Joint Venture Silicon Valley provides ANALYSIS, ACTION, LEADERSHIP
March 17, 2023 - The Joint Venture board of directors elected five new members to their body at their quarterly meeting. Unanimously elected were Jon Cowan, Senior Director, Government Relations & Community Partnerships, El Camino Health; Matt Mahan, Mayor, City of San José; Cynthia Teniente-Matson, President, San José State University; DeLinda Mrowka, Chief Revenue Officer, KQED; and Corey Verwey, Executive Project Director, LendLease. “We are so pleased to welcome this panel of accomplished leaders to the Joint Venture board,” said Russell Hancock, CEO of Joint Venture.
March 20, 2023 - Joint Venture’s audiences celebrated the rich and diverse arts of Silicon Valley through performers who shared their considerable talents. MOSAIC America provided a spectrum of music and dance as a symbolic representation of the cultures who enrich our region. Francis Experience ignited the room with its hip hop and jazz ensemble, performing vignettes dramatizing the lived experience of local community members. Led by Jonathan Borca, the ensemble used music and dance as a tool pointed social commentary.
March 19, 2023 - To highlight one living example of community building, Jessica Paz-Cedillos and Vanessa Shieh, Co-Executive Directors of the School of Arts and Culture at Mexican Heritage Plaza, shared details about a $20 million expansion plan. Known as “La Avenida,” The plan will transform a vacant, 30,000-square-foot retail space on Alum Rock Avenue into a 200-seat theater and a community-oriented cafe, along with a wellness center run by Gardner Health Services. It will also include a 6-story parking garage topped with a park, affordable housing for 100 families, and a multistory office and retail building, creating new neighborhoods and cultural hubs.
March 20, 2023 - A panel of leaders considered the data contained in the 2023 Silicon Valley Index. Moderated by Supervisor Susan Ellenberg, the panel included City Councilmember Alicia Aguirre (Redwood City); Veronica Goei, Executive Director of Grail Family Services; Camille Llanes-Fontanilla, Vice President at Sobrato Philanthropies; Raúl Rodríguez, Interim Chancellor of San Jose – Evergreen Community College District; and Juan M. Salazar, Director of State and Local Policy at Meta. The group agreed that affordable housing and childcare were the chief barriers.
March 20, 2023 - The second half of the conference put Silicon Valley’s community issues center stage. Russell Hancock, CEO of Joint Venture, began by showing the region’s jaw-dropping average annual earnings and the stunning value-added and productivity figures. He then showed how median household income hasn’t kept pace with inflation and how Silicon Valley exhibited the nation’s most highly pronounced wealth disparities.
March 20, 2023 - John Markoff, Pulitzer Prize-winning journalist who wrote for The New York Times’ science and technology beat for 28 years, moderated a bracing conversation with Silicon Valley’s foremost academic interpreter, and one of the Valley’s most active and successful venture capitalists. AnnaLee Saxenian, whose early work explaining the Valley’s dynamism launched waves of Valley scholarship, argued that the tech sector was in the throes of a “correction.” Somesh Dash, a partner at one of the Valley’s first venture capital firms, spoke of the dynamism he observes in the start-up scene. “I have never seen a cohort of more battle-tested entrepreneurs,” he enthused.
March 20, 2023 - “A cloak of uncertainty has descended on the region,” began Joint Venture CEO Russell Hancock as he referenced a spate of layoffs in the tech sector, a slow recovery for jobs in community infrastructure, empty downtowns, and a substantial exodus out of the region. “But how should we contextualize these trends?” he asked, pointing out that the region is at full employment, that the layoffs represent a recalibration rather than a collapse as the tech sector adjusts to new demand curves, that most of the departing workers were still in Northern California and the Greater Bay Area and still filling Silicon Valley jobs.
February 15, 2023 - Silicon Valley is perched on solid ground despite growing income and wealth divides, persistent racial inequities, and a dwindling population, according to the 2023 Silicon Valley Index, just released by Joint Venture’s Institute for Regional Studies. The Index shows that population declined by tens of thousands, home prices rose by 7%, childcare costs rose twice as quickly as inflation, and wages were inadequate for the rising cost of living. "We see hundreds of thousands of meals required of our region’s food bank, and childcare cost rising twice as quickly as everything else," said Rachel Massaro, Director of Research for the Institute.
March 13, 2023 - Annette Nellen has been named a Fellow at Joint Venture’s Silicon Valley Institute for Regional Studies. Nellen is a professor in and director of San José State University's graduate tax program (MST), teaching courses in tax research, accounting methods, individual tax, property transactions, employment tax, leadership, ethics, and tax policy. No stranger to Joint Venture, Nellen was involved with the Joint Venture Tax Policy Group and chaired the panel from late 1990s through 2004.
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Comprehensive information and data about the Silicon Valley ecosystem is always available at www.siliconvalleyindicators.org.
Data and charts from the Silicon Valley Index (and more) are presented on an interactive website that allows users to explore Silicon Valley trends. Indicators are presented by the Institute for Regional Studies. Housed within Joint Venture Silicon Valley, the Institute provides data and analysis on issues facing dense metropolitan regions.