Garrett Leahy

Plans to build hundreds of homes in what would be San Francisco&#8217;s tallest residential building have been put on hold, according to the developer and Planning Department.

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Plans to build hundreds of homes in what would be San Francisco's tallest residential building have been put on hold, according to the developer and Planning Department.

Plans to build hundreds of homes in what would be San Francisco&#8217;s tallest residential building have been put on hold, according to the developer and Planning Department.

The planned 992-foot-tall project at 50 Main St. in the city&#8217;s downtown would add 800 apartments and a public park on the ground level. The building would replace an existing two-story parking garage. The planning department has yet to approve the plans.

The planned 992-foot-tall project at 50 Main St. in the city's downtown would add 800 apartments and a public park on the ground level. The building would replace an existing two-story parking garage. The planning department has yet to approve the plans.

The planned 992-foot-tall project at 50 Main St. in the city&#8217;s downtown would add 800 apartments and a public park on the ground level. The building would replace an existing two-story parking garage. The planning department has yet to approve the plans.

The massive tower would sit three blocks from San Francisco&#8217;s tallest building, the <a href="https://scroll.sfstandard.com/salesforce-tower-future/index.html">1,070-foot Salesforce Tower</a>, which topped out in 2018.

The massive tower would sit three blocks from San Francisco's tallest building, the <a href="https://scroll.sfstandard.com/salesforce-tower-future/index.html">1,070-foot Salesforce Tower</a>, which topped out in 2018.

The massive tower would sit three blocks from San Francisco&#8217;s tallest building, the <a href="https://scroll.sfstandard.com/salesforce-tower-future/index.html">1,070-foot Salesforce Tower</a>, which topped out in 2018.

Texas-based developer Hines told planning officials that work had paused on the project in April last year because the company wanted to redesign it, an excerpt from an email seen by The Standard shows. No specifics on a new format or timeline were supplied.

Texas-based developer Hines told planning officials that work had paused on the project in April last year because the company wanted to redesign it, an excerpt from an email seen by The Standard shows. No specifics on a new format or timeline were supplied.

&#8220;We&#8217;re continuing to work on our plans for executing the redevelopment of the project,&#8221; Hines spokesperson Marisa Monte-Santoro said in an emailed statement.

"We're continuing to work on our plans for executing the redevelopment of the project," Hines spokesperson Marisa Monte-Santoro said in an emailed statement.

&#8220;We&#8217;re continuing to work on our plans for executing the redevelopment of the project,&#8221; Hines spokesperson Marisa Monte-Santoro said in an emailed statement.

Renderings of the 50 Main Street tower, which would be the second tallest in the city after Salesforce Tower if built| 

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2022/10/50main-1.png?w=974" alt="A skyscraper is seen in a rendering." class="wp-image-79721"/><figcaption class="wp-element-caption">If built, the 50 Main St. tower, depicted in a rendering, would be the second tallest in the city after Salesforce Tower.</figcaption></figure>

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<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2022/10/50main-1.png?w=974" alt="A skyscraper is seen in a rendering." class="wp-image-79721"/><figcaption class="wp-element-caption">If built, the 50 Main St. tower, depicted in a rendering, would be the second tallest in the city after Salesforce Tower.</figcaption></figure>

A September 2022 permit filed with the city&#8217;s Department of Building Inspection says the building&#8217;s construction will cost more than $180 million.

A September 2022 permit filed with the city's Department of Building Inspection says the building's construction will cost more than $180 million.

A September 2022 permit filed with the city&#8217;s Department of Building Inspection says the building&#8217;s construction will cost more than $180 million.

Hines has not notified the Planning Department when it will resume work on the project, Sider said.

Hines has not notified the Planning Department when it will resume work on the project, Sider said.

The tower at 50 Main St. is part of a <a href="https://sfstandard.com/2022/10/03/huge-san-francisco-skyscraper-could-change-city-skyline-forever-with-808-homes/">larger Hines development</a> named City Grove.

Huge San Francisco skyscraper could change city skyline forever with 808 homes

The tower at 50 Main St. is part of a <a href="https://sfstandard.com/2022/10/03/huge-san-francisco-skyscraper-could-change-city-skyline-forever-with-808-homes/">larger Hines development</a> named City Grove.

The full development includes office and retail space at 215 Market St., 245 Market St. and 200 Mission St. Upon completion, it would have underground parking for up to 404 cars and a 1.25-acre public park, including an amphitheater.

The full development includes office and retail space at 215 Market St., 245 Market St. and 200 Mission St. Upon completion, it would have underground parking for up to 404 cars and a 1.25-acre public park, including an amphitheater.

This is not the first change that has been made to plans for 50 Main St.

This is not the first change that has been made to plans for 50 Main St.

In late 2022, Hines reduced the apartment tower&#8217;s height <a href="https://www.bizjournals.com/sanfrancisco/news/2022/08/22/shorter-tower-proposed-on-p-g-e-block.html">from 1,066 feet to 992 feet</a> and reduced the number of apartments from 808 to 800.

In late 2022, Hines reduced the apartment tower's height <a href="https://www.bizjournals.com/sanfrancisco/news/2022/08/22/shorter-tower-proposed-on-p-g-e-block.html">from 1,066 feet to 992 feet</a> and reduced the number of apartments from 808 to 800.

In late 2022, Hines reduced the apartment tower&#8217;s height <a href="https://www.bizjournals.com/sanfrancisco/news/2022/08/22/shorter-tower-proposed-on-p-g-e-block.html">from 1,066 feet to 992 feet</a> and reduced the number of apartments from 808 to 800.

Hines has faced controversy after its luxury apartment building at <a href="https://sfstandard.com/2022/09/16/plagued-san-francisco-luxury-apartment-residents-might-not-move-home-until-june-2023/">33 Tehama St. flooded</a> twice in June and August 2022, displacing all of the building&#8217;s tenants.

Plagued San Francisco luxury apartment residents might not move home for 9 months

Hines has faced controversy after its luxury apartment building at <a href="https://sfstandard.com/2022/09/16/plagued-san-francisco-luxury-apartment-residents-might-not-move-home-until-june-2023/">33 Tehama St. flooded</a> twice in June and August 2022, displacing all of the building's tenants.

Hines has faced controversy after its luxury apartment building at <a href="https://sfstandard.com/2022/09/16/plagued-san-francisco-luxury-apartment-residents-might-not-move-home-until-june-2023/">33 Tehama St. flooded</a> twice in June and August 2022, displacing all of the building&#8217;s tenants.

Downtown’s promised huge skyscraper is going nowhere fast, will be redesigned

Kevin Truong

On the eve of an incredibly tight <a href="https://sfstandard.com/2024/11/04/san-francisco-voters-turnout-election-trump-kamala/">November election</a> that will dictate her political future, Mayor London Breed took the podium to announce a new park on the Embarcadero.

These San Franciscans don&#8217;t give a rat&#8217;s ass about the election

On the eve of an incredibly tight <a href="https://sfstandard.com/2024/11/04/san-francisco-voters-turnout-election-trump-kamala/">November election</a> that will dictate her political future, Mayor London Breed took the podium to announce a new park on the Embarcadero.

Technically, it’s the creation of a public-private partnership to potentially enable the construction of a new park, but who’s counting?

Technically, it’s the creation of a public-private partnership to potentially enable the construction of a new park, but who’s counting?

Breed plans to introduce legislation on Tuesday to greenlight a partnership between the city, Salesforce Tower owner BXP Inc. (formerly Boston Properties), and the Downtown SF Partnership to redesign and upgrade the Embarcadero Plaza in front of the Ferry Building and the adjacent Sue Bierman Park.

Breed plans to introduce legislation on Tuesday to greenlight a partnership between the city, Salesforce Tower owner BXP Inc. (formerly Boston Properties), and the Downtown SF Partnership to redesign and upgrade the Embarcadero Plaza in front of the Ferry Building and the adjacent Sue Bierman Park.

“We are going to reimagine what Embarcadero Plaza will be for the future so that people who want to come here can enjoy it,” Breed said at the press conference, before listing a string of recent park projects that have been open to the public, including <a href="https://sfstandard.com/2024/07/05/bayfront-park-chase-center/">Bayfront Park</a>, <a href="https://sfstandard.com/2024/04/29/china-basin-park-opens/">China Basin Park</a>, and <a href="https://sfstandard.com/2022/07/17/party-on-a-freeway-sfs-much-anticipated-tunnel-tops-park-opens-in-the-presidio/">Presidio Tunnel Tops</a>.&nbsp;

SF has been opening new parks at a furious clip—and the next one is almost here

China Basin revealed: How a &#8216;complicated land-use deal&#8217; yielded a new gem by the bay

Party on a freeway: SF’s much-anticipated Tunnel Tops Park opens in the Presidio

“We are going to reimagine what Embarcadero Plaza will be for the future so that people who want to come here can enjoy it,” Breed said at the press conference, before listing a string of recent park projects that have been open to the public, including <a href="https://sfstandard.com/2024/07/05/bayfront-park-chase-center/">Bayfront Park</a>, <a href="https://sfstandard.com/2024/04/29/china-basin-park-opens/">China Basin Park</a>, and <a href="https://sfstandard.com/2022/07/17/party-on-a-freeway-sfs-much-anticipated-tunnel-tops-park-opens-in-the-presidio/">Presidio Tunnel Tops</a>.&nbsp;

“All these open public spaces every single weekend are packed with people. This is one step further to making a plaza like this come to life differently.”

“All these open public spaces every single weekend are packed with people. This is one step further to making a plaza like this come to life differently.”

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The resolution would call for BXP to spend $2.5 million on the design of the project, while the Recreation &amp; Parks Department and the Office of Economic and Workforce Development would commit to securing $15 million in public funds for the park.&nbsp;

The resolution would call for BXP to spend $2.5 million on the design of the project, while the Recreation &amp; Parks Department and the Office of Economic and Workforce Development would commit to securing $15 million in public funds for the park.&nbsp;

BXP and the Downtown SF Partnership would also be charged with working to secure an additional $10 million in private funding.&nbsp;

BXP and the Downtown SF Partnership would also be charged with working to secure an additional $10 million in private funding.&nbsp;

What exactly the project would consist of is still an open question and subject to community outreach, but ideas include entertainment venues, a new children’s playground, or a marketplace space with kiosks. Any potential renovation of the park would go through public hearings and review.&nbsp;

What exactly the project would consist of is still an open question and subject to community outreach, but ideas include entertainment venues, a new children’s playground, or a marketplace space with kiosks. Any potential renovation of the park would go through public hearings and review.&nbsp;

“San Francisco needs a world-class park in its downtown,” said Aaron Fenton, senior vice president of BXP, at the press conference. “This is such a prime piece of real estate with its iconic views and its access to public transportation”

“San Francisco needs a world-class park in its downtown,” said Aaron Fenton, senior vice president of BXP, at the press conference. “This is such a prime piece of real estate with its iconic views and its access to public transportation”

BXP has been working with the design firm HOK for about a year on a redesign of the plaza in a bid to better activate the area and make it an attractive amenity for its tenants. During that time, the city has tried to activate the area with programming like concerts, raves, and DJ sets.&nbsp;

BXP has been working with the design firm HOK for about a year on a redesign of the plaza in a bid to better activate the area and make it an attractive amenity for its tenants. During that time, the city has tried to activate the area with programming like concerts, raves, and DJ sets.&nbsp;

“As the front door to San Francisco, Embarcadero Plaza is arguably the most underutilized public space in the greater downtown area and prime to welcome residents and visitors downtown to experience a world-class waterfront park in a world-class city,” Robbie Silver, Downtown SF Partnership CEO and president, said in a statement.

“As the front door to San Francisco, Embarcadero Plaza is arguably the most underutilized public space in the greater downtown area and prime to welcome residents and visitors downtown to experience a world-class waterfront park in a world-class city,” Robbie Silver, Downtown SF Partnership CEO and president, said in a statement.

Opinion: Embarcadero Plaza is a living shrine to skateboarding history — don’t desecrate it

sf-standard/related-post

Mark Farrell reveals ‘bold’ vision for downtown. Mayor calls it a ChatGPT plan

The Ferry Building is hot again. Here’s how it happened

sf-standard/related-posts-container

Initial renderings shared by the team show the removal of the <a href="https://sfstandard.com/2024/06/21/bono-vaillancourt-fountain-drained/">Vaillancourt Fountain</a>, perhaps one of the city’s most reviled pieces of public art.&nbsp;

The Bono fountain is broken. Is SF too broke to pay for its $3 million fix?

Initial renderings shared by the team show the removal of the <a href="https://sfstandard.com/2024/06/21/bono-vaillancourt-fountain-drained/">Vaillancourt Fountain</a>, perhaps one of the city’s most reviled pieces of public art.&nbsp;

The real estate developer, which also owns the adjacent Embarcadero Center, touted increased vitality from its planned revamp, including a publicly accessible bathroom at its property with an eye-popping $2.5 million price tag.

The real estate developer, which also owns the adjacent Embarcadero Center, touted increased vitality from its planned revamp, including a publicly accessible bathroom at its property with an eye-popping $2.5 million price tag.

Breed’s legislation is being put forward a few months after Mark Farrell — one of Breed’s leading competitors for mayor — <a href="https://sfstandard.com/2024/07/17/mark-farrell-downtown-recovery-plan/">proposed his own version</a> of a new Embarcadero Plaza park as part of a larger downtown revitalization plan.

Breed’s legislation is being put forward a few months after Mark Farrell — one of Breed’s leading competitors for mayor — <a href="https://sfstandard.com/2024/07/17/mark-farrell-downtown-recovery-plan/">proposed his own version</a> of a new Embarcadero Plaza park as part of a larger downtown revitalization plan.

At the time, a Breed campaign spokesman derided the plan as a “Chat-GPT” envisioned fantasy.&nbsp;

At the time, a Breed campaign spokesman derided the plan as a “Chat-GPT” envisioned fantasy.&nbsp;

A new park may come to SF’s Embarcadero with help from the Salesforce Tower owner

Rya Jetha

High above San Francisco, nestled in the clouds, sits the headquarters of a secret society meant to solve humanity’s most daunting challenges. You most certainly are not invited to the club — and you’re not supposed to know it exists.&nbsp;

High above San Francisco, nestled in the clouds, sits the headquarters of a secret society meant to solve humanity’s most daunting challenges. You most certainly are not invited to the club — and you’re not supposed to know it exists.&nbsp;

Behold <a href="https://www.theinstitute.com/">the Institute</a>. If you&#8217;ve heard of it, it&#8217;s probably because you possess something its founders covet: billions in your bank account, a bold-face name in an esoteric field, maybe a Nobel Prize.

Behold <a href="https://www.theinstitute.com/">the Institute</a>. If you've heard of it, it's probably because you possess something its founders covet: billions in your bank account, a bold-face name in an esoteric field, maybe a Nobel Prize.

Behold <a href="https://www.theinstitute.com/">the Institute</a>. If you&#8217;ve heard of it, it&#8217;s probably because you possess something its founders covet: billions in your bank account, a bold-face name in an esoteric field, maybe a Nobel Prize.

Located on the 59th floor of San Francisco’s tallest building, Salesforce Tower, the Institute has a sprawling 18,000-square-foot lounge designed by <a href="https://www.iwamotoscott.com/projects/level-59">IwamotoScott Architecture</a> and styled by John Terzian, the <a href="https://www.nytimes.com/2023/12/28/style/john-terzian-hwood-clubs.html">owner of a nightclub empire</a> frequented by celebrities. The libraries, cafe, and bar in the <a href="https://www.theinstitute.com/our-space">stunning space</a> have panoramic city views. Looking out at the tip of the Transamerica Pyramid, Coit Tower and Alcatraz in the distance, and the dazzling bay under the Golden Gate Bridge, one feels godlike.

Located on the 59th floor of San Francisco’s tallest building, Salesforce Tower, the Institute has a sprawling 18,000-square-foot lounge designed by <a href="https://www.iwamotoscott.com/projects/level-59">IwamotoScott Architecture</a> and styled by John Terzian, the <a href="https://www.nytimes.com/2023/12/28/style/john-terzian-hwood-clubs.html">owner of a nightclub empire</a> frequented by celebrities. The libraries, cafe, and bar in the <a href="https://www.theinstitute.com/our-space">stunning space</a> have panoramic city views. Looking out at the tip of the Transamerica Pyramid, Coit Tower and Alcatraz in the distance, and the dazzling bay under the Golden Gate Bridge, one feels godlike.

That is exactly what the Institute’s founders, venture capitalists Alexander Tamas and John Hering, intended.&nbsp;

That is exactly what the Institute’s founders, venture capitalists Alexander Tamas and John Hering, intended.&nbsp;

A modern twist on Enlightenment-era French and Viennese coffeehouses, where intellectuals gathered to discuss the issues of the day, the Institute pitches itself as a salon for great minds to tackle humanity’s biggest challenges.&nbsp;

A modern twist on Enlightenment-era French and Viennese coffeehouses, where intellectuals gathered to discuss the issues of the day, the Institute pitches itself as a salon for great minds to tackle humanity’s biggest challenges.&nbsp;

You won’t find Leon Trotsky or Simone de Beauvoir sipping cappuccinos in the lounge, discussing revolution and feminism. You might, however, find Sal Khan, founder of online educational platform Khan Academy, in an animated conversation with acclaimed chef Alice Waters, or Canada’s most decorated astronaut chatting it up with the United Arab Emirate’s artificial intelligence minister and the chief executive of Burning Man.&nbsp;

You won’t find Leon Trotsky or Simone de Beauvoir sipping cappuccinos in the lounge, discussing revolution and feminism. You might, however, find Sal Khan, founder of online educational platform Khan Academy, in an animated conversation with acclaimed chef Alice Waters, or Canada’s most decorated astronaut chatting it up with the United Arab Emirate’s artificial intelligence minister and the chief executive of Burning Man.&nbsp;

It’s ambitious stuff, and while it may not be the lucrative venture its founders originally envisioned —&nbsp;an invitation-only clubhouse for the tech elite, who would pay handsomely for admission —&nbsp;it serves their decade-long quest to build social capital in the heart of Silicon Valley.

It’s ambitious stuff, and while it may not be the lucrative venture its founders originally envisioned —&nbsp;an invitation-only clubhouse for the tech elite, who would pay handsomely for admission —&nbsp;it serves their decade-long quest to build social capital in the heart of Silicon Valley.

A composite image of Alice Waters, Sal Khan, and Chris Hadfield. They are apart of a super secretive new institute bringing together famous intellectuals from across the world that's on the 59th floor of Salesforce Tower

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/10/20241011-salesforcetowersecretinstitute-62.jpeg?w=2500" alt="Three people are shown in side-by-side portraits: a smiling woman with short dark hair, a man with a beard in a tuxedo, and a man with a mustache in a checkered jacket." class="wp-image-323730"/><figcaption class="wp-element-caption">Chef Alice Waters, Khan Academy founder Sal Khan, and Canadian astronaut Chris Hadfield are among the Institute&#8217;s 75 fellows.</figcaption></figure>

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/10/20241011-salesforcetowersecretinstitute-62.jpeg?w=2500" alt="Three people are shown in side-by-side portraits: a smiling woman with short dark hair, a man with a beard in a tuxedo, and a man with a mustache in a checkered jacket." class="wp-image-323730"/><figcaption class="wp-element-caption">Chef Alice Waters, Khan Academy founder Sal Khan, and Canadian astronaut Chris Hadfield are among the Institute's 75 fellows.</figcaption></figure>

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/10/20241011-salesforcetowersecretinstitute-62.jpeg?w=2500" alt="Three people are shown in side-by-side portraits: a smiling woman with short dark hair, a man with a beard in a tuxedo, and a man with a mustache in a checkered jacket." class="wp-image-323730"/><figcaption class="wp-element-caption">Chef Alice Waters, Khan Academy founder Sal Khan, and Canadian astronaut Chris Hadfield are among the Institute&#8217;s 75 fellows.</figcaption></figure>

<h2 class="wp-block-heading" id="h-behind-closed-doors-nbsp">Behind closed doors&nbsp;</h2>

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<h2 class="wp-block-heading" id="h-behind-closed-doors-nbsp">Behind closed doors&nbsp;</h2>

Tamas and Hering have spent years trying to climb the tech industry ladder, sometimes in strange ways.&nbsp;

Tamas and Hering have spent years trying to climb the tech industry ladder, sometimes in strange ways.&nbsp;

Tamas, a German financier, is a former partner at DST Global, an investment firm founded by Israeli entrepreneur Yuri Milner that has <a href="https://www.theguardian.com/news/2017/nov/05/russia-funded-facebook-twitter-investments-kushner-investor">close links to the Kremlin</a>. Tamas led blockbuster investments in Facebook, Airbnb, and Twitter.

Tamas, a German financier, is a former partner at DST Global, an investment firm founded by Israeli entrepreneur Yuri Milner that has <a href="https://www.theguardian.com/news/2017/nov/05/russia-funded-facebook-twitter-investments-kushner-investor">close links to the Kremlin</a>. Tamas led blockbuster investments in Facebook, Airbnb, and Twitter.

In 2011, Tamas was named among the “most powerful people in tech you’ve never heard of” by venture capitalists Marc Andreessen and Ben Horowitz. “He is Yuri Milner&#8217;s human supercomputer,” <a href="https://www.forbes.com/pictures/lmm45emlh/1-alexander-tamas-partner-dst/?sh=68b0a0de6901">they wrote</a>. “He&#8217;s on speed-dial for everyone trying to build the most successful, highest-scale, global Internet companies today.”

In 2011, Tamas was named among the “most powerful people in tech you’ve never heard of” by venture capitalists Marc Andreessen and Ben Horowitz. “He is Yuri Milner's human supercomputer,” <a href="https://www.forbes.com/pictures/lmm45emlh/1-alexander-tamas-partner-dst/?sh=68b0a0de6901">they wrote</a>. “He's on speed-dial for everyone trying to build the most successful, highest-scale, global Internet companies today.”

In 2011, Tamas was named among the “most powerful people in tech you’ve never heard of” by venture capitalists Marc Andreessen and Ben Horowitz. “He is Yuri Milner&#8217;s human supercomputer,” <a href="https://www.forbes.com/pictures/lmm45emlh/1-alexander-tamas-partner-dst/?sh=68b0a0de6901">they wrote</a>. “He&#8217;s on speed-dial for everyone trying to build the most successful, highest-scale, global Internet companies today.”

The following year, Tamas, who had moved to Dubai, launched a global tech-focused hedge fund that didn’t take off. He pivoted to Silicon Valley and hired Hering, a USC dropout turned cybersecurity mogul, to help him run a venture fund, Vy Capital.&nbsp;

The following year, Tamas, who had moved to Dubai, launched a global tech-focused hedge fund that didn’t take off. He pivoted to Silicon Valley and hired Hering, a USC dropout turned cybersecurity mogul, to help him run a venture fund, Vy Capital.&nbsp;

Tamas and Hering agreed that if Vy Capital were to join the big leagues, they needed to make a splashy move. For their stage, they leased the 59th floor of Salesforce Tower, the 61-floor monolith that is the focal point of San Francisco’s skyline. Downtown brokers estimate that the space costs north of $100 a square foot, among the highest rent in the city. At that rate, annual rent would be about $2 million.&nbsp;

Tamas and Hering agreed that if Vy Capital were to join the big leagues, they needed to make a splashy move. For their stage, they leased the 59th floor of Salesforce Tower, the 61-floor monolith that is the focal point of San Francisco’s skyline. Downtown brokers estimate that the space costs north of $100 a square foot, among the highest rent in the city. At that rate, annual rent would be about $2 million.&nbsp;

But the lease was not intended for Vy Capital’s office — it was for a private club that Tamas and Hering planned to call 59. They planned to charge an initiation fee of $1 million, plus annual dues of $60,000, to mingle with “the world’s leading thinkers.” They tried to convince Sam Altman, who was running the Silicon Valley startup incubator Y Combinator, to lease part of the floor for his startup OpenAI and become a founding member of the club. But Altman passed, and Tamas and Hering soon gave up on the idea, <a href="https://www.wsj.com/business/entrepreneurship/musk-investors-spacex-ai-tesla-2711aca1">according to The Wall Street Journal</a>.&nbsp;

But the lease was not intended for Vy Capital’s office — it was for a private club that Tamas and Hering planned to call 59. They planned to charge an initiation fee of $1 million, plus annual dues of $60,000, to mingle with “the world’s leading thinkers.” They tried to convince Sam Altman, who was running the Silicon Valley startup incubator Y Combinator, to lease part of the floor for his startup OpenAI and become a founding member of the club. But Altman passed, and Tamas and Hering soon gave up on the idea, <a href="https://www.wsj.com/business/entrepreneurship/musk-investors-spacex-ai-tesla-2711aca1">according to The Wall Street Journal</a>.&nbsp;

Having struck out with Altman, Tamas and Hering set their sights on another tech-billionaire whale: Elon Musk. Through extensive efforts by Hering to gain access to the funding rounds of Musk’s startups, Vy Capital was able to invest more than half of its reported $8 billion in assets in his companies. Hering found his way into Musk’s inner circle of advisors. Tamas, meanwhile, moved to Italy in 2022 and has told investors that Vy Capital is winding down operations.&nbsp;

Having struck out with Altman, Tamas and Hering set their sights on another tech-billionaire whale: Elon Musk. Through extensive efforts by Hering to gain access to the funding rounds of Musk’s startups, Vy Capital was able to invest more than half of its reported $8 billion in assets in his companies. Hering found his way into Musk’s inner circle of advisors. Tamas, meanwhile, moved to Italy in 2022 and has told investors that Vy Capital is winding down operations.&nbsp;

<h2 class="wp-block-heading" id="h-think-tank-in-the-sky-nbsp">Think tank in the sky&nbsp;</h2>

It’s unclear when the Institute opened, but its website appears to have launched in 2021.&nbsp;

It’s unclear when the Institute opened, but its website appears to have launched in 2021.&nbsp;

The Institute defines itself as a <a href="https://www.theinstitute.com/about-us">public-benefit think tank</a> concerned with “advancing human progress” and working to “make the world a better place.” Instead of having to shell over $1 million for membership, 75 experts at the top of their fields have accepted invitations to serve as “fellows.”

The Institute defines itself as a <a href="https://www.theinstitute.com/about-us">public-benefit think tank</a> concerned with “advancing human progress” and working to “make the world a better place.” Instead of having to shell over $1 million for membership, 75 experts at the top of their fields have accepted invitations to serve as “fellows.”

<a href="https://www.theinstitute.com/our-community">They include</a> biochemist David Baker, who won the 2024 Nobel Prize in chemistry; Yeonmi Park, a North Korean defector turned human rights activist; and mushroom researcher Paul Stamets of “Fantastic Fungi” fame. Other fellows are distinguished writers, historians, musicians, scientists, and executives, selected “by the work they have done, the power of their ideas, and their commitment to solving the world’s problems,” the website states. The fellowship includes structured and unstructured time to spark creative thinking, according to the site, which doesn’t offer specifics about the time commitment.&nbsp;

<a href="https://www.theinstitute.com/our-community">They include</a> biochemist David Baker, who won the 2024 Nobel Prize in chemistry; Yeonmi Park, a North Korean defector turned human rights activist; and mushroom researcher Paul Stamets of “Fantastic Fungi” fame. Other fellows are distinguished writers, historians, musicians, scientists, and executives, selected “by the work they have done, the power of their ideas, and their commitment to solving the world’s problems,” the website states. The fellowship includes structured and unstructured time to spark creative thinking, according to the site, which doesn’t offer specifics about the time commitment.&nbsp;

A composite image of David Baker Yeonmi Park, and Paul Stamets. They are apart of a super secretive new institute bringing together famous intellectuals from across the world that's on the 59th floor of Salesforce Tower

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/10/20241011-salesforcetowersecretinstitute-61.jpeg?w=2500" alt="The image shows three people: a man with curly hair and glasses speaking, a woman in a black dress with floral earrings, and a bearded man in a hat with glasses." class="wp-image-323729"/><figcaption class="wp-element-caption">Nobel Prize-winning chemist David Baker, North Korean defector Yeonmi Park, and mushroom researcher Paul Stamets are fellows.</figcaption></figure>

The Institute is registered as a public benefit corporation, meaning it’s a for-profit business created to do social good. It doesn’t appear to have revenue sources, raising questions about whether Tamas and Hering are bankrolling it.&nbsp;

The Institute is registered as a public benefit corporation, meaning it’s a for-profit business created to do social good. It doesn’t appear to have revenue sources, raising questions about whether Tamas and Hering are bankrolling it.&nbsp;

The Institute’s <a href="https://www.theinstitute.com/our-initiatives">focus areas</a> range from transportation and climate change to human longevity and consciousness. The website includes reports on the future of artificial intelligence, urbanization, and biosecurity, but the audience for them is unclear.&nbsp;

The Institute’s <a href="https://www.theinstitute.com/our-initiatives">focus areas</a> range from transportation and climate change to human longevity and consciousness. The website includes reports on the future of artificial intelligence, urbanization, and biosecurity, but the audience for them is unclear.&nbsp;

<a href="https://www.research.ox.ac.uk/researchers/nick-bostrom">Nick Bostrom</a>, a philosophy professor at Oxford who popularized the idea that superintelligent AI could destroy humanity, is a fellow at the Institute involved in initiatives on AI and biosecurity. In an email, Bostrom said the Institute brings together “an interesting and diverse group of people, and I think it’s great to encourage exchanges between individuals from different fields in a relaxed setting.” He added that he has yet to visit the headquarters in San Francisco.&nbsp;

<a href="https://www.research.ox.ac.uk/researchers/nick-bostrom">Nick Bostrom</a>, a philosophy professor at Oxford who popularized the idea that superintelligent AI could destroy humanity, is a fellow at the Institute involved in initiatives on AI and biosecurity. In an email, Bostrom said the Institute brings together “an interesting and diverse group of people, and I think it’s great to encourage exchanges between individuals from different fields in a relaxed setting.” He added that he has yet to visit the headquarters in San Francisco.&nbsp;

Other fellows contacted by The Standard did not respond or declined to comment.&nbsp;

Other fellows contacted by The Standard did not respond or declined to comment.&nbsp;

The Institute’s website makes no mention of its founders or origin story. Both founders declined requests to be interviewed.&nbsp;

The Institute’s website makes no mention of its founders or origin story. Both founders declined requests to be interviewed.&nbsp;

A spokesperson said Tamas and Hering “co-founded the Institute to facilitate open dialogue about the most important issues of our time.”

A spokesperson said Tamas and Hering “co-founded the Institute to facilitate open dialogue about the most important issues of our time.”

“For this to occur, the discussions are held in an environment where confidentiality is key. Their hope is that these conversations challenge the status quo and result in tangible solutions to the world’s most pressing problems.”&nbsp;

“For this to occur, the discussions are held in an environment where confidentiality is key. Their hope is that these conversations challenge the status quo and result in tangible solutions to the world’s most pressing problems.”&nbsp;

And if the assembled geniuses of the Institute don’t succeed at doing that, at least they can enjoy the views.

And if the assembled geniuses of the Institute don’t succeed at doing that, at least they can enjoy the views.

High atop Salesforce Tower, a secret club for geniuses from two shadowy VCs

Michael McLaughlin

An entire glass pane fell from the roof level of Salesforce East and crashed onto the street Friday morning in downtown San Francisco, authorities said. The pane shattered on impact and sent shards flying across the street into the windows of Millennium Tower

An entire glass pane fell from the roof level of Salesforce East and crashed onto the street Friday morning in downtown San Francisco, authorities said. The pane shattered on impact and sent shards flying across the street into the windows of Millennium Tower

Department of Building Inspection spokesperson Patrick Hannan said two of Millennium Tower&#8217;s ground-floor windows sustained damage after the incident. DBI has issued a notice of violation to Salesforce East, which instructs management to replace the window pane as soon as possible and secure the opening in the meantime.

Department of Building Inspection spokesperson Patrick Hannan said two of Millennium Tower's ground-floor windows sustained damage after the incident. DBI has issued a notice of violation to Salesforce East, which instructs management to replace the window pane as soon as possible and secure the opening in the meantime.

Department of Building Inspection spokesperson Patrick Hannan said two of Millennium Tower&#8217;s ground-floor windows sustained damage after the incident. DBI has issued a notice of violation to Salesforce East, which instructs management to replace the window pane as soon as possible and secure the opening in the meantime.

A pane of glass being installed on the top level of the Salesforce East tower fell 30 stories to the street below on September 6, 2024.

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/09/350-glasspane-fell2-2024.jpg?w=768" alt="The image shows a construction site with metal beams, a red ladder, and various tools and materials scattered on the ground. Sunlight shines brightly through a mesh screen." class="wp-image-308929"/><figcaption class="wp-element-caption">A pane of glass being installed on the top level of the Salesforce East tower fell 30 stories to the street.</figcaption></figure>

Police and emergency department officials told people to avoid the area around the 30-story building at 350 Mission St. and warned of traffic delays. The street has since reopened and glass has been cleaned up. No injuries were reported after the glass was discovered at around 8:21 a.m., authorities said.

Police and emergency department officials told people to avoid the area around the 30-story building at 350 Mission St. and warned of traffic delays. The street has since reopened and glass has been cleaned up. No injuries were reported after the glass was discovered at around 8:21 a.m., authorities said.

Downtown skyscrapers have seen&nbsp;<a href="https://sfstandard.com/2023/03/16/glass-fell-from-the-sky-in-downtown-san-francisco-officials-say-no-cause-for-alarm/" target="_blank" rel="noreferrer noopener">windows shatter</a>&nbsp;and fall to the streets before. In March 2023, amid stormy weather and winds of around 70 mph, glass fell from the 43rd floor of the building at 555 California St.

Glass fell from the sky in downtown San Francisco—officials say no cause for alarm

Downtown skyscrapers have seen&nbsp;<a href="https://sfstandard.com/2023/03/16/glass-fell-from-the-sky-in-downtown-san-francisco-officials-say-no-cause-for-alarm/" target="_blank" rel="noreferrer noopener">windows shatter</a>&nbsp;and fall to the streets before. In March 2023, amid stormy weather and winds of around 70 mph, glass fell from the 43rd floor of the building at 555 California St.

A window being repaired at Rincon Tower&nbsp;<a href="https://www.cbsnews.com/sanfrancisco/news/no-injuries-after-high-rise-window-falls-45-stories-to-san-francisco-street-during-repairs/" target="_blank" rel="noreferrer noopener">fell 45 floors and shattered</a>&nbsp;on Folsom Street in 2021, and inspectors found&nbsp;<a href="https://www.archpaper.com/2019/03/cracked-glass-salesforce-tower/" target="_blank" rel="noreferrer noopener">cracked windows at Salesforce Tower</a>&nbsp;in 2019. Two years after the Millennium Tower began sinking and tilting in 2016, the beleaguered building&nbsp;<a href="https://sf.curbed.com/2018/9/7/17829328/millennium-tower-window-crack-highrise" target="_blank" rel="noreferrer noopener">added cracked windows</a>&nbsp;to its list of ailments. A spokesperson for the Millennium building said that work to fix the problem with their windows is nearly complete.

A window being repaired at Rincon Tower&nbsp;<a href="https://www.cbsnews.com/sanfrancisco/news/no-injuries-after-high-rise-window-falls-45-stories-to-san-francisco-street-during-repairs/" target="_blank" rel="noreferrer noopener">fell 45 floors and shattered</a>&nbsp;on Folsom Street in 2021, and inspectors found&nbsp;<a href="https://www.archpaper.com/2019/03/cracked-glass-salesforce-tower/" target="_blank" rel="noreferrer noopener">cracked windows at Salesforce Tower</a>&nbsp;in 2019. Two years after the Millennium Tower began sinking and tilting in 2016, the beleaguered building&nbsp;<a href="https://sf.curbed.com/2018/9/7/17829328/millennium-tower-window-crack-highrise" target="_blank" rel="noreferrer noopener">added cracked windows</a>&nbsp;to its list of ailments. A spokesperson for the Millennium building said that work to fix the problem with their windows is nearly complete.

Weather services forecast the wind speed Friday at the Financial District at approximately 8 mph, which is considered to be low.

Weather services forecast the wind speed Friday at the Financial District at approximately 8 mph, which is considered to be low.

Glass fell from skyscraper’s roof during construction work, smashing into Millennium Tower

Joshua Bote

A Salesforce senior director based in San Francisco alleged in a lawsuit that she was illegally laid off while on leave for a “serious health crisis.”

A Salesforce senior director based in San Francisco alleged in a lawsuit that she was illegally laid off while on leave for a “serious health crisis.”

Attorneys for Dina Zelikson filed the suit accusing the tech company of discrimination, retaliation, wrongful termination and a violation of California’s worker leave laws in a complaint filed in San Francisco Superior Court Monday.

Attorneys for Dina Zelikson filed the suit accusing the tech company of discrimination, retaliation, wrongful termination and a violation of California’s worker leave laws in a complaint filed in San Francisco Superior Court Monday.

Zelikson alleges in the lawsuit she was just one of many pieces of “deadwood”—defined in the suit as “unproductive employees on leave”—that were cut as part of Salesforce’s layoffs earlier this year. The layoffs hit around 10% of Salesforce’s worker base, affecting more than 7,000 workers globally.

Zelikson alleges in the lawsuit she was just one of many pieces of “deadwood”—defined in the suit as “unproductive employees on leave”—that were cut as part of Salesforce’s layoffs earlier this year. The layoffs hit around 10% of Salesforce’s worker base, affecting more than 7,000 workers globally.

Zelikson is seeking a jury trial and unspecified damages for economic loss, emotional distress and punitive damages, along with attorney’s fees.

Zelikson is seeking a jury trial and unspecified damages for economic loss, emotional distress and punitive damages, along with attorney’s fees.

A Salesforce spokesperson declined to comment on the lawsuit.

A Salesforce spokesperson declined to comment on the lawsuit.

In the suit, she did not mince words about her former employer or its CEO, Marc Benioff, characterizing the company’s self-branding as “a family environment,” using the Hawaiian term Ohana, as mere “lip service.” The lawsuit even took a shot at <a href="https://sfstandard.com/search/?query=salesforce%20tower">the Salesforce Tower</a>, calling it a “giant phallic symbol changing the San Francisco skyline.”

In the suit, she did not mince words about her former employer or its CEO, Marc Benioff, characterizing the company’s self-branding as “a family environment,” using the Hawaiian term Ohana, as mere “lip service.” The lawsuit even took a shot at <a href="https://sfstandard.com/search/?query=salesforce%20tower">the Salesforce Tower</a>, calling it a “giant phallic symbol changing the San Francisco skyline.”

Zelikson was initally hired at the company in mid-2020 as a director of global digital marketing focusing primarily on MuleSoft—a software company acquired by Salesforce in 2018. By April 2022, she had been promoted to a senior director role and had a “positive, interactive, and supportive working relationship” with her manager at the time, Salesforce vice president Rick Tolman.&nbsp;

Zelikson was initally hired at the company in mid-2020 as a director of global digital marketing focusing primarily on MuleSoft—a software company acquired by Salesforce in 2018. By April 2022, she had been promoted to a senior director role and had a “positive, interactive, and supportive working relationship” with her manager at the time, Salesforce vice president Rick Tolman.&nbsp;

But come August 2022, their working relationship soured, according to the suit. Zelikson was undergoing treatment to determine if brain tumors removed during a prior procedure had returned; she recently began suffering from “serious neurological symptoms and a newly diagnosed issue of high blood pressure” at the time.

But come August 2022, their working relationship soured, according to the suit. Zelikson was undergoing treatment to determine if brain tumors removed during a prior procedure had returned; she recently began suffering from “serious neurological symptoms and a newly diagnosed issue of high blood pressure” at the time.

Tolman allegedly began icing her out after she disclosed her condition, cutting scheduled meetings and not responding to her Slack messages. By October, Tolman allegedly reassigned Zelikson to another senior director and a friend of Tolman’s, the suit alleges, in an effort “to push her out as it was effectively demoting her.”&nbsp;

Tolman allegedly began icing her out after she disclosed her condition, cutting scheduled meetings and not responding to her Slack messages. By October, Tolman allegedly reassigned Zelikson to another senior director and a friend of Tolman’s, the suit alleges, in an effort “to push her out as it was effectively demoting her.”&nbsp;

In that meeting, Tolman allegedly said that Zelikson was “unreliable” due to having to take time off for her health concerns and questioned her “ability to perform her job in light of her recent health issues.” He also “referenced impending layoffs in a threatening manner.” By December, she had been formally approved for a three-month leave of absence.

In that meeting, Tolman allegedly said that Zelikson was “unreliable” due to having to take time off for her health concerns and questioned her “ability to perform her job in light of her recent health issues.” He also “referenced impending layoffs in a threatening manner.” By December, she had been formally approved for a three-month leave of absence.

Search Results for: salesforce tower

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A new park may come to SF’s Embarcadero with help from the Salesforce Tower owner

High atop Salesforce Tower, a secret club for geniuses from two shadowy VCs

Glass fell from skyscraper’s roof during construction work, smashing into Millennium Tower

Salesforce sacked exec on leave during ‘traumatic health crisis,’ suit alleges