. The discovery of silver deposits, notably the Comstock Lode in Nevada in 1859, further fueled rapid population growth and economic expansion. San Francisco, as
7000-457: The San Francisco economy. Large numbers of entrepreneurs and computer application developers moved into the city, followed by marketing, design, and sales professionals, changing the social landscape as once poorer neighborhoods became increasingly gentrified . Demand for new housing and office space ignited a second wave of high-rise development, this time in the South of Market district. By 2000,
7125-510: The Spanish ship San Carlos , commanded by Juan Manuel de Ayala , became the first ship to anchor in the bay. Soon after, on March 28, 1776, Anza established the Presidio of San Francisco . On October 9, Mission San Francisco de Asís , also known as Mission Dolores, was founded by Padre Francisco Palóu . In 1794, the Presidio established the Castillo de San Joaquín , a fortification on
7250-535: The U.S. market that many of these companies want to avoid. Startups have capitalized on the rapid growth of new technology to obtain unicorn status. With the advent of social media and access to millions utilizing this technology to gain massive economies of scale , startups have the ability to expand their business faster than ever. The valuations that designate start-up companies as unicorns and decacorns differ from established companies. A valuation for an established company stems from past years' performances, while
7375-501: The United States on the Global Financial Centres Index as of September 2023 . Despite a continuing exodus of businesses from the downtown area of San Francisco, the city is still home to numerous companies inside and outside of technology, including Salesforce , Uber , Airbnb , X , Levi's , Gap , Dropbox , and Lyft . In 2022, San Francisco had more than 1.7 million international visitors –
7500-464: The area. Further development is taking place just to the south in Mission Bay area, a former railroad yard, which now has a second campus of the University of California, San Francisco and Chase Center , which opened in 2019 as the new home of the Golden State Warriors . West of downtown, across Van Ness Avenue , lies the large Western Addition neighborhood, which became established with
7625-507: The arts and sciences, spurred by leading universities , high-tech , healthcare, finance, insurance, real estate, and professional services sectors. As of 2020 , the metropolitan area, with 4.5 million residents, ranked 5th by GDP ($ 874 billion) and 2nd by GDP per capita ($ 131,082) across the OECD countries, ahead of global cities like Paris , London , and Singapore . It is the fourth-largest by aggregate income and economic output, with
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#17327838872777750-597: The beginning of the assimilation of the Ramaytush people, and the decline of their language and culture. The Spanish Empire claimed San Francisco as part of Las Californias , a province of the Viceroyalty of New Spain . The Spanish first arrived in what is now San Francisco on November 2, 1769, when the Portolá expedition led by Don Gaspar de Portolá and Juan Crespí arrived at San Francisco Bay . Having noted
7875-426: The capture, U.S. forces appointed both José de Jesús Noé and Washington Allon Bartlett to serve as co- alcaldes (mayors), while the conquest continued on in the rest of California. On January 30, 1847, Mayor Bartlett ordained that the city should officially change its name from "Yerba Buena" to "San Francisco", as the former name was only locally recognized and the latter name was in use on international maps. There
8000-679: The cautionary note of the dot-com bubble of 2000, as well as a lack of long-term sustainability in value creation of emerging companies of the Internet age . Many unicorns were created through buyouts by large public companies. In a low-interest-rate and slow-growth environment, many companies like Apple, Meta, and Google focus on acquisitions instead of focusing on capital expenditures and development of internal investment projects. Some large companies would rather bolster their businesses through buying out established technology and business models rather than creating it themselves. The average age of
8125-476: The city and burned out of control for several days. With water mains out of service, the Presidio Artillery Corps attempted to contain the inferno by dynamiting blocks of buildings to create firebreaks. More than three-quarters of the city lay in ruins, including almost all of the downtown core. Contemporary accounts reported that 498 people died, though modern estimates put the number in
8250-521: The city as a whole, asserting that the issues of concern are restricted primarily to the urban core of San Francisco. As of March 2024, Union Square was in "sorry shape" and had lost its traditional position as the Bay Area's regional shopping hub to Westfield Valley Fair in San Jose. The Ferry Station Post Office Building , Armour & Co. Building , Atherton House , and YMCA Hotel are historic buildings among dozens of historical landmarks in
8375-548: The city's Little Italy and the former center of the Beat Generation ; and Telegraph Hill , which features Coit Tower . Abutting Russian Hill and North Beach is San Francisco's Chinatown , the oldest Chinatown in North America. The South of Market , which was once San Francisco's industrial core, has seen significant redevelopment following the construction of Oracle Park and an infusion of startup companies . New skyscrapers, live-work lofts, and condominiums dot
8500-479: The city's alcalde , renamed it from Yerba Buena (Spanish for "Good Herb"), which had been the name of the first civilian pueblo in San Francisco, as well as the name of Yerba Buena Cove , which the pueblo was on the shore of. Earlier in San Francisco's history, the uninhabited area on the northeastern side of San Francisco was called El Paraje de Yerba Buena , after the herb that was growing abundantly there. The name Yerba Buena continues to be used in locations in
8625-417: The city's population reached new highs, surpassing the previous record set in 1950. When the bubble burst in 2001 and again in 2023, many of these companies folded and their employees were laid off. Yet high technology and entrepreneurship remain mainstays of the San Francisco economy. By the mid-2000s (decade), the social media boom had begun, with San Francisco becoming a popular location for tech offices and
8750-576: The city's southern border, the Excelsior District is one of the most ethnically diverse neighborhoods in San Francisco. The Bayview-Hunters Point in the far southeast corner of the city is one of the poorest neighborhoods, though the area has been the focus of several revitalizing and urban renewal projects. The construction of the Twin Peaks Tunnel in 1918 connected southwest neighborhoods to downtown via streetcar, hastening
8875-571: The city, according to the National Register of Historic Places listings in San Francisco . San Francisco is located on the West Coast of the United States , at the north end of the San Francisco Peninsula and includes significant stretches of the Pacific Ocean and San Francisco Bay within its boundaries. Several picturesque islands — Alcatraz , Treasure Island and the adjacent Yerba Buena Island , and small portions of Alameda Island , Red Rock Island , and Angel Island —are part of
9000-865: The city, such as on Yerba Buena Island and in the Yerba Buena Center for the Arts and Yerba Buena Gardens . While people residing outside the San Francisco Bay Area use nicknames including "Frisco" and "San Fran", local residents in the Bay Area sometimes refer to San Francisco as "the City" or "SF". The choice of nickname a person uses is a common way for locals to distinguish long-time residents from tourists and recent arrivals. "San Fran" and "Frisco" are sometimes considered controversial as nicknames among San Francisco residents. The earliest archeological evidence of human habitation of
9125-432: The city. Also included are the uninhabited Farallon Islands , 27 miles (43 km) offshore in the Pacific Ocean. The mainland within the city limits roughly forms a "seven-by-seven-mile square," a common local colloquialism referring to the city's shape, though its total area, including water, is nearly 232 square miles (600 km ). There are more than 50 hills within the city limits. Some neighborhoods are named after
9250-488: The company alleged they were trying to take away CEO Josh Tetrick's control of the company. By July 2017, the entire board had been fired, resigned, or moved to an advisory role except for the CEO and founder Josh Tetrick, reportedly over disputes with the CEO. Five new board members were appointed. Hampton Creek started transitioning its website and other branding to focus on the "Just" name in June 2017. The company's legal name
9375-609: The company got approval from the United States Department of Agriculture and Food and Drug Administration to sell its cultured meat in the United States. San Francisco, California San Francisco , officially the City and County of San Francisco , is a commercial, financial , and cultural center within Northern California . With a population of 808,988 residents as of 2023, San Francisco
9500-650: The company had a culture of paying suppliers late or withholding payment entirely. In 2021, the company was sued by the landlord of its San Francisco headquarters, 2000 Folsom Partners LLC, over $ 2.6 million in overdue rent payments. Eat Just was also sued in 2021 by the Archer-Daniels-Midland Company over failing to pay a $ 15,000 2015 bill for hemp seeds, and by VWR International for $ 189,000 in unpaid debt. Eat Just develops and markets plant-based substitutes for foods that ordinarily use chicken eggs, such as scrambled eggs and mayonnaise. The company
9625-515: The country at the time. His financial empire, however, collapsed in 1875 as a result of the Panic of 1873 , triggering a major economic crisis in San Francisco. Development of the Port of San Francisco and the establishment in 1869 of overland access to the eastern U.S. rail system via the newly completed Pacific Railroad (the construction of which the city only reluctantly helped support ) helped make
9750-683: The development of West Portal , and nearby affluent Forest Hill and St. Francis Wood . Further west, stretching all the way to the Pacific Ocean and north to Golden Gate Park lies the vast Sunset District , a large middle-class area with a predominantly Asian population. The northwestern quadrant of the city contains the Richmond , a mostly middle-class neighborhood north of Golden Gate Park, home to immigrants from other parts of Asia as well as many Russian and Ukrainian immigrants. Together, these areas are known as The Avenues . These two districts are each sometimes further divided into two regions:
9875-509: The emergence of The Castro as an urban gay village , the election of Harvey Milk to the Board of Supervisors , and his assassination , along with that of Mayor George Moscone , in 1978. Bank of America , now based in Charlotte , North Carolina , was founded in San Francisco; the bank completed 555 California Street in 1969. The Transamerica Pyramid was completed in 1972, igniting
10000-774: The excavation of the Yerba Buena Tunnel through Yerba Buena Island during the construction of the Bay Bridge. Such land tends to be unstable during earthquakes. The resulting soil liquefaction causes extensive damage to property built upon it, as was evidenced in the Marina district during the 1989 Loma Prieta earthquake . A few natural lakes and creeks ( Lake Merced , Mountain Lake , Pine Lake , Lobos Creek , El Polin Spring ) are within parks and remain protected in what
10125-520: The fact that there were no churches to be found, prompted missionaries like William Taylor to come to San Francisco where he began preaching in the streets, using an upright barrel as his pulpit. Taylor was able to garner enough generous donations from successful gold miners with which he used to build a church. One of the most influential figures of this era was William Chapman Ralston . A shrewd banker and investor, Ralston amassed considerable wealth and influence in San Francisco. He gained control over
10250-497: The famous " Painted Ladies ," standing alongside Alamo Square . To the south, near the geographic center of the city is Haight-Ashbury , famously associated with 1960s hippie culture. The Haight is now home to some expensive boutiques and a few controversial chain stores, although it still retains some bohemian character. North of the Western Addition is Pacific Heights , an affluent neighborhood that features
10375-407: The fifth-most visited city from abroad in the United States after New York City, Miami , Orlando , and Los Angeles – and approximately 20 million domestic visitors for a total of 21.9 million visitors. It is known for its steep rolling hills and eclectic mix of architecture across varied neighborhoods , its Chinatown and Mission districts, its cooling summers, fog , and landmarks including
10500-598: The first cultured meat to receive regulatory approval in Singapore . Shortly thereafter, Eat Just's cultured meat was sold to diners at the Singapore restaurant 1880, making it the "world's first commercial sale of cell-cultured meat". Eat Just Inc. was founded in 2011 under the name Beyond Eggs and then Hampton Creek Foods by childhood friends Josh Balk and Josh Tetrick. It started in Los Angeles, California , then moved to Tetrick's garage in San Francisco in 2012. At
10625-610: The first land grant in Yerba Buena: to William Richardson , a naturalized Mexican citizen of English birth. Richardson had arrived in San Francisco aboard a whaling ship in 1822. In 1825, he married Maria Antonia Martinez, eldest daughter of the Californio Ygnacio Martínez . Yerba Buena began to attract American and European settlers; an 1842 census listed 21 residents (11%) born in the United States or Europe, as well as one Filipino merchant. Following
10750-518: The gateway to the goldfields, experienced a surge in population and commercial activity. However, the influx of fortune seekers also brought challenges. Lawlessness was rampant, and the Barbary Coast district became synonymous with vice, attracting criminals, prostitutes, and illicit activities, including but not limited to prostitution, bootlegging , and gambling. The rapidly growing population, with its lawlessness, gambling and other vices, and
10875-535: The growth of Hampton Creek and other egg substitute companies with an advertising campaign featuring the slogan "Accept No Substitutes." In October 2014, competitor Unilever sued Hampton Creek Foods alleging the "JUST Mayo" name misled consumers into believing the product contained real eggs. Public sentiment favored Hampton Creek and more than 100,000 people eventually signed a Change.org petition asking Unilever to "stop bullying sustainable food companies." Unilever withdrew its lawsuit six weeks after filing it. However,
11000-457: The hill on which they are situated, including Nob Hill , Potrero Hill , and Russian Hill . Near the geographic center of the city, southwest of the downtown area, are a series of less densely populated hills. Twin Peaks , a pair of hills forming one of the city's highest points, forms an overlook spot. San Francisco's tallest hill, Mount Davidson , is 928 feet (283 m) high and is capped with
11125-562: The homes built by wealthy San Franciscans in the wake of the 1906 earthquake. Directly north of Pacific Heights facing the waterfront is the Marina , a neighborhood popular with young professionals that was largely built on reclaimed land from the Bay. In the southeast quadrant of the city is the Mission District —populated in the 19th century by Californios and working-class immigrants from Germany, Ireland, Italy, and Scandinavia. In
11250-482: The joint venture, Proterra promised to invest up to $ 100 million and, with Eat Just, started building a manufacturing facility in Singapore. Eat Just raised $ 200 million in funding in March 2021 to fund global expansion. Also in 2021, Eat Just's GOOD Meat subsidiary raised $ 267 million in venture capital funding. In May, 2022, Eat Just signed a contract with ABEC Inc., which manufactures bioprocess equipment, to build 10 bioreactors for growing meat. Tetrick estimates that
11375-538: The larger Port of Oakland . The city began to lose industrial jobs and turned to tourism as the most important segment of its economy. The suburbs experienced rapid growth, and San Francisco underwent significant demographic change, as large segments of the white population left the city, supplanted by an increasing wave of immigration from Asia and Latin America. From 1950 to 1980, the city lost over 10 percent of its population. Over this period, San Francisco became
11500-692: The largest, and 30 decacorns, including SpaceX, Getir , Goto , J&T Express, Stripe, and Klarna . The surge of unicorns was reported as "meteoric" for 2021, with $ 71 billion invested in 340 new companies, a banner year for startups and for the US venture capital industry; the unprecedented number of companies valued at more than $ 1 billion during 2021 exceeded the sum total of the five previous years. Six months later, in June 2022, 1,170 total unicorns were reported. IPL with $ 10.9 billion made into decacorn in 2022. The growth of unicorns has slowed more recently with 1248 total unicorns reported in May 2024. During
11625-541: The market. This was because of the severe over-valuation of both companies in the private market by investors and venture capital firms. The market did not agree with both companies' valuations, and therefore, dropped the price of each stock from their initial IPO range. Investors and startups may choose to avoid an IPO due to increased regulations. Regulations like the Sarbanes–Oxley Act have implemented more stringent regulations following several bankruptcy cases in
11750-484: The mid-2000s, investors and venture capital firms were adopting first-mover advantage and get big fast (GBF) strategies for startups, also known by the neologism , "blitzscaling". GBF is a strategy where a startup tries to expand at a high rate through large funding rounds and price cutting to gain an advantage on market share and push away rival competitors as fast as possible. The rapid returns through this strategy seem to be attractive to all parties involved, despite
11875-419: The missions were made to divest themselves of their extensive landholdings and emancipate the indigenous people under their control. As part of the process of secularization, Governor José Figueroa opened up San Francisco to civilian settlement. Prior to secularization, the only settlements in San Francisco had been the military settlement at the Presidio and the religious settlement at Mission Dolores. In 1835,
12000-454: The need for physical locations to buy consumer goods. Many large corporations have seen this trend for a while and have tried to adapt to the e-commerce trend. Walmart in 2016 bought Jet.com , an American e-commerce company, for $ 3.3 billion to try to adapt to consumer preferences. In support of the sharing economy, unicorns and successful startups have built an operating model defined as "network orchestrators". In this business model, there
12125-580: The new bioreactors could potentially produce 30 million pounds of cultured meat per year. The location for the bioreactors is pending regulatory approval by the Food and Drug Administration and U.S. Department of Agriculture . In 2023, ABEC filed a lawsuit again Eat Just for breach of contract. The lawsuit alleges that Eat Just has failed to live up to its financial obligations and has failed to pay over $ 30 million worth of invoices. Eat Just partnered with C2 Capital Partners in 2022, receiving $ 25 million from
12250-484: The period of Mexican rule , although it was not until 1833 that the missions would be secularized. Agricultural land became largely privatized as ranchos , as was occurring in other parts of California. Coastal trade increased, including a half-dozen barques from various Atlantic ports which regularly sailed in California waters. With the enactment of the Mexican Secularization Act of 1833 ,
12375-416: The present day. This is where more established valuation methods become more relevant. This includes the three most common valuation methods : Investors can derive a final valuation from these methods and the amount of capital they offer for a percentage of equity within a company becomes the final valuation for a startup. Competitor financials and past transactions also play an important part when providing
12500-533: The primary port of embarkation for service members shipping out to the Pacific Theater of Operations . The explosion of jobs drew many people, especially African Americans from the South , to the area. After the end of the war, many military personnel returning from service abroad and civilians who had originally come to work decided to stay. The United Nations Charter creating the United Nations
12625-513: The private equity firm to expand Eat Just's operations in China. In April 2023, Barnes & Noble launched breakfast sandwich made with Just Egg in 500 B&N Cafés nationwide. Eat Just has been the subject of a number of lawsuits, primarily over unpaid bills. In 2023, bioreactor specialist ABEC sued Eat Just in a lawsuit claiming breach of contract due to Eat Just not paying over $ 61 million worth of invoices. Insiders said to Wired in 2023 that
12750-605: The quality of housing after the earthquake. The earthquake hastened development of western neighborhoods that survived the fire, including Pacific Heights , where many of the city's wealthy rebuilt their homes. In turn, the destroyed mansions of Nob Hill became grand hotels. City Hall rose again in the Beaux Arts style, and the city celebrated its rebirth at the Panama–Pacific International Exposition in 1915. During this period, San Francisco built some of its most important infrastructure. Civil Engineer Michael O'Shaughnessy
12875-551: The rise of the beatnik and hippie countercultures, the sexual revolution , the peace movement growing from opposition to United States involvement in the Vietnam War , and other factors led to the Summer of Love and the gay rights movement, cementing San Francisco as a center of liberal activism in the United States . San Francisco and the surrounding San Francisco Bay Area are a global center of economic activity and
13000-542: The several thousands. More than half of the city's population of 400,000 was left homeless. Refugees settled temporarily in makeshift tent villages in Golden Gate Park, the Presidio, on the beaches, and elsewhere. Many fled permanently to the East Bay . Jack London is remembered for having famously eulogized the earthquake: "Not in history has a modern imperial city been so completely destroyed. San Francisco
13125-401: The size of the market and how much a company thinks it can grow in a certain time period. To properly judge the valuation of a company after the revenue forecast is completed, a forecast of the operating margin , analysis of needed capital investments, and return on invested capital needs to be completed to judge the growth and potential return to investors of a company. Assumptions of where
13250-543: The southern side of the Golden Gate , which later came to be known as Fort Point. In 1804, the province of Alta California was created, which included San Francisco. At its peak in 1810–1820, the average population at the Mission Dolores settlement was about 1,100 people. In 1821, the Californias were ceded to Mexico by Spain. The extensive California mission system gradually lost its influence during
13375-576: The strategic benefits of the area due to its large natural harbor, the Spanish dispatched Pedro Fages in 1770 to find a more direct route to the San Francisco Peninsula from Monterey , which would become part of the El Camino Real route. By 1774, Juan Bautista de Anza had arrived to the area to select the sites for a mission and presidio . The first European maritime presence in San Francisco Bay occurred on August 5, 1775, when
13500-738: The terms " centicorn " and " hectocorn " have been used. Aileen Lee originated the term "unicorn" in a 2013 TechCrunch article, "Welcome To The Unicorn Club: Learning from Billion-Dollar Startups". At the time, 39 companies were identified as unicorns. In a different study done by Harvard Business Review , it was determined that startups founded between 2012 and 2015 were growing in valuation twice as fast as startup companies founded between 2000 and 2003. In 2018, 16 US companies became unicorns, resulting in 119 private companies worldwide valued at $ 1 billion or more. Globally, according to CB Insights , there were more than 803 unicorns as of August 2021 , with ByteDance , SpaceX and Stripe among
13625-493: The territory of San Francisco dates to 3000 BCE. The Yelamu group of the Ramaytush people resided in a few small villages when an overland Spanish exploration party arrived on November 2, 1769, the first documented European visit to San Francisco Bay . The Ohlone name for San Francisco was Ahwaste , meaning, "place at the bay." The arrival of Spanish colonists, and the implementation of their Mission system, marked
13750-513: The testing is focused on finding high-protein plants with specific types of proteins. Eat Just's first product, Beyond Eggs, was intended to replace eggs in baked goods and was released in February 2013. It is made with peas and other ingredients. Later on, Eat Just developed plant-based substitutes for mayonnaise and cookie dough . Initially, the company focused on foods that use eggs as an ingredient, like muffins. In July 2017, it started selling
13875-420: The time, the company had about 30 employees. Initially, it had $ 500,000 then $ 2 million in venture capital funding from Khosla Ventures . Hampton Creek's first two years were spent in research and development. It tested plant varieties in a lab in order to identify plant proteins with properties similar to chicken eggs, such as gelling and emulsifying. Eat Just created an automated process for testing plants that
14000-402: The underwater lot. By 1851, the harbor was extended out into the bay by wharves while buildings were erected on piles among the ships. By 1870, Yerba Buena Cove had been filled to create new land. Buried ships are occasionally exposed when foundations are dug for new buildings. California was quickly granted statehood in 1850, and the U.S. military built Fort Point at the Golden Gate and
14125-421: The wider region. San Francisco, which is Spanish for "Saint Francis," takes its name from Mission San Francisco de Asís , which in turn was named after Saint Francis of Assisi . The mission received its name in 1776, when it was founded by the Spanish under the leadership of Padre Francisco Palóu . The city has officially been known as San Francisco since 1847, when Washington Allon Bartlett , then serving as
14250-415: Was a major city known for its flamboyant style, stately hotels, ostentatious mansions on Nob Hill , and a thriving arts scene. The first North American plague epidemic was the San Francisco plague of 1900–1904 . At 5:12 am on April 18, 1906, a major earthquake struck San Francisco and northern California. As buildings collapsed from the shaking, ruptured gas lines ignited fires that spread across
14375-613: Was a major port of embarkation for naval service members shipping out to the Pacific Theater . In 1945, the United Nations Charter was signed in San Francisco, establishing the United Nations and in 1951, the Treaty of San Francisco re-established peaceful relations between Japan and the Allied Powers . After the war, the confluence of returning servicemen, significant immigration , liberalizing attitudes,
14500-500: Was also concern that a new town being planned by General Vallejo on the Carquinez Strait was to be called "Francisca", after the first name of his wife. After the name change to "San Francisco", the name of Vallejo's town was changed to Benicia , after his wife's middle name. Following the Treaty of Guadalupe Hidalgo in 1848, Alta California was ceded from Mexico to the United States . Despite its attractive location as
14625-662: Was at the height of the Great Depression that San Francisco undertook two great civil engineering projects, simultaneously constructing the San Francisco–Oakland Bay Bridge and the Golden Gate Bridge , completing them in 1936 and 1937, respectively. It was in this period that the island of Alcatraz , a former military stockade, began its service as a federal maximum security prison, housing notorious inmates such as Al Capone , and Robert Franklin Stroud ,
14750-464: Was centered on a plaza that is now Portsmouth Square . A land survey of Yerba Buena was made by the Swiss immigrant Jean Jacques Vioget as prelude to the city plan. Francisco de Haro , a non- Californio Mexican native, became the first alcalde of Yerba Buena. The second alcalde José Joaquín Estudillo was a Californio from a prominent Monterey family. In 1835, while in office, he approved
14875-568: Was changed the following year. This prompted trademark litigation with a bottled water company run by Jaden Smith that also uses the "Just" brand. In late 2019, Eat Just Inc. acquired its first manufacturing plant. The 30,000 square foot plant in Appleton, Minnesota , was originally a Del Dee Foods plant. Eat Just sales increased by more than 100% from February to July 2020, due to the COVID-19 pandemic . In 2020, Eat Just created an Asian subsidiary with Proterra Investment Partners Asia. Through
15000-536: Was drafted and signed in San Francisco in 1945 and, in 1951, the Treaty of San Francisco re-established peaceful relations between Japan and the Allied Powers . Urban planning projects in the 1950s and 1960s involved widespread destruction and redevelopment of west-side neighborhoods and the construction of new freeways , of which only a series of short segments were built before being halted by citizen-led opposition . The onset of containerization made San Francisco's small piers obsolete, and cargo activity moved to
15125-670: Was exaggerating the science behind its products, mislabeling the ingredients in pre-production samples, and manipulated employment contracts. Then, emails secured through the Freedom of Information Act showed that the American Egg Board hired Edelman Public Relations to engage in a campaign targeting Hampton Creek's reputation. Among other things, the emails inferred the Egg Board discussed interfering with Hampton's contract with Whole Foods, encouraged Unilever in their legal actions against Hampton Creek, and made jokes about hiring
15250-437: Was granted a small rancho at El Polín Spring , near the Presidio, founding the first non-indigenous civilian household in San Francisco. In 1834, the pueblo of Yerba Buena was founded. Yerba Buena Cove (named after a native herb ) was already a favored anchorage spot and the new settlement and trading post was founded by its shores. Yerba Buena was located in what is now the city's Chinatown and Financial District and
15375-837: Was hired by San Francisco Mayor James Rolph as chief engineer for the city in September 1912 to supervise the construction of the Twin Peaks Reservoir, the Stockton Street Tunnel , the Twin Peaks Tunnel , the San Francisco Municipal Railway , the Auxiliary Water Supply System , and new sewers. San Francisco's streetcar system, of which the J , K , L , M , and N lines survive today, was pushed to completion by O'Shaughnessy between 1915 and 1927. It
15500-543: Was patented in 2016. Information like each plant's drought tolerance, taste, and any likely allergenic problems were compiled into a database called Orchard. In September 2013, Whole Foods became the first major grocery chain to sell Hampton Creek products, when it started using JUST Mayo in certain prepared foods. This was followed by deals with Costco and Safeway . By early 2014, the company had raised $ 30 million in venture capital funding. Later that year, it raised another $ 90 million. The American Egg Board responded to
15625-410: Was the O'Shaughnessy Dam , Hetch Hetchy Reservoir , and Hetch Hetchy Aqueduct that would have the largest effect on San Francisco. An abundant water supply enabled San Francisco to develop into the city it has become today. In ensuing years, the city solidified its standing as a financial capital; in the wake of the 1929 stock market crash , not a single San Francisco-based bank failed. Indeed, it
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