San Francisco Mayor Daniel Lurie joins 'Power Lunch' to discuss how much AI spending is playing a role in San Francisco's economy.

San Francisco

San Francisco Mayor Daniel Lurie emphasized the city's ongoing economic recovery, highlighting the significant role of artificial intelligence and technology companies such as Databricks, Anthropic, and OpenAI. Lurie noted that these companies have reaffirmed their commitment to San Francisco, contributing to a broader recovery that also includes restaurants and retail businesses.

The mayor outlined several initiatives aimed at revitalizing downtown, including the launch of the Downtown Development Corporation and partnerships with corporate leaders. Lurie also reported a notable decrease in crime rates and stressed the importance of public safety, behavioral health, and reducing bureaucratic barriers to support a diverse and sustainable economic ecosystem.

San Francisco Mayor Daniel Lurie: We are open for business

Let's talk about it with Daniel Lurie. He is the mayor of this city, along with Kate Rogers, covers restaurants and small business. Oh, and by the way, lives here. I do not, Kate. This is a critical interview in many different ways because it's a national conversation. This city is so important. We talk about AI, Mr. Mayor, every day on this very fine network. How much is AI and the spending that goes along with it playing a role in San Francisco's economy? This is the innovation ecosystem of the globe right now with AI. I talk to mayors and leaders across the planet, across the country, of course, and they would die to have one of the companies. We got Databricks, Anthropic, OpenAI, which just recommitted and said they're staying in San Francisco, staying in California long-term. It's having a huge impact, but what we're trying to build here is a broad-based recovery. At City Hall, our job is to create the conditions so that not only these companies can succeed, but our restaurants can succeed. We're stripping away red tape. We're telling everybody that we're open for business. We want you here, and we want you to be part of the community. And it all starts, Brian, with what you said in your selfie video, like clean and safe streets. Public safety is my number-one priority. Crime is down in San Francisco 30%. Crime downtown is down 40%. Our SFPD is doing incredible work each and every day. And Mayor Lurie, we've talked about this over the last several months, but as you mentioned, you wanna build an ecosystem that draws on all of this tech talent, but doesn't over-index to tech. So how are you making that happen and making it sustainable for this recovery to really last? I mean, I think that's, we want everybody here. And so you start with public safety. You address the behavioral health crisis on our streets. We still have people struggling. We get them off the street. And then we strip away all of that red tape that has been built up over decades. We got more restaurants opening. We got retailers coming back to Union Square. Zara is opening a 40,000-square-foot space. We launched the Downtown Development Corporation, which you and I have talked about. We just announced, or we're announcing on today, that we've reached- On CNBC, yeah. On CNBC. This is breaking news right now. Now I'm interested, Mr. Mayor. Now you're paying attention. I saw you falling asleep over there for a second. Now we're at $50 million, and the Downtown Development Corporation's about making sure we have ambassadors out, that we're activating public spaces around Union Square and down to Moscone, power washing, doing all the things that bring people back downtown. Downtown used to account for close to 60% of our tax base when downtown does well. San Francisco does well. It went down to 40%. It's not perfect. There's still work to be done. I think we'd all agree on that. You live here, so please chime in with what you see every day. I don't just ride around in limos. I walk around, and I've spent the time walking around Market and SOMA and Union Square, and the difference, and just, to your point, the feeling of just public safety is so, as a big dude, I'm not particularly worried about it, but it's an issue, and I think you and your team, and we see police cars in positions. How much is corporate America also playing a role in this? I know the partnership this morning announced, corporations are saying, okay, Mr. Mayor, you do this, we'll kick into. Yeah, we have a new entity, also called the Partnership for San Francisco, modeled after what New York City did in the 1970s, and still has a big impact in New York City today. So the partnership has 30, 35 CEOs that are all committed to San Francisco's comeback. They've played huge dividends already. They are making sure to invest in things like the Downtown Development Corporation, and they are helping us think through, okay, what do we wanna be as a city going forward? And it can't just be about AI, but we also have UCSF, we have healthcare, we have it all, our arts and culture will beat any city in the country. Our restaurants will beat any city in the world. We were talking off air about some of our great restaurants. This city, the hope, the optimism, it's back, and we welcome the world.

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