Last week it was announced that WordPress.com (which is what I use for this blog) had purchased Tumblr for around $3 million. This is, of course, after Yahoo had purchased it for $1.1 billion in 2013 and later wrote it down, having never figured out how to monetize it. Yahoo lost its shirt on the investment. I am sure you've probably seen some of the headlines and searing commentary online:

I used Tumblr every day for more than 5 years. I started this daily blog on it because I had already been using it to share and collect photos. At one point Tumblr had more active users than Instagram and Pinterest combined. But eventually it lost its way. Yahoo (and later Verizon by way of its acquisition of Yahoo in 2017) didn't know what to do with it.

And so at the beginning of this year I said goodbye to Tumblr and switched this daily blog over to WordPress. A big part of that decision had to do with the fact that Tumblr was never really designed for long-form blogs like this one and its mobile support was even more appalling for this use case. It was impossible to write on an iPad. Switching was the right decision. I should have done it sooner.

But now Tumblr is owned by WordPress.com. At $3 million, it feels like they're almost starting again from scratch. Maybe they'll figure Tumblr out. Or maybe they won't.

Fred Wilson made an interesting remark in his recent post about the current "IPO bonanza" that is taking place in the tech space. He is, of course, talking about the recent IPO of Lyft, the recent S-1 filings from Pinterest and others, and the expected filings from Uber, Airbnb, and so on.

After listing the benefits of going public, he went on to say that this bonanza will surely also mean that it is going to become even more unaffordable in the Bay Area. Part of this is perhaps self-serving, since he operates a VC firm out of NYC. (Take your money and move to NYC.)

But the data suggests that there is truth to this.

When Twitter when public in 2013, it was estimated that it created some 1,600 millionaires. This is great for the local startup ecosystem as many of these beneficiaries could go on to found their own companies and create a whole new batch of jobs. The money gets recycled.

But what does it do to the local housing market -- especially a supply-constrained one like that of the Bay Area where it is difficult to build?

In 2018, Barney Hartman-Glaser, Mark Thibodeau, and Jiro Yoshida penned a paper called, Cash to Spend: IPO Wealth and House Prices. In it, they looked at the impact of IPOs on local home prices in California from 1993 through to 2017.

What they found, among other things, was a "positive and significant association between local house price changes and firms going public." The price increases were also found to be the greatest the closer you get to the headquarters of the firm that just went public.

If you'd like to download a copy of the paper, you can do that here.

If you love cities, then I’m willing to bet you probably also love maps.

I just stumbled across a neat tool called Map Stack. It was created by San Francisco-based Stamen Design—probably one of the leaders in beautiful maps. The tool is one part Photoshop and one part Mapbox, and it allows you to quickly create an endless array of cool looking maps. Like these:

I spent 2 minutes and made a watercolor version of Toronto’s financial district:

This tool aside, I also really like Mapbox. When we were designing and building Dirt, we ended up using them for our map underlay because we wanted something beautiful and we didn’t love Google Maps for that reason. Though we missed Google Streetview, we were happy with the decision. Other apps using Mapbox include Foursquare and Pinterest.

Last week it was announced that WordPress.com (which is what I use for this blog) had purchased Tumblr for around $3 million. This is, of course, after Yahoo had purchased it for $1.1 billion in 2013 and later wrote it down, having never figured out how to monetize it. Yahoo lost its shirt on the investment. I am sure you've probably seen some of the headlines and searing commentary online:

I used Tumblr every day for more than 5 years. I started this daily blog on it because I had already been using it to share and collect photos. At one point Tumblr had more active users than Instagram and Pinterest combined. But eventually it lost its way. Yahoo (and later Verizon by way of its acquisition of Yahoo in 2017) didn't know what to do with it.

And so at the beginning of this year I said goodbye to Tumblr and switched this daily blog over to WordPress. A big part of that decision had to do with the fact that Tumblr was never really designed for long-form blogs like this one and its mobile support was even more appalling for this use case. It was impossible to write on an iPad. Switching was the right decision. I should have done it sooner.

But now Tumblr is owned by WordPress.com. At $3 million, it feels like they're almost starting again from scratch. Maybe they'll figure Tumblr out. Or maybe they won't.

Fred Wilson made an interesting remark in his recent post about the current "IPO bonanza" that is taking place in the tech space. He is, of course, talking about the recent IPO of Lyft, the recent S-1 filings from Pinterest and others, and the expected filings from Uber, Airbnb, and so on.

After listing the benefits of going public, he went on to say that this bonanza will surely also mean that it is going to become even more unaffordable in the Bay Area. Part of this is perhaps self-serving, since he operates a VC firm out of NYC. (Take your money and move to NYC.)

But the data suggests that there is truth to this.

When Twitter when public in 2013, it was estimated that it created some 1,600 millionaires. This is great for the local startup ecosystem as many of these beneficiaries could go on to found their own companies and create a whole new batch of jobs. The money gets recycled.

But what does it do to the local housing market -- especially a supply-constrained one like that of the Bay Area where it is difficult to build?

In 2018, Barney Hartman-Glaser, Mark Thibodeau, and Jiro Yoshida penned a paper called, Cash to Spend: IPO Wealth and House Prices. In it, they looked at the impact of IPOs on local home prices in California from 1993 through to 2017.

What they found, among other things, was a "positive and significant association between local house price changes and firms going public." The price increases were also found to be the greatest the closer you get to the headquarters of the firm that just went public.

If you'd like to download a copy of the paper, you can do that here.

If you love cities, then I’m willing to bet you probably also love maps.

I just stumbled across a neat tool called Map Stack. It was created by San Francisco-based Stamen Design—probably one of the leaders in beautiful maps. The tool is one part Photoshop and one part Mapbox, and it allows you to quickly create an endless array of cool looking maps. Like these:

I spent 2 minutes and made a watercolor version of Toronto’s financial district:

This tool aside, I also really like Mapbox. When we were designing and building Dirt, we ended up using them for our map underlay because we wanted something beautiful and we didn’t love Google Maps for that reason. Though we missed Google Streetview, we were happy with the decision. Other apps using Mapbox include Foursquare and Pinterest.