Protesters to gather outside Twitter on IPO day

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Those who stand to become instant millionaires from Twitter’s initial public offering might as well be worlds apart from a coalition of senior advocates, students, tenant organizers and union members planning to rally outside the tech company’s San Francisco headquarters on the day of the IPO.

Beginning at 6:30am on Nov. 7, when company shares will officially be open for trading on the New York Stock Exchange, the group will hold a press conference and rally to “call attention to corporate tax breaks and the tech company’s role in the San Francisco eviction crisis,” according to a media advisory.

At noon, the activists will stage a rally outside 1355 Market Street, where the company has its offices in a landmark Art Deco building.

The rally is being sponsored by a host of community-based organizations including Manilatown Heritage Foundation, Jobs With Justice, POOR Magazine, SEIU United Service Workers West and others.

“As Twitter readies to profit millions from its IPO and continues to benefit from tax breaks, people left behind – dealing with widespread evictions, cuts to vital services, diminished public transportation resources and underfunded schools and colleges will join together to ask Twitter: what is your public offering to the people of San Francsico?” The event announcement notes.

Among investors, Twitter’s highly anticipated IPO is a source of intrigue and speculation, with demand on the rise and the high end of its price range increased in response to a high level of interest.

Twitter’s presence in mid-Market has encouraged real estate developers to descend on the neighborhood surrounding the company headquarters, to entice tech company workers with nearby housing. According to a recent article in the New York Times, Miami developer Crescent Heights is building the area’s largest new residential high-rise right across the street:

“After Twitter announced it was moving to the area, the developer scrapped its original plans and tailored the apartments for the tech workers who would be employed nearby. Residents of NEMA, short for New Market, as the development is called, will have amenities like a saltwater pool, landscaped terraces, valet parking and dog-walking services.”

Yet the company’s presence has intensified a debate about the tech industry’s role in an ongoing housing affordability crisis that is rapidly changing the cultural feel of San Francisco. As the Guardian has recently reported, evictions in the mid-Market area coupled with higher-than-anticipated revenue losses from the city’s mid-market payroll tax break have led many to question whether the company’s presence has brought the benefit that was promised or just resulted in harm by driving displacement.

With a hint of irony, activists titled the media advisory about the Nov. 7 rally #ThrownOutByTwitter.

Comments

poor and miserable is so much more the noble human condition.

This envy mania is getting out of control.

Posted by Guest on Nov. 04, 2013 @ 5:20 pm

and is just as laughable

neo-cons are so repressed, that to them, unconsciously, everything in their life centers on sexual shame (and boasting to cover it up)

they hide from their own deep feelings of sexual inadequacy by narcissistically convincing themselves that everyone envies them and their money

true mental illness

Posted by upm on Nov. 04, 2013 @ 6:25 pm

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by upkh on Nov. 04, 2013 @ 6:36 pm
Posted by Guest on Nov. 04, 2013 @ 6:39 pm

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by upkhjkh on Nov. 04, 2013 @ 6:27 pm

and yes, we too are subsidizing your presence, and S**t attitude. You would do us a favor by blowing away.

Posted by GuestEd on Nov. 07, 2013 @ 3:02 pm
Posted by Guest on Nov. 07, 2013 @ 3:24 pm

them whether they wouldn't kill their first born to have a "problem" like this?

Posted by Guest on Nov. 04, 2013 @ 5:22 pm

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by upkhjk on Nov. 04, 2013 @ 6:28 pm

The authors of Poor magazine seem to spend a lot of time on how smart they are and yet can't seem to find a job.

Posted by Matlock on Nov. 04, 2013 @ 6:13 pm

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by upkhj on Nov. 04, 2013 @ 6:29 pm

that they can enjoy even more outrageously generous and unsustainable health and pension benefits.

Because janitors and clerks are so hard to replace . .

Posted by Guest on Nov. 04, 2013 @ 6:33 pm

They have a various pronged attack scheme, they want more for themselves and they want more city employees who will then be in the SEIU.

This is why they own people like Campos and Avalos who want more and more taxes and more and more city employees. While there really isn't anything to show for it that 95% of the actual citizens of the city can see.

Employ more SEIU members and give them raises, then complain that the city is broke and we need to raise taxes to pave the streets and do the basics.

A total self perpetuating new class operation feeding off the tax payers like Russian nobility.

Posted by Matlock on Nov. 04, 2013 @ 7:15 pm

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by upkh on Nov. 04, 2013 @ 6:29 pm

Your entertainment value lies in your self importance

and your belief that you think you are doing such important work here.

No one could careless about your trolly troll trolling but they do laugh at how important you think you are, and how you strangely think that you are somehow doing something for the few dozen people who read the comments here.

You sir comical.

Posted by trolly troll trolling on Nov. 04, 2013 @ 7:18 pm

Only I Am The True Troll Wall Master!

Fear Me!

Posted by Zargon The Magnificent! on Nov. 04, 2013 @ 8:49 pm

Maybe we'll get an hour break when he goes out to vote.

Posted by Guest on Nov. 05, 2013 @ 10:42 am

Why doesn't the SFBG refuse to accept all those full page NEMA ads?

Posted by Guest on Nov. 04, 2013 @ 6:33 pm
Posted by Guest on Nov. 04, 2013 @ 6:44 pm

There's so much misunderstanding about IPOs. People who've never been through the process just don't get it.

Posted by Lucretia Snapples on Nov. 04, 2013 @ 7:30 pm

I hope so. She's my hero.

Posted by Lucretia Snapples on Nov. 04, 2013 @ 7:31 pm

You bet your Amerikkkan colonizifusing a$$!

Posted by marcos on Nov. 04, 2013 @ 8:25 pm

I would guess

Posted by Matlock on Nov. 05, 2013 @ 7:21 pm

search engine: Twitter Just Revealed Its IPO: Surprise, It's Not Profitable

Excerpt: Twitter is not profitable. It lost almost $70 million in the first six months of 2013, and has never been profitable—though revenues were $28 million in 2010, and $316 million last year. That's a big jump, but doesn't negate the fact that this business doesn't turn a profit.

My personal experience: Twitter is a grand waste of time. I've known business people who have used it and they tell me they got nothing from it no matter what they did. No sales. No hits. Nothing. So they abandoned it. As they say and I agree, Twitter seems to be an endless flow of nothing/tweets with useless sayings - the type of drippy-syrupy sayings one would read in a greeting card. Lots of that crap on there. And there seems to be a lot of (spam) robots on there. But other than that, I don't know what people see in Twitter or FB for that matter. Over-hyped shit.

Posted by Guest on Nov. 04, 2013 @ 9:42 pm

But Twitter have done nothing wrong, so why direct anger at them? Would it be better if they weren't doing well? How so?

Posted by Guest on Nov. 05, 2013 @ 6:53 am

Twitter extorted its tax breaks from the city with a threat to move, then using its leverage to avoid any meaningful community benefits in the process, while its investors poison our political system with their money,so it seems like a fine target for a protest.

Posted by Steven T. Jones on Nov. 05, 2013 @ 7:35 am

not extortion when a tenant demands a payoff to vacate a rental unit? That's a very convenient distinction.

There was no extortion here. What happened was routine. A business was considering relocating out of the city precisely because of that city's confiscatory tax rules, and the city then realized that it couldn't afford to lose such a high-profile world-leading business. There followed a negotiation which led to a win for everybody.

Countries, States and Cities the world over offer inducements to attract businesses. It's entirely normal and desirable. Remember, we elected a pro-business mayor for reasons like this.

Posted by Guest on Nov. 05, 2013 @ 7:51 am

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by ikdfj on Nov. 05, 2013 @ 7:59 am

The city merely takes less from them.

Posted by Guest on Nov. 05, 2013 @ 8:54 am

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by ikdf on Nov. 05, 2013 @ 9:38 am

a gift to the owners of property in the area, most notably the Shorenstein Company.

Twitter may get a lot of attention (for now), but can't be considered "world-leading" unless the purpose of business is to lose money.

Posted by Guest on Nov. 05, 2013 @ 8:35 am

Ed Lee and Twitter did it in next to no time.

And yes, property valuations go up when an area improves. That's a good thing, not least for the city.

Posted by Guest on Nov. 05, 2013 @ 8:55 am

Mid Market is no cleaner than it was 10 years ago.

Posted by marcos on Nov. 05, 2013 @ 9:14 am

definitely less drug dealing and use, less panhandling and skeeve, and there is now a more uplifting community there.

The Twitter tax break was a win for everyone, except a few Avalos clones who hate success and worship failure.

Posted by Guest on Nov. 05, 2013 @ 9:26 am

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by ikdf on Nov. 05, 2013 @ 9:39 am

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by ikdfj on Nov. 05, 2013 @ 8:00 am

Lilli/Racer x/ikdfj/He Who Must Not Be Named is up early today, and ready for a busy, active day of spamming!

Posted by Zargon The Magnificent! on Nov. 05, 2013 @ 8:35 am

It was absolutely extortion by Twitter. They had no right whatsoever to look at locations outside of San Francisco. None.

They were planning an IPO and there is no doubt that they looked at the surrounding tax jurisdictions to see which ones would treat them favorably. Brisbane fit the bill.

I don't see how they could possibly deny that they were in fact looking to maximize the net benefit of the IPO for their employees and investors.

It was extortion, plain and simple. As always, Steven T. Jones is right on target with a cogent analysis.

Posted by Guest on Nov. 05, 2013 @ 1:54 pm

They should have realized that they are trapped here for all time.

How dare they exercize free choice? SO un-American.

Posted by anon on Nov. 05, 2013 @ 2:03 pm

I don't see how Twitter can deny it -- they were blatantly trying to minimize the tax implications of their upcoming IPO instead if worrying about how much money they could possibly pay to San Francisco.

We don't need companies like that in San Francisco. Let them move to Brisbane. Good riddance.

We only want companies here who pay as much tax as possible without asking any bothersome questions. The rest can leave. Don't let I-280 hit you on the way out, extortionists.

Posted by Guest on Nov. 05, 2013 @ 3:04 pm

Is Twitter just another tool of imperialist US foreign policy?
http://venezuelanalysis.com/news/10139

Posted by Greg on Nov. 05, 2013 @ 8:42 am

His anti-capitalist paranoia with his deep admiration for the basketcase economies of Latin America.

That's a good morning's work there, Greg. You should take a nap.

Posted by Guest on Nov. 05, 2013 @ 8:57 am

I expected *both* clichés to be trotted out within seconds: "anyone who disagrees with me is a conspiracy theorist" *and* "America love it or leave it." So far you've only managed one.

Posted by Greg on Nov. 05, 2013 @ 9:19 am

Everything I know about cliches, I learned from the master - you.

How about a dig at cops and Asians now?

Posted by Guest on Nov. 05, 2013 @ 9:27 am

this is simply a barricade against trolls

it is a signpost to indicate to the reader that other anonymous posters on this thread are beginning to purposely diminish the conversation into repetitive deceptions, reactionary hyperbole, and/or petty, mean spirited personal attacks and irrelevant bickering

the barrier is put in place to signal that there is probably little point in reading more replies in the thread past this point

proceed at your own risk

Posted by ikdfj on Nov. 05, 2013 @ 9:36 am

Simple. You don't advance it at all. You just call the other side "a conspiracy theory."

The implied argument here by the troll is that a simultaneous shutdown of 10,000 prominent government supporters, in the run-up to an election, *only* shutting down one side selectively and leaving the accounts of prominent right-wing opposition members completely untouched... the implied argument is that this is just an accident, just a coincidence. Nothing purposeful here at all.

That argument is absurd. There's no way to make that argument in a credible manner. So you just try to kill the whole debate by discrediting your opponent as a "conspiracy theorist."

Posted by Greg on Nov. 05, 2013 @ 10:25 am

and then you invite me to exclaim shock and surprise that the odd voting irregularity might take place?

And of course if it were a left-wing power doing the odd abuse, you wouldn't utter a word.

Posted by Guest on Nov. 05, 2013 @ 10:40 am

Is that you Matlock? Because you're making no sense at all. You're talking about something completely different. I'm talking about Twitter suddenly, selectively suspending a bunch of people's accounts, because of their politics.

And I didn't "invite" you to comment at all. Bt if you do comment, it would be nice if you made sense rather than just cut and paste some trollish cliches.

Posted by Greg on Nov. 05, 2013 @ 1:01 pm

If this alleged Twitter campaign had benefited the side you support, you'd have said nothing about it.

Posted by anon on Nov. 05, 2013 @ 1:13 pm

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