

The Twitter IPO Will Cost San Francisco Tens of Millions of Dollars - gkop
http://motherboard.vice.com/blog/the-twitter-ipo-will-cost-san-francisco-tens-of-millions-of-dollars

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monkeyspaw
Someone please correct me, because I'm sure I'm way off base. But I feel like
this article is really absurd.

The Twitter IPO isn't costing the city money. Due to the tax deal struck
between the city and Twitter, the city could have gotten more money, if
everything else was exactly the same.

The projections are also based on this: "if all employees unload their shares
at the midpoint of the offering price range, the lost revenue to the city
could add up to $34 million."

Not all employees are going to unload their stock, I have to assume. And I
don't think you can just assume everything would have been exactly the same if
the tax deal didn't exist, right?

It seems to me that this headline could have been: "The Twitter IP will cost
SD tens of millions because twitter left San Francisco due to the city's
unwillingness to negotiate."

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dshep
If I remember this correctly if it wasn't for the tax breaks Twitter would
have relocated outside of SF. So saying SF is losing money on Twitter is
pretty misleading. I'd say Twitter is helping the city by building their
office in the Tenderlion. Hopefully that will improve the neighborhood some.

