WSJ Tech News Briefing What’s the Deal With Circular AI Deals?
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Oct 28, 2025 
Katherine Bindley, a WSJ technology reporter, shares insights on San Francisco's resurgence after a challenging pandemic period, highlighting improvements in crime and homelessness. Jonathan Weil, a WSJ columnist, dives into the complexities of circular deals in the AI sector, discussing their mechanics and potential pitfalls. He draws parallels between current AI infrastructure investments and the dot-com bubble, warning about the risks of coordinated spending cuts. Together, they offer a captivating look at both urban trends and the evolving tech landscape.
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Remote Work Hollowed San Francisco
- Remote work and high concentration of knowledge workers hollowed out San Francisco during the pandemic.
- That led to lower rents, weaker commercial real estate, and visible homelessness and drug use that spooked residents.
Revived Downtown Coffee Shop Success
- Katherine Bindley describes a coffee-shop founder who reopened downtown after partnering on a lease-sharing agreement.
- The founder was warned it was risky but says reopening about a year ago has been a fantastic decision.
Crime And Visible Homelessness Are Falling
- Katherine Bindley reports crime and visible homelessness in San Francisco have declined recently.
- She cites a 28% drop in burglaries and fewer tent encampments after removals.