BIG stories this week, grist for the mill … FivePoint-City of Hope alliance, $200M centerpiece of Great Park Neighborhoods medical campus; Newport Beach serial entrepreneur Alan True, shifting seamlessly from China-based furniture importer to U.S. food-biz disruptor; OC-borne fintechs Acorns and SAY drawing love and lead investment from BlackRock and Steve Cohen’s Point72; and the “Did I read that right?” story, Chipotle Mexican Grill and Taco Bell-poached boss Brian Niccol getting out of Denver, escaping New York, moving HQ and as many as 250 top-level jobs to Newport Beach … low-cost, low-reg, low-tax OC.
“The move to California will … position us well in the competition for top talent,” Niccol said in a statement.
This week’s issue my 52nd since returning to the productive economy … 52 Thursday marathons, 152 “How did I not know about this company?” moments and 252 lists. Maybe more … and some sublime symmetry, or to complete the headline metaphor, around-the-horn.
Among the first executives I met with upon return was Dean Stoecker, co-founder and CEO of data-analytics SaaS creator Alteryx.
“Why Irvine?” I asked, especially when most of his capital came from Silicon Valley.
“Less expensive, less competition for everything,” Stoecker said of Orange County—acting like a boss who’d hired good people and could enjoy his meal. “And the business culture is better here.”
Other takes, Alteryx and Chipotle’s OC ops are in the 200-250 range, give or take. Could grow. More likely they’ll be among the lynchpins of the ecosystem, high-paying, innovative businesses employing hundreds, not thousands—no Amazon2 here, no Apple2 and maybe … no problem.
And from ex-Blackstone partner and OCTANe CEO Bill Carpou: “A true innovator in the food industry is building their business here in SoCal … (with a) desire to have access to talent, a strength of OC.
And?
“Who says a company is not headquartered where the CEO wants to be!”
“It’s showtime,” LAA Angels Chairman Dennis Kuhl announced last Tuesday morning at the Stadium Club. He didn’t need extra caffeine to be on. It was the annual Light the Night Executive Breakfast of the Leukemia and Lymphoma Society of OC-IE. Kuhl is president of the event and fundraising campaign for victims of blood cancers. Thirteen years. With cell-replacement therapies and other breakthroughs, Kuhl’s now hopeful. “I’ve seen what they’re doing, seen the kids. Miracles. They’re growing up.” Leukemia Cup Regatta, June 2, Bahia Corinthian Yacht Club; Light the Night Walk, Sept. 22, Angel Stadium.
