Bay Area

Oakland Mayor Sheng Thao’s Open Letter to Philip Dreyfuss, Recall Election’s Primary Funder

Oaklanders Defending Democracy, a group opposing the recall of Oakland Mayor Sheng Thao, shared an open letter she wrote to Philip Dreyfuss of Farallon Capital, a coal hedge fund. According to Thao’s supporters, “Dreyfuss is the primary funder of the recall effort to remove her from office. He has not explained his motivations or answered one question about why he’s funding the recall or what his agenda is for Oakland.

Published

1 year ago

November 4, 2024

Oakland Post

Oakland Mayor Sheng Thao

Special to The Post

Publishers note: Oaklanders Defending Democracy, a group opposing the recall of Oakland Mayor Sheng Thao, shared an open letter she wrote to Philip Dreyfuss of Farallon Capital, a coal hedge fund.

According to Thao’s supporters, “Dreyfuss is the primary funder of the recall effort to remove her from office. He has not explained his motivations or answered one question about why he’s funding the recall or what his agenda is for Oakland.

“All we know about him is his firm has invested over $2 billion in coal since 2022. Farallon Capital is a global hedge fund with $39 billion capital under management, headquartered in San Francisco, the supporters say.

The effort to recall Mayor Sheng Thao was built on top of an argument about a crime wave, pinning the blame for it on a newly elected Mayor. Now that crime has dropped massively, recall proponents are left with no compelling argument.

Oct. 30

Dear Philip Dreyfuss,

We haven’t met. As you know, I’m the Mayor of Oakland, elected in 2022 to serve and protect this city. Since stepping into office, I’ve tackled rising crime, homelessness, and budget challenges head-on, working tirelessly for Oakland’s future.

You are a hedge-fund manager and coal investor who doesn’t live in Oakland who is trying to buy our city government. But the people didn’t elect you, they elected me to protect them from people like you.

Shortly after my term began, you launched a campaign to remove me from office, pouring in nearly $500,000 of your own wealth. We’ll know the outcome of your campaign on Nov. 6, but let’s be clear about what’s at stake.

Since I took office, crime has dropped over 30%—we’re on track for less than 100 homicides for the first time since 2019, with 15,000 fewer crimes overall.

We’ve invested hundreds of millions into affordable housing, modernized our 911 system, streamlined construction permitting, and are fighting to make Oakland a safer and cleaner city.

If your recall succeeds, Oakland will see four mayors in just five years, another election for mayor the following year and a whopping $10 million cost to taxpayers. In other words, chaos. None of this will impact you because you don’t live here.

Oaklanders deserve to know who you are. I looked into your record and found that the hedge fund you help manage, Farallon Capital, has invested over $2 billion in coal since 2022.

For years, Oakland has stood tall against coal money threatening the health of West Oakland, Chinatown, Jack London and downtown.

Did you know that life expectancy in West Oakland is 7.5 years lower than the County average? Or that our children suffer from asthma at a rate twice as high as the rest of the County?

Philip, instead of trying to use your wealth to hijack our democracy and create chaos in our city you could have put your money where your mouth is.

Instead of investing in coal you could have invested in our young people—created scholarships for our college-bound kids, funded apprenticeships for those who want to learn a trade or helped rid our schools of lead.

Instead, you chose to divide us while you try to buy us. But I’m here to tell you, Philip, on behalf of the 450,000 residents of my city that Oakland is not for sale. NO to coal. NO to chaos. And NO to your selfish and self-serving recall.

Oakland Mayor Sheng Thao, City Hall, Oakland

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Oakland Post: Week of February 25 – March 3, 2026

The printed Weekly Edition of the Oakland Post: Week of – February 25 – March 3, 2026

Published

4 days ago

March 1, 2026

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

2 weeks ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.