Latest news with #SantaCruz-based
Yahoo
29-07-2025
- Automotive
- Yahoo
‘Flying Car' Industry Taxis Toward Takeoff
'We wanted flying cars; instead, we got 140 characters,' venture capitalist Peter Thiel, himself an early Facebook investor and thus key financier of the first social media age, quipped in 2013. Since his remark, the character limit for posts on Twitter — rechristened X under Thiel's fellow PayPal mafia barone Elon Musk — has climbed to 280 (or 25,000 for paid subscribers). As for cars, they're still not flying. A US-based startup, backed by Japan's Toyota, and a freshly capitalized initiative in China could change that as soon as next year. READ ALSO: Trump's 'Biggest Deal Ever' With EU Prompts Yawn From Wall Street and Can Tesla and Samsung Find Salvation in Each Other? Shares to the Sky 'Flying car' is a colloquial term best associated with futures imagined by sci-fi filmmakers. But outside the dystopian cityscapes of Blade Runner or The Fifth Element, here on Earth, they go by a much wonkier industry term: electric vertical take-off and landing (eVTOL) craft. There's also no futuristic hovering technology — current eVTOLs in development by Santa Cruz-based, Toyota-backed Joby Aviation and Chinese carmaker XPeng get off the ground with old-fashioned propeller and rotor technology. In both cases, that has been more than enough to send their shares into liftoff: Joby, which already has a small fleet of air taxis conducting test runs, last week announced plans to expand its California facility to build 24 of its eVTOL craft per year. It also plans to pursue commercialization by seeking certification from the Federal Aviation Administration and expand production to an Ohio facility where it hopes to mass-produce as many as 500 crafts every year. Propping up the effort is 22% shareholder Toyota, which has invested roughly $900 million in the publicly traded startup (shares are up 122% this year). And then there's Xpeng Aeroht, Xpeng's flying car division, which earlier this month said it secured $250 million in Series B funding to expedite the mass production of its Land Aircraft Carrier, a Cybertruck-resembling all-terrain vehicle with a detachable, helicopter-like air module. Xpeng Aeroht is planning mass production of the vehicle, commencing next year in Guangzhou, with a roughly $280,000 price tag and a facility with a projected annual capacity of 10,000 units. Its parent company's shares are up 59% this year. Toyota, meanwhile, has expanded its exposure to the segment as another startup with its backing, Japan-based SkyDrive, obtained initial certification for an eVTOL earlier this year, which could eventually lead to commercialization. The barriers to adoption vary, depending on the market. For example, Xpeng Aeroht produces a smaller eVTOL, the X2, which is technically for sale in Australia, but regulatory uncertainty means using one legally may be at least a year away (and require a pilot's license). Dubai's the Limit: Joby had initially targeted offering commercial passenger services in Dubai, where Xpeng Aeroht tested an eVTOL back in 2022, by the end of this year. That timeline has been bumped to early 2026, seven years after Blade Runner but well ahead of The Fifth Element's setting in the 23rd century. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Eater
30-06-2025
- Business
- Eater
The Saddest Restaurant Closures to Know in Los Angeles, June 2025
Los Angeles's restaurants continue to face difficult headwinds, starting in 2020 with the onset of a global pandemic and exacerbating with the Hollywood labor strikes in 2023 , which led to an industry-wide slowdown that's continued into 2025. From the lingering impacts of the Hollywood strikes to adverse weather and increased costs (labor, rent, ingredients, etc.), many variables continue to batter restaurant owners who operate on razor-thin margins. Los Angeles restaurants also continue to struggle with the impact from the 2025 fires , including slow business and devastating property loss. Here are notable restaurant closures for June. For more closure news, visit our 2024 round-up . Nusr-Et— Nusret Gökçe, better known as Salt Bae, has sprinkled his last steaks in Los Angeles. The Beverly Hills outpost of Gökçe's global steakhouse chain, Nusr-Et, suddenly closed on June 4, four years after opening in 2021. The closure comes as the restaurant chain eyes further international expansion into markets including Mexico City, Rome, and Ibiza. Bang Bang Noodles— Chinese hand-pulled noodle shop Bang Bang Noodles has shuttered its location in Culver City's Citizens Public Market. Born as a pop-up in 2020, the Culver City location was the first permanent outpost for Bang Bang Noodles and its signature tingly cumin lamb noodles tossed in chile oil. The Downtown location of Bang Bang Noodles remains open. Verve— Verve Coffee Roasters closed its Downtown LA location on June 1, marking the end of a decade in the neighborhood. The Santa Cruz-based coffee roaster opened its Spring Street cafe in January 2015, serving a signature lineup of coffee drinks made with its own beans, as well as pastries, and juices from Juice Served Here. The cafe's closure was announced in an Instagram post, which reads, 'While the evolving landscape of Downtown has made it no longer sustainable for us to continue operating at this location, we remain deeply committed to our LA community.' Luckily, Verve has another location just a few miles away in the Arts District. Here's Looking at You— Groundbreaking restaurant Here's Looking at You closed on June 13 after almost a decade on Sixth Street in Koreatown. The restaurant, opened by the late chef Jonathan Whitener and Lien Ta, has occupied its corner of Los Angeles since 2016, serving an ever-evolving menu of cross-cultural dishes like uni panna cotta and salsa-negra-crusted frogs' legs alongside an inventive cocktail program to match. The closure coincided with the end of a 10-year lease on the building. Elf Cafe— Echo Park restaurant Elf Cafe closed after 19 years on June 1. Scott Zwiezen and his bandmates Astara Calas and Evan Haros, first opened Elf as a vegan restaurant in 2006, serving a Mediterranean-ish menu, with dishes like a vegetable tagine and morel risotto. In 2020, amid COVID-19, Elf suspended operations indefinitely, transforming into a space for roving pop-ups, before reopening in early 2023. Zwiezen says that over the years, the restaurant has shifted into a place that people only go to for special occasions, instead of a daily stop, though he doesn't point to one specific reason for the closure. La Azteza Tortilleria— Legendary Boyle Heights burrito stand closed its original location on Caesar Chavez Boulevard on June 13. But not all hope is lost — the restaurant has relocated permanently to its second location less than two miles away on Atlantic and Beverly Boulevards. See More:
Yahoo
29-05-2025
- Business
- Yahoo
Popular Santa Cruz brewery opens first San Francisco location
(KRON) — A popular Santa Cruz-based brewery is opening its first location in San Francisco. Humble Sea Brewing Company opens its taproom and beer garden on Thursday, May 29 at Pier 39, the company announced. Humble Sea's brewery will be located next to The Crystal Shop and across the Swiss Louis Italian & Seafood Restaurant. A ribbon-cutting ceremony will be held at 3 p.m., and the public is encouraged to join and 'raise a glass with us,' Humble Sea wrote in a press release. The grand opening is until 6 p.m. 'The best computer store in the world' set to open first Bay Area location KRON4 first reported on Humble Sea coming to San Francisco back in May 2024. At the time, there was a 'coming soon' sign. However, the brewery cited city permits as a reason for the delayed grand opening. Humble Sea was founded in 2014 and has risen in popularity in the Santa Cruz region and the Bay Area, amassing more than 63,000 followers on Instagram. There are two Bay Area locations: Pacifica and Alameda. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Eater
28-05-2025
- Entertainment
- Eater
Downtown LA's Era-Defining Third-Wave Coffee Shop Is Closing After a Decade
Verve Coffee Roasters is closing its Downtown LA location on June 1, marking the end of a decade in the neighborhood. The Santa Cruz-based coffee roaster opened its Spring Street cafe in January 2015, serving a signature lineup of coffee drinks made with its own beans, as well as pastries, and juices from Juice Served Here. The cafe's closure was announced in an Instagram post, which reads, 'While the evolving landscape of Downtown has made it no longer sustainable for us to continue operating at this location, we remain deeply committed to our LA community.' Verve's roastery and cafe, located just a few miles away in the Arts District, will remain open, as well as its other locations across Los Angeles on Melrose, West Third, and in Manhattan Beach. Mahjong and sushi at General Lee's Mahjong Underground is launching its first Mahjong and Chow night at the Arts District location of Kombu on June 8. The ticketed event will come with a shared tasting menu and a drink of choice, plus three hours of open play. Tickets are available through Mahjong Underground. Summer dinner series at the Benjamin Melrose restaurant the Benjamin is kicking off a guest chef dinner series on June 22. Evan Funke will cook at the inaugural event, followed by Michael Voltaggio in July, and Jon Shook and Vinny Dotolo in September. Additional dinners and participating chefs are set to be announced. Tickets for the dinners will be priced at $99 and include a multi-course prix fixe menu and a limited-edition T-shirt. Tickets for the first event will be available on Resy starting at 9 a.m. PST on May 29. Gabby Windey's LA itinerary Former Bachelorette star and Traitors champion Gabby Windey shares her ideal Sunday with the Los Angeles Times . Mornings for Windey start at Silver Lake coffee shop Lamill, before heading to the farmers market with her wife, Robby Hoffman, for tamales. The rest of the day's ideal stops include snacks from Botanica, a movie at the Americana, and sushi from Kombu or Sugarfish. A new Beverly Hills matcha destination Cha Cha Matcha is opening a new flagship cafe in Beverly Hills on May 30, adding to its current lineup of cafes in Venice, Century City, and West Hollywood. The new cafe will introduce a few firsts for the brand, including an on-site matcha mill which guests can watch. A few drinks will also debut at the cafe, including the Coconut Cloud with coconut water and matcha cold foam, and a Japanese-style cold brew. At 10 a.m. on opening day, the first 50 guests in line will receive a free tote bag and beverage of choice. Sign up for our newsletter.
