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Google and Apple Are Opening New Offices In West LA
Amrita Khalid
Amrita Khalid is a tech journalist based in Los Angeles, and has written for Quartz, The Daily Dot, Engadget, Inc. Magazine and number of other publications. She got her start in Washington, D.C., covering Congress for CQ-Roll Call. You can send tips or pitches to amrita@dot.la or reach out to her on Twitter at @askhalid.
Even though Los Angeles’ office market faces an uncertain future due to the slowing economy, signs seem to suggest that West L.A. could weather the storm.
For starters, Apple and Google still plan to open new offices in the area — even as much of Big Tech is scaling back their physical footprints nationwide. Earlier this month, Apple's plans to build 536,000 square feet of office space and production space went before the Culver City Planning Commission. The Culver Crossings campus is expected to break ground in early 2023, with an anticipated move-in date of 2026.
“The West L.A. office market is very different from the rest of the county in that it has an abundance of very cool, architecturally distinct real estate that is very attractive to the creatives”,” wrote CBRE’s Vice Chairman Jeffrey Pion in an email. “While many of the tech companies are downsizing in other parts of the country, we are not yet certain how much of that anticipated downsizing will occur in this market but believe the long term outlook for West Los Angeles is very good.”
In addition, a Google spokesperson confirmed to dot.LA that Google has leased the former Westside Pavilion shopping complex in West L.A. and plans to move in sometime in 2023. The company has yet to decide which job functions or divisions will be located in the new West L.A. campus. And Amazon signed a deal to rent a 200,000-square-foot space at the Water Garden this summer as part of a greater Southern California expansion, even as it halted plans to build other offices nationwide.
Nonetheless, the state of L.A.’s office space market remains uncertain as companies also scramble to cut costs due to the slowing economy. J.P. Morgan Asset Management this week put up its 1.4 million square foot Santa Monica office campus for sale — which includes tenants like Amazon and Sony Inc., reported the Commercial Observer.
Still, according to a third-quarter report from CBRE, West L.A.’s office vacancy rate is at 14.5% — roughly four points lower than the average in Greater Los Angeles. “[...] Several tech, media, and entertainment companies leased space this quarter, emphasizing the prevalence of entertainment and technology in Los Angeles and West L.A.,” wrote the authors of the report.
This is all to say that after two years of remote work and hybrid offices, 2022 could be ushering in a vibe shift as more companies reverted to traditional in-office work environments. Nearly 50% of company leaders said they were planning to require workers to return to the office full-time in the next year, according to a Microsoft survey from March. While a sluggish economy has forced some companies to make cuts to their workforce and close offices — many also appear to be staying put or even expanding their corporate real estate portfolios.
The potential shift to in-office work could be further bolstered by the current economic downturn, according to Matthew E. Kahn, Provost Professor of Economics at USC. In an email to dot.LA, Kahn wrote, “During a tech recession, management has the upper-hand in determining the real pay of workers and ordering workers to work on-site — 5 days a week — is a type of pay cut.”
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Amrita Khalid
Amrita Khalid is a tech journalist based in Los Angeles, and has written for Quartz, The Daily Dot, Engadget, Inc. Magazine and number of other publications. She got her start in Washington, D.C., covering Congress for CQ-Roll Call. You can send tips or pitches to amrita@dot.la or reach out to her on Twitter at @askhalid.
https://twitter.com/askhalid
LA’s Upgrade in Travel and NBA Viewing
08:41 AM | July 26, 2024
Image Source: Los Angeles World Airports
🔦 Spotlight
Exciting developments are underway for Los Angeles as the city prepares for major upgrades in both travel and entertainment. The Los Angeles Board of Airport Commissioners has approved an additional $400 million for the Automated People Mover (APM) at LAX, increasing its total budget to $3.34 billion. This boost ensures the elevated train’s completion by December 8, 2025, with service starting in January 2026. For Angelenos, this means a significant improvement in travel convenience. The APM will streamline connections between parking, rental car facilities, and the new Metro transit station, drastically cutting traffic congestion around the airport. Imagine a future without the dreaded 30-minute traffic delays at LAX! The APM will operate 24/7, reducing airport traffic by 42 million vehicle miles annually and carrying 30 million passengers each year, while also creating thousands of local jobs and supporting small businesses.
Meanwhile, the NBA is also making waves with its new broadcasting deals. The league has signed multi-year agreements with ESPN, NBC, and Amazon Prime Video, marking a notable shift in media partnerships. ESPN will maintain its long-standing role, NBC returns as a network broadcaster after years away, and Amazon Prime Video will provide NBA games through its streaming platform. Starting with the 2025-2026 season, these deals will enhance the league's reach and revenue, aligning with the NBA's goal to expand its audience and adapt to evolving viewing habits. Whether you're catching the action on TV or streaming online, these changes promise to elevate the fan experience and bring more basketball excitement to Los Angeles.
🤝 Venture Deals
LA Companies
- Pearl, a startup that makes AI-powered software that assists dentists in identifying cavities, gum disease, and other dental conditions, raised a $58M Series B funding led by Left Lane Capital with Smash Capital, and others also participating. - learn more
LA Venture Funds
- Fulcrum Venture Group participated in a prior $3.5M Pre-Seed Round for Code Metal, a developer tools startup. - learn more
- B Capital co-led a $12.5M Seed Round for Star Catcher, a startup that aims to develop a space-based grid that captures solar energy in space and distributes it to satellites and other space assets. - learn more
- Mantis VC and Amplify participated in a $140M Series C for Chainguard, an open source security startup. - learn more
- Prominent LA venture capitalist, Carter Reum and wife, Paris Hilton, participated in a $14M Seed/Series A for W, the men’s personal care brand from Jake Paul. - learn more
LA Exits
- Warner Bros. Games acquired Player First Games, developer of the recently launched MultiVersus free-to-play platform fighter videogame. - learn more
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Dental Startup Pearl Gets FDA Clearance for AI-Powered X-Ray Platform
04:57 PM | March 08, 2022
Courtesy of Pearl
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A West Hollywood-based startup has received Food and Drug Administration clearance for what it calls the first artificial intelligence-enabled product that can read dental x-rays and identify cavities, plaque and other dental conditions.
Second Opinion is an AI detection platform created by Pearl, a dentistry startup founded in 2019 to leverage machine learning and AI to help dentists detect problems in otherwise healthy teeth. The startup raised $11 million in Series A funding in 2019 from Craft Ventures and Santa Monica-based Crosscut Ventures.
To develop Second Opinion, Pearl gathered over 100 million dental x-rays from dental practices and academic institutions. The AI platform points out discrepancies found in an x-ray and also serves as a patient communication tool, allowing dentists to show different models of a patient’s teeth and point out problem areas.
“I do think that this is going to become very fundamental to the category [of dentistry] very quickly, and therefore will actually serve as a model for the rest of medicine—for how to infuse and deploy a AI widely at scale, with the ultimate benefit and potential of really elevating the standard of care in a provable way,” Pearl founder and CEO Ophir Tanz told dot.LA.
Pearl’s AI program examine teeth.Courtesy of Pearl
The FDA’s clearance comes amid ongoing skepticism from some within the medical community about the effectiveness of AI applications. A presentation made by the American College of Radiology to the FDA in 2020 reported that 95% of clinicians thought AI was too inconsistent or inaccurate to be used by medical practices. Though the FDA is the largest regulatory body in health care, it has no consistent framework for signing off on a piece of AI that can guide diagnostics, such as the number of reference images used, the diversity of its dataset or its accuracy rate. This has slowed down the clinical adoption rate of such technologies—and while the FDA has proposed a framework to address some of these challenges, nothing has been implemented yet.
Second Opinion’s journey to receiving FDA clearance involved a multi-year process to test every single use case that the platform is trained to do—such as identifying tooth decay, plaque, bone lesions around a tooth and a handful of other discrepancies in otherwise-healthy teeth. Receiving FDA clearance entails a separate and different process than receiving FDA approval; while the former indicates that a product is as good as existing alternatives already on the market, the latter requires a different set of processes for more novel or riskier products to prove that their benefits outweigh potential drawbacks. Tanz noted that the FDA sought only clearance for Second Opinion, and neither required nor asked for approval to allow the product to be marketed in the U.S.
A patient goes under the lights in the dentist’s office.Courtesy of Pearl
Though some critics claim that AI can’t pick up on certain nuances that a human dentist might, Pearl contends that those critics often fail to account for the counter-argument of human error. Through the nonprofit Dental AI Council, the startup commissioned a study that found when presenting a panel of 136 dentists with an X-ray to review, roughly half of them found a cavity, while the other half found none.
Tanz said he is not interested in expanding Pearl’s services into radiology at large, and acknowledged that bottlenecks in the FDA process make it harder to develop, clear and adopt similar technology. Already, the startup has received regulatory approvals from Canada, Australia, the U.K., the European Union and the United Arab Emirates, and is working with roughly 4,000 dental organizations and radiograph manufacturers.
“We think of this as a utility, kind of like water or power,” Tanz said. “You're not going to have any dental practice where this is not going to be powering the radiographic side of things… We really do believe that this will be integrated into every practice in the world in a relatively short period of time.”
Update, March 10: This article has been updated to clarify the difference between FDA clearance and FDA approval, and to specify that Pearl's Second Opinion product did not require FDA approval to be marketed in the U.S.
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Keerthi Vedantam
Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.
https://twitter.com/KeerthiVedantam
keerthi@dot.la
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