If you've spent any time in San Francisco, then you know traffic is bad and parking is even worse.
According to a new company named Luxe Valet, drivers in San Francisco now spend an average of 20 minutes looking for an available parking spot. So, born of his own frustration, Luxe CEO Curtis Lee got an idea.
"I live in San Francisco," Lee told CNBC. "I own a car, and I realized that a lot times, there wouldn't be a great way to get from Point A to Point B. I'd just be circling around the block."