Joint Venture Silicon Valley provides ANALYSIS, ACTION, LEADERSHIP

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Joint Venture Silicon Valley provides

ANALYSIS

ACTION

LEADERSHIP

The 2023 State of the Valley Conference

Friday February 17, 2023
9:00 am to 12:30 pm

A hybrid event livestreamed from the Computer History Museum (CHM)

Register now for the livestream

What's Happening Now

Santa Clara County businesses recovered 5 million pounds of surplus food for people in need

Photo of Al Huber, one of our oldest volunteers at Peninsula Food Runners, at 89 years old.December 8, 2022 - Businesses in Santa Clara County donated nearly five million pounds of surplus food to local food recovery organizations during the first half of 2022, thanks to SB1383. Managed by Joint Venture’s Food Recovery Initiative, which administers the program on behalf of the County of Santa Clara and all 15 cities in the county, the roughly 4.9 million pounds of food recovered prevented the release of approximately 336 metric tons of greenhouse gasses into the atmosphere, the equivalent of more than 833,600 miles driven by gas-powered vehicles.

Read the release

Institute: Q3 Commercial Space Report reflects adaptation to remote work

cover imageDecember 8, 2022 – Silicon Valley’s commercial space indicators reveal that companies are adjusting to new expectations around remote work. The latest analysis from Joint Venture’s Institute for Regional Studies shows that, despite increased vacancy rates, the total number of leases still surpassed last year’s totals. Analysis shows that, even with the backdrop of tech company layoffs and a looming recession, rents continued to hold steady through the third quarter. “Companies are still adjusting expectations around remote work,” noted Rachel Massaro, Vice President, and Director of Research for the Institute.

Read the news release | Download the report | Learn more

Joint Venture board elects Supervisor Susan Ellenberg Co-Chair, adds new members

November 18, 2022 - Joint Venture's board of directors elected Santa Clara County Supervisor Susan Ellenberg as Co-Chair at their quarterly meeting. Ellenberg succeeds Nicole Taylor, CEO of Silicon Valley Community Foundation and joins Co-Chair John Tenanes, Vice President of Global Facilities and Real Estate at Meta. The board also elected Lisa M. Bowman, employment attorney at Orrick; Gina Dalma, Executive Vice President, Community Action, Policy, and Strategy at Silicon Valley Community Foundation; and Julie Sullivan, President of Santa Clara University.

Read the release

Silicon Valley unemployment rate holds at 2.1%

cover imageNovember 18, 2022 – The unemployment rate in Silicon Valley held firm at 2.1% in October, identical to the rate in September. Overall employment in the region increased by nearly 1,500 workers, while the number of unemployed people decreased by just over 600. The total labor force in Silicon Valley increased by almost 2,200 from mid-September to mid-October, erasing most of the drop from the previous one-month period. The total labor force is now 14,500 below the previous high in February 2020 and includes approximately 89,600 more individuals than the pandemic low of 1.42 million in May 2021.

Read the release

Institute: Stock market tracker offers regional trading trends

December 8, 2022 - Joint Venture’s Silicon Valley Institute for Regional Studies has unveiled the Silicon Valley and San Francisco Public Company Stock Tracker, an innovative source of information about 327 Silicon Valley and 94 San Francisco publicly traded companies. “I’m excited to launch this market tracker that allows the public to toggle a start date and see how our region’s company market performance compares to key market indices,” said Rachel Massaro, vice president and director of research.

Go to the tracker

State of the Valley 2023

2023 State of the Valley conference - February 17 at 9:30 AMDecember 8, 2022 - The 2023 State of the Valley conference will be held at the Computer History Museum in Mountain View on Friday, February 17. The conference will feature more briefings on the data contained in the Silicon Valley Index and in-depth sessions featuring experts on major sectors: Silicon Valley Economy - Do widespread layoffs portend a major recession? Is our fabled innovation ecosystem under threat? Silicon Valley Community - What are our major issues as a community and how do we mobilize to address them? How can we create a just and sustainable community where opportunity is more widely available? 

Learn more | Sponsor a table | Register for the livestream ($35)

Institute: the benefits of universal preschool in Santa Clara County

report coverDecember 5, 2022 - Joint Venture’s Institute for Regional Studies conducted a research study supported by a grant from the County of Santa Clara through Supervisor Susan Ellenberg. Eliminating the Burden of Preschool Costs, Modeling the Impacts of Universal Preschool on Family & Community Wellbeing shows that a universal preschool program would benefit the families of preschool-aged children, would increase overall household self-sufficiency and would provide benefits to the community as a whole.“The pages of this report model what would happen if publicly-funded preschool and after-school care were available to every child under the age of five in Santa Clara County,” says Russell Hancock, CEO of Joint Venture. 

Read the Study

Michelle Qiao empowers through poetry

December 5, 2022 - Michelle Qiao, Santa Clara County’s Vice Youth Poet Laureate, presented a moving poem of her own creation at the Silicon Valley Poll Briefing on October 4. The poem, entitled Golden Gate, evoked the power of the Pacific Ocean and surrounding environs as a metaphor for community engagement. A student at Leland High School, Michelle has been recognized by the National Young Arts Foundation, the Scholastic Writing Awards, the New York Times, PBS, the Lincoln Center for the Arts, American High School Poets, and Broadway World. 

Watch Michelle’s presentation

Meet Ernesto Lucero

December 3, 2022 - Ernesto Lucero is acting deputy director for economic and community development for the City of South San Francisco. He believes in the power of collaboration for the betterment of the community. The City of South San Francisco, often called South City, has a population of about 67,000, boasts more than 250 biotech companies accounting for about 30% of the city’s jobs, it’s known as the Birthplace of Biotechnology. Ernesto will soon complete his term as chair of Joint Venture’s Silicon Valley Economic Development Alliance (SVEDA), a consortium of 25 city and county economic development professionals who bring together public and private resources to ensure the success of regional businesses.

Read Ernesto's profile

Silicon Valley Indicators

indicators home page 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.

Investors Spotlight

Donors invest in Joint Venture with both general support and project-specific gifts. Support from the community enables us to provide innovative solutions to issues that confront our regional economies and quality of life. Here are just a few of our many investors:

Sobrato Development Companies logo South Bay Piping logo Silicon Valley Clean Energy logo

Joint Venture offers a variety of support and sponsorship opportunities for individuals, corporations, and public sector organizations. To inquire about becoming a member of our Investors Council, call (408) 298-9330 or visit our Become an Investor page. To see our current investors, visit our investors pages.

Amazon Smile: Support Joint Venture while you shop

Amazon Smile logoJoint Venture is participating in the Amazon.com AmazonSmile program. Every time you shop at AmazonSmile.com, a portion of your sales (0.5%) goes to support our work. AmazonSmile is a simple and automatic way for you to support Joint Venture every time you shop, at no cost to you. When you shop at smile.amazon.com, you’ll find the exact low prices, vast selection, and convenient shopping experience as Amazon.com, with the added bonus that Amazon will donate a portion of the purchase price to support Joint Venture’s work in your community.

Support Joint Venture with Amazon Smile

Bay Area income inequality gap eclipses U.S.

grey and white coverNew data from Silicon Valley Institute for Regional Studies

July 28, 2015 – The latest tech boom has stretched the Bay Area’s income inequality gap to its widest level in decades, according to a new study from Joint Venture Silicon Valley’s Institute for Regional Studies.

The Institute’s research brief, “Income Inequality in the San Francisco Bay Area,” found that average incomes among the highest-earning Bay Area households are $149,000 higher than they are nationwide ($489,000 here compared to $340,000 in the U.S.).

The gap between high-income and low-income households is much wider ($263,000 compared to the $178,000 in the U.S.), the study reported.

Average incomes among the top five percent of Bay Area households are $473,000, 31.5 times higher than the average incomes in the bottom 20 percent, compared to a difference of just $328,000 in the U.S. overall.

"Both this brief and our recently released report on poverty in the Bay Area provide a comprehensive look at the low degree to which our region's prosperity is shared,” said Rachel Massaro, Joint Venture vice president and senior research associate for the Institute.a

“Although income inequality in the Bay Area is comparable to measured inequality in the rest of the state and nation, it has been increasing much faster in the Bay Area over the last 20 years,” said Jon Haveman, a principal at Marin Economic Consulting, who authored the study.

About the Silicon Valley Institute for Regional Studies

The Silicon Valley Institute for Regional Studies provides research and analysis on a host of issues facing Silicon Valley’s economy and society. The Institute is housed within Joint Venture Silicon Valley. For more information, visit www.siliconvalleyindicators.org.

 

In The News

December 6, 2022 - (Government Technology) - Tech Workers React to Ongoing Industry Layoffs With Shock: Their industry was going gangbusters until it wasn't, with think-tank Joint Venture Silicon Valley in February...More

December 5, 2022 - (Mercury News) - Bay Area tech workers react to layoff axes with shock, and ‘more pain’ is coming: ...with think-tank Joint Venture Silicon Valley in February reporting that “Silicon Valley’s innovation engine is red hot” and tech was leading a return in employment to pre-pandemic levels. More

December 4, 2022 - (NBC) - What Do the November Job Numbers Mean Following Rash of Tech Layoffs? Joint Venture Silicon Valley CEO Russell Hancock called the tech layoffs more of a correction after a massive hiring spree... More

December 4, 2022 - (Mercury News) - Empty pews: How COVID changed the way the Bay Area worships - ...residents say they still aren’t going to their spiritual centers as often as they did before COVID struck, according to an exclusive poll by the Bay Area News Group and Joint Venture Silicon Valley. More

December 4, 2022 - (San Francisco Chronicle) - Bay Area transit agencies project doomsday scenarios. Seamless Bay Area transit advocacy group, said a mega ballot measure could be successful if it also brings transformative improvements for riders...More

November 30, 2022 - (Fast Company) - Looming recession? Some Silicon Valley executives say bring it on: Silicon Valley Institute for Regional Studies, says that, incidentally, Silicon Valley’s biggest tech companies added about 68,000 new jobs between 2020 and 2021. More

November 29, 2022 - (MarketWatch) - ‘It was not sustainable or real’: Tech layoffs approach Great Recession levels - “Silicon Valley has cycles,” said Russell Hancock, CEO of Joint Venture Silicon Valley. More

November 21, 2022 - (Mercury News) - More than 6,000 tech and biotech job cuts roil Bay Area economy: “Tech layoffs are happening. People are being affected, lives are being disrupted,” said Russell Hancock, president of Joint Venture Silicon Valley...More

November 20, 2022 - (Silicon Valley) -  Doomsday scenario for sinking Bay Area transit: “People don’t understand the transit system is so close to collapse,” said Ian Griffiths, who heads Seamless Bay Area... More

November 20, 2022 - (Mercury News) - Sunnyvale community briefs: Joint Venture Silicon Valley’s Silicon Valley Index that shows nearly 20 percent of Silicon Valley households have zero or negative assets...More

November 20, 2022 - (CBS) - Chaos continues to reign at Twitter following Musk ultimatum, worker exodus: You're not only losing your job, you're being deported," said Russell Hancock, president and CEO of Joint Venture Silicon Valley. More

November 19, 2022 - (Mercury News) - Opinion: Plan B: Bay Area must tap tech wealth to survive - ...per Joint Venture Silicon Valley, the entire household savings of the Valley plus San Francisco, excluding peoples’ homes, is only $750 billion. More

November 18, 2022 - (Mercury News) - Bay Area soars to big October job gains — but tech layoffs loom: “What the tech sector is experiencing right now should probably be seen as an adjustment,” said Russell Hancock, president of Joint Venture Silicon Valley...More

November 17, 2022 -  (Richmond Confidential) - Why has program to help people buy homes in San Pablo gone unused? A recent survey conducted by the Bay Area News Group and Joint Venture Silicon Valley found...More

November 14, 2022 - (Mercury News) - Billionaires gone wild: Musk, Zuckerberg slash jobs, roll dice with future of Bay Area tech icons - Russell Hancock, CEO of Joint Venture Silicon Valley, sees the ups and downs of Musk and Zuckerberg in a historical context. More

November 11, 2022 - (KCBS Radio) - Twitter's revenue drop fuels bankruptcy talk: Russell Hancock comments on changes at Twitter. More

November 9, 2022 - (Silicon Valley) - Massive tech company layoffs may jeopardize Bay Area jobs rebound: “These tech layoffs could affect other companies,” said Russell Hancock, president of Joint Venture Silicon Valley...More

November 7, 2022 - (Victoria Advocate) - Twitter lays off about 900 in Bay Area after Elon Musk takeover: official state report: “This isn’t the Silicon Valley way,” said Russell Hancock, CEO or Joint Venture. More

November 7, 2022 - (Silicon Valley) - Widening tech, biotech job cuts could jolt broader Bay Area economy: experts: “Tech had a bonanza during the pandemic,” said Russell Hancock, president of Joint Venture Silicon Valley...More

November 5, 2022 - (Mercury News) - Twitter lays off about 900 in Bay Area after Elon Musk takeover: official state report: Russell Hancock, president of civic nonprofit Joint Venture Silicon Valley, said...More

November 3, 2022 - (Cupertino Today) - City of Los Altos Election Roundup: Catherine Vonnegut...served on the Joint Venture Silicon Valley Network Disaster Preparedness Initiative. More