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Billionaire Elon Musk says Twitter the social media company he is in the midst of rebranding as “X” will keep its headquarters in San Francisco despite the “doom loop” the city is facing as big-name businesses head for the exits.

Musk, who led a group of investors in acquiring Twitter that took the company private in a $44 billion deal last year, tweeted Saturday that the companys headquarters will remain in San Francisco despite receiving offers aimed at enticing the company to relocate.

“Many have offered rich incentives for X (fka Twitter) to move its HQ out of San Francisco. Moreover, the city is in a doom spiral with one company after another left or leaving. Therefore, they expect X will move too. We will not,” Musk explained.

“You only know who your real friends are when the chips are down. San Francisco, beautiful San Francisco, though others forsake you, we will always be your friend,” Musks tweet concluded.

San Franciscos economy has suffered from an exodus of businesses and residents in the last few years, creating a “doom loop” in which a local government enters a downward fiscal spiral as its tax base declines.

An urban doom loop involves a decline in workers present in offices in city centers, which results in businesses shrinking their office footprint and rental overhead.

The decline in demand causes real estate prices to fall, which in turn reduces property tax revenue while other sources of tax revenue, like sales tax, also take a hit due to the reduced traffic in downtown areas.

As the overall tax base declines, it becomes harder for city governments to fund public services like law enforcement as theyre forced to make trade-offs that include things like budget cuts or tax hikes to stabilize their finances both of which can drive more businesses and residents to depart if those policies have a negative effect on the economic climate or overall quality of life.

The growing popularity of remote work has accelerated that trend, decreasing the number of workers heading to the office on a daily basis as it becomes easier than ever for workers to live in suburban and rural areas without commuting.

The tech-heavy economy of San Francisco and criticisms of the city governments record on public safety issues have made it a case study in the dynamics that drive urban doom loops.

According to data from the Census Bureau, the population of San Francisco County declined by 7.5% from April 1, 2020, to July 1, 2022.

Commercial real estate firm CBRE released data in early July that showed that San Francisco had an overall office vacancy rate of 31.6% in the second quarter of 2023.

The CBRE report noted that in the last quarter “negative net absorption accelerated due to slow leasing activity, combined with a high volume of lease expirations and several new sublease listings.

This resulted in 1.83 million sq. ft. of occupancy loss, which increased the market-wide vacancy rate from 29.4% to 31.6%.”

Although Twitter isnt relocating its headquarters, the company has sought to shrink its office footprint in San Francisco and faced a lawsuit from its landlord earlier this year over unpaid rent  although the social media company has faced similar suits at offices in Denver, Oakland and London since Musk acquired Twitter and began a broad cost-cutting push to stabilize its finances.

Amid Twitters rebrand to X, city officials filed a complaint and opened an investigation into whether the company had the proper permits to install an illuminated “X” atop its downtown headquarters.

Police had stopped the installation last week but later said there was a “misunderstanding” and that the incident was not a police matter.

City officials say a permit is required to change letters or signs on buildings or to erect a new sign on top of a building.

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Sources: UConn, Toledo’s Candle finalizing deal

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Sources: UConn, Toledo's Candle finalizing deal

UConn is finalizing a six-year deal with Toledo‘s Jason Candle to replace Jim Mora, who left to coach Colorado State, sources told ESPN’s Pete Thamel on Saturday.

Candle went 81-44 in 10 seasons at Toledo, with two MAC titles. He also coached the Rockets to a win in his debut as head coach, the Boca Raton Bowl in the 2015 season. Toledo was 8-4 this season and is awaiting a bowl assignment.

The 46-year-old Candle has been the top target of UConn’s search since the beginning, sources told Thamel. He visited campus Thursday, and the sides are expected to formalize the deal soon.

Mora is coming off back-to-back nine-win seasons at UConn, which hadn’t had one since 2007. Mora led UConn to three bowl seasons in his four years there; the school had been to only one bowl game in the previous 11 seasons.

UConn’s 2025 season (9-3) included a 2-1 mark against ACC schools, with wins over Duke and Boston College. UConn also had the distinction of not having any losses in regulation, as all three of its defeats came in overtime.

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Penn State hires Cyclones’ Campbell as new coach

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Penn State hires Cyclones' Campbell as new coach

Penn State named Iowa State‘s Matt Campbell as its head football coach, the school announced Friday.

The deal, which will go before the compensation committee of the school’s board of trustees for final approval Monday, is for eight years, sources told ESPN’s Pete Thamel.

“Coach Campbell is, without a doubt, the right leader at the right time for Penn State Football,” athletic director Patrick Kraft said in a statement. “He is a stellar coach with a proven track record of success and his values, character and approach to leading student-athletes to success on and off the field align perfectly with the traditions and values of Penn State.”

Campbell, the winningest coach in Iowa State history, met with Penn State officials Thursday night before negotiating a deal Friday. Iowa State quickly moved to hire Washington State coach Jimmy Rogers to replace Campbell.

In its search to replace longtime coach James Franklin, who was fired Oct. 12, Penn State shifted its focus to Campbell after BYU coach Kalani Sitake agreed to a long-term extension Tuesday to remain with the Cougars.

Campbell, a three-time Big 12 Coach of the Year, led the Cyclones for 10 seasons and achieved eight winning seasons, two Big 12 championship game appearances and a Fiesta Bowl victory over Oregon in 2020 for the school’s first top-10 finish.

Campbell, 46, went 72-55 during his decade at Iowa State, becoming its winningest coach last season, and went 35-15 as coach at Toledo from 2011 to 2015.

He will bring strong Midwest ties to the job as a Massillon, Ohio, native who began his college playing career at Pitt before winning three national championships as a player at Division III Mount Union.

This season, Iowa State started 5-0 and climbed as high as No. 14 in the AP poll before a four-game losing streak knocked the team out of the Big 12 title race. The Cyclones rallied with a three-game winning streak in November to go 8-4.

Last year, Iowa State went 11-3 and would have advanced to the College Football Playoff with a victory over Arizona State in the Big 12 title game. The program finished No. 15 in the AP poll after defeating Miami in the Pop-Tarts Bowl.

Campbell and his coaching staff have developed 15 NFL draft picks over the past seven years, including NFL stars Brock Purdy, Breece Hall and David Montgomery. Defensive end Will McDonald IV became the first Cyclones player to be selected in the first round since 1973.

Before Campbell’s arrival, Iowa State hadn’t had a winning season since 2009 and hadn’t played in a Big 12 championship game. The Cyclones won 14 games against AP Top 25 opponents during his tenure.

Campbell had been a serious candidate for high-profile coaching jobs throughout his decade at Iowa State, including the Detroit Lions and USC, but preferred to stay in Ames and continue building a program that had never achieved a 10-win season until last year.

He was earning $5 million per year in total compensation at Iowa State after agreeing to a contract extension through 2032 with the school earlier this year.

Penn State ranked No. 2 in the preseason AP Top 25 and was expected to compete for a national championship in 2025 after reaching the College Football Playoff semifinals last season. Franklin was fired during a three-game losing streak to open Big Ten play that dropped the Nittany Lions out of the Top 25 at 3-3.

Franklin agreed to a five-year deal to become the coach at Virginia Tech on Nov. 17 and took a $9 million settlement with Penn State on the $49 million buyout that he was originally owed upon his firing.

Former Penn State interim coach Terry Smith agreed to a four-year deal to stay on staff and work with Campbell, sources told Thamel, confirming a report by Inside the Lions. Smith is a Penn State graduate who has been a linchpin on the school’s staff for the past 12 seasons. The Nittany Lions won their final three Big Ten games this year to become bowl-eligible at 6-6 under Smith.

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Sources: Mississippi State, Arnett set for reunion

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Sources: Mississippi State, Arnett set for reunion

Mississippi State defensive coordinator Coleman Hutzler has been informed that he is not returning next season, with the Bulldogs expected to target former head coach Zach Arnett to be the next defensive coordinator, sources told ESPN’s Pete Thamel on Saturday.

The move would be the rare reunion of a former head coach returning to the staff of that team.

Arnett is a proven high-end defensive coordinator in the SEC. In three years as Mississippi State DC (2020-22), his defenses ranked in the top five in the conference in total defense, rushing defense and takeaways.

He took over as coach following the death of Mike Leach in December 2022, but Arnett was fired with two games to play in 2023 after leading the Bulldogs to a 4-6 record that season.

After leaving Mississippi State, Arnett has spent the past two seasons as an analyst at Ole Miss and Florida State.

Hutzler had been the Bulldogs’ defensive coordinator since 2024, but Mississippi State has ranked last and second to last in yards per game allowed and points per game allowed the past two seasons.

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