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Real estate firms pivot to energy development amid booming data center demand
Brendan Wallace has a lot on his mind lately. Wallace is the co-founder of Fifth Wall Ventures, a nine-year-old proptech venture firm with $3.2 billion in
Proptech has also taken its slings and arrows in recent years, partly owing to high-fliers whose fortunes turned fast, like WeWork, which emerged from bankruptcy last June following a failed IPO and massive restructuring. He also sees a huge opportunity to help Fifth Wall’s limited partners more aggressively seize on the tech industry’s demand for data centers – and the energy required to fuel them. This is a crucible moment for Los Angeles, and there’s going to be a lot of reflection on the other side of this, with the big political and economic questions that California has been grappling with for a long time coming into the fore.
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