On this day in 2007, Steve Jobs introduced the Apple iPhone at MacWorld in San Francisco. We really didn’t have any idea about the changes it would bring. $AAPL

#New: What it costs to rent the median 1 BR apartment in: San Francisco: $3,500* Mountain View: $3,190 Redwood City: $3,090 Palo Alto: $3,070 Sunnyvale: $2,960 Santa Clara: $2,900 San Mateo: $2,810 San Jose: $2,690 Oakland: $1,950 *Up 15% in one year -Zumper

Annual income needed to buy a median priced home in: San Mateo County: $524,000 Santa Clara County: $482,400 San Francisco County: $409,600 Source: CA Assn of Realtors

#New: Zillow looked at 364 US cities, and found 350 of them where houses, on average, sell below the asking price. But .. Not so for Silicon Valley. -San Francisco: 16% above asking price, on average. -San Jose: 11.4% above asking price.

#New: How long it takes to save for a typical down payment on a home in: San Francisco: 36.5 years San Jose: 36.2 years Los Angeles: 34 years San Diego: 30 years New York: 23.4 years Seattle: 22.6 years Source: realtor.com

#New: Waymo again pauses its driverless taxi service in San Francisco, this time citing flash flood warnings.

#Update: Waymo: “We have temporarily suspended our ride-hailing services in the San Francisco Bay Area due to the widespread power outage.”

#New: 34% of renters say they do not believe the American Dream includes owning a home - a new high. Source: Zumper

#New: The White House says the Kennedy Center will be re-named the "Trump-Kennedy Center." The Center’s board of trustees, appointed by President Trump in April, voted to change the name.

#Breaking: California DMV rules Tesla misled consumers about Autopilot and Full Self-Driving capabilities. The DMV says it proposes a sales suspension; first giving Tesla 90 days to comply. $TSLA down after hours.

#New: The majority of US homes on the market are now selling below asking price. But .. Not in the Bay Area. San Francisco: Selling for 16% above average asking price. San Jose: Selling for 11.3% above average asking price. Source: zillow

#New: Bay Area rents (avg 1BR): San Francisco: $3,500* Mtn View: $3,210 Foster City: $3,140 Redwood City: $3,050 Palo Alto: $2,960 San Mateo: $2,900 Santa Clara: $2,840 San Jose: $2,680 Berkeley: $2,100 Oakland: $1,950 *Up 16% this year. Source: Zumper

Tomorrow marks 30 years (!) since Pixar released “Toy Story” to the public. The groundbreaking movie was a huge success, spawning sequels. Seven days later, Pixar went public, making Steve Jobs a billionaire.

#Update: US Metro areas with the highest median home sale price: San Francisco Bay Area: $1.19 million Los Angeles: $950,000 San Diego: $860,000 Honolulu: $768,000 Source: @remaxllc.bsky.social

Tough day for many here in the Bay Area. As an Oakland native and Skyline High School student when Coach John Beam was there; I remember Coach, and have been hearing from friends, classmates, and others who remember him too. Thoughts to his family, and those helped by Coach.

Amazon: Just hit a record high stock price. Stock up 14% over the last two days. Valued at $2.7 trillion. Announced $38 billion with OpenAI. ...Just cut 14,000 corporate jobs. $AMZN

Hey! BlueSky just topped 40 million users.

#Breaking: Netflix says it will split its stock 10-1. $NFLX

#New: Rent prices (median 1BR): New York: $4,400 San Francisco: $3,510* Boston: $2,900 Jersey City: $2,890 San Jose: $2,710 Miami: $2,550 Los Angeles: $2,250 San Diego: $2,250 Wash, DC: $2,200 *Up 17.6% since one year ago. Source: Zumper

We have tech companies (Amazon, Salesforce, Chegg, Meta....) cutting thousands of jobs because AI is getting more efficient. We also now have THREE AI-related tech companies ($NVDA, $MSFT, $AAPL) worth $4 trillion dollars each.

#New: California Governor Gavin Newsom and Attorney General Rob Bonta say the state will file a lawsuit “immediately” if President Trump sends federalized members of the military to San Francisco.

Annual salary you need to live “comfortably” in: San Jose: $246,946 San Francisco: $251,398 San Diego: $206,353 Los Angeles: $194,920 New York: $184,420 Seattle: $178,520 Boston: $169,155 Oakland: $163,559 Source: @GOBankingRates

#New: Median home price, by county* San Mateo: $2.15 million Santa Clara: $2.0 m San Francisco: $1.75 m Alameda: $1.25 m Los Angeles: $983,000 Contra Costa: $870,000 *all higher than one year ago. Source: @CAREALTORS

#New: Airports in the Bay Area say they are not playing a video of Secretary of Homeland Security Kristi Noem saying Democrats are to blame for the federal government shutdown.

#New: There are now no major metro areas in the US where buying a home is less expensive than renting a home. Gap between monthly mortgage payments and rent payments: San Francisco: 191% San Jose: 186% Seattle: 120% Source: @InvestorsObserv

End of an era: AOL has officially stopped its dial-up internet service. Do you remember that sound?

#Breaking: Apple has removed the “Ice Block” app from its App Store.

#New: What it costs to rent in the Bay Area (avg 1BR): San Francisco: $3,510 Mtn. View: $3,290 Redwood City: $3,130 Palo Alto: $3,090 Sunnyvale: $3,060 Santa Clara: $2,970 San Jose: $2,730 Walnut Creek: $2,560 Oakland: $1,990 Source: @Zumper

#New: Microsoft says it will no longer allow Israel’s military to have access to some of its Azure technology being used for surveillance in Gaza. This comes after pressure from Microsoft employees and some investors. $MSFT

#New: California has the highest unemployment rate among all states at 5.5%. Job growth in the state has slowed to 3,800 jobs total for the month. In 2024, the monthly average was 25,000 jobs gained. Source: @BLS_gov

58%. Shot tonight from Silicon Valley.

#Breaking: Most Trump tariffs ruled illegal by US Appeals Court.

This weekend, help #cleartheshelters by adopting pets like “Scott Budman” from shelters (yes, you can choose a better name).

#Now: Anti-ICE protestors marching through Palo Alto to Palantir (sound up):

#BREAKING: Moment US citizen (Angie) released from ICE custody in San Francisco…

The San Francisco Giants’ payroll is close to 3 times that of the A’s. The Giants have won 3 more games than the A’s so far this year.

In Silicon Valley, the average homeowner pays $139,596 a year in mortgage costs. That’s $18,436 more than the average annual income. -@zoocasa

If you live in Silicon Valley and make $112,000 a year, you’re now considered “low income.” -@DCDHCD

#New: Top two cities where homes sold for the most above asking this year: 1. San Francisco: +16.1% 2. San Jose: +11.4% *96% of US cities reported average home sale prices lower than original listing. *Average US sale price $43,000 less than asking price. -zillow

#New: Elon Musk is threatening to sue Apple because of how he thinks xAI is ranked in the App Store.

#Breaking: Tariffs on China delayed by President Trump for 90 days.

#New: Getting asked a LOT about Instagram “Maps” today: To shut it off (and not get tracked): 1. Setting and Activity 2. Story, Live, and Location 3. Location Sharing 4. “No One”

#Update: Apple's stock market value went up close to $150 billion in the regular trading session, on news that Tim Cook was meeting with President Trump. In after hours trading, as Cook mentioned Apple's commitment to AI, the stock gained another $100 billion. $AAPL

#New: Apple announces $100 billion plan to make iPhones and Watches with Corning Glass (made in America - but this was already happening), and other US partnerships - incl Applied Materials (based in Silicon Valley - this was also already happening). *Not much new, but stocks up: $AMAT $GLW $AAPL

#Update: The annual income you need, according to @Redfin, to afford a median priced home in: San Jose: $413,100 San Francisco: $393,443 Oakland: $244,073 Los Angeles: $234,619 San Diego: $227,612 Seattle: $219,498 New York: $213,245 Boston: $204,465

#New: Study by AP/NORC says more people are worried about grocery prices than even housing prices or healthcare prices. Is this you? Are the concerns because we don't know what's coming price-wise because of tariffs?

#New: Miami jury decides Tesla should be held partly liable for a fatal 2019 Autopilot crash and must compensate the family of the deceased and an injured survivor damages of $329 million.

First trillion dollar company: August 2018 (Apple) First 2 trillion dollar company: August 2020 ($AAPL) First 3 trillion dollar company: June 2023 ($AAPL) First 4 trillion dollar company: July 9, 2025 (Nvidia) Today: Two 4 trillion dollar companies ($NVDA $MSFT)

#New: As of now, there is no longer a single county in the nation where a full-time minimum wage worker can afford average rental prices. -@NLIHC

No, the president cannot fire the Federal Reserve chair. The Chair can be removed only for cause, not policy disagreements.