Ted Gullicksen, executive director of the San Francisco Tenants Union, said he fears that the techies are permanently inheriting the city and won't pack up and leave as they did after the 2000 dot-com crash.Given that it's San Francisco, I wonder how many of the new snobs are Dems-and if they'd be willing to "share the wealth..."
"In the first boom, many of those companies went belly up. Now we are talking about some pretty well-established Internet companies such as Facebook and Google. It's hard to envision them going belly up, and that's what rescued us the first time around," Gullicksen said.
Unlike in previous booms, the tech industry isn't creating as many middle-class jobs or as much goodwill. The gap between Silicon Valley's high and low earners is widening, with average per-capita incomes going up while median household incomes have fallen for the third consecutive year, according to Joint Venture Silicon Valley, a private group that publishes an annual report card on the region.
In a region that lays claim to some of the world's wealthiest companies, food stamp participation has hit a 10-year high, and homelessness has increased 20% in the last two years, the group found.
Wednesday, August 14, 2013
Enter The Techies
Maybe we really are headed for Elysium, after all: