I don't know what it means for a geographic region to "have vision". Either way, SV was the birthplace of an incredibly large portion of the ventures and entrepreneurs that created what we refer to as "modern technology".
And I'm saying that as someone who is often very critical of current SV and NorCal policies in general.
> When you see some houses filled with 7-8 occupant because they can't afford rent, you know this is not sustainable.
Sure, but what does that have to do with "vision"?
The area experienced an enormous, extraordinary amount of success, which had some undesirable effects, particularly for low-income residents. It should be addressed, and there are many issues in SV current, some of which are mentioned in the article.
Still can't take away from the incredible breakthroughs that happened in the area.
It’s actually very hard. Most available land has already been built up. Cities are very strict about zoning and not allowing additional development. Tech companies can’t just steamroll the local governments. It’s very much a poor governance situation.
I agree with your conclusion, I just don’t believe Big Tech can fix it so easily.
Palo Alto has blocked new housing for the last decade. They enforce strict zoning that has curtailed commercial development too.
Not quite. The rule is that for offices in the Village at San Antonio Center project meals within an office cannot be subsidized more than 50% on a regular basis. Meals that are in restaurants that are open to the public can be subsidized as often and as much as the office wants to.
That development includes several restaurants. I expect Facebook will make arrangements to use them to provide Facebook's free meal benefit at that development.
That's not exactly a good thing. One day it's sponsoring cheap apartments, the next it's dissolving labor laws.
Leadership is saying “I’m willing to lose some of my home price appreciation in the short term to keep the ecosystem thriving”
Repeat that 2 or 3 times, and the problem goes away quickly..
From the literal gold rush in the 1850s to the Gilded Age inventions of the 1880s-1910s to the agricultural migration of the 20s and 30s to the WW2 construction boom to the post-war nukes & ballistic missile boom to the hippies & beatniks of the 60s to the integrated circuit to the microcomputer to the Internet to the mobile phone, the Bay Area's always been defined by its ability to impoverish the folks who found paradise in the last wave in favor of fully capitalizing on the next wave. It does this largely by attracting young immigrants from all over the world who are willing to put up with shitty conditions and work themselves to the bone for a few years so that they can sock away a few dollars. Those that succeed in this usually go elsewhere to retire or raise a family.
There's no evidence that this conveyor belt has stopped or slowed down - 2 of the 3 largest Bitcoin exchanges in the U.S. (Coinbase and Kraken) are in SF, I still meet plenty of starry-eyed 20-somethings who are working long hours thinking they're going to get rich, and I also know plenty of people who've made their low-millions working for a big tech company and are now moving to an area where that will let them retire at 35 rather than barely afford a small house.
News articles always seem to point out that the quality of life is shitty in San Francisco and the economic drivers are unsustainable. That's always been the case. The Bay Area's specialty is in making an industry out of unsustainability; the culture here has gotten very good at finding the next exploitable resource and exploiting it before the rest of the world realizes it's important, and then encouraging people to move on once it's no longer profitable.
I personally don't think there has ever been any real indication that the Bay Area would become utopian. It is just that there used to be a "flaw" (relative to US society) where technology was undervalued, so opportunities were cheap. That has now been corrected, so you are paying for those opportunities.
Maybe there's not much in terms of a startup community or VC funding, but I can walk to the grocery store, to the craft beer pub, to the beach (or take a cheap bus/taxi). Plus, I have a nice new apartment for less than the cost of utilities back in the US.
Please elaborate. I'm sure everyone looking to turn their little Silicon Alley, Meadows, Walkway into a thriving techno metropolis is all ears.
What people are lacking isn't some phony experts but time, space and motivation. Give people that in ample supply and the rest will sort itself out.
I hear Seattle is the place to be, go there.
Americans wildly underestimate the economic power of the United States. There are dozens of "small" U.S. metros that match the productivity of Belarus.
And those are the small metros. There are dozens more totally ignored "flyover dumps" -- think Cleveland, St. Louis, Kansas City, Columbus, etc -- with GDPs 3 or 4 or 5 times that of Belarus.
And only then do you get to an "irrelevant, dying" place like Detroit, whose GDP is ~$280 billion (about 6x that of Belarus).
Most of these comparisons shouldn't ever leave the gate.
Some developer in Glasgow tried selling us a parking lot - we did the math and there was no way it would generate enough income to collect on its price. We were better off directing our investment where the math worked (emerging markets, etc).
The parking lot had a higher price then an entire chemical plant in Kenya that had a monopoly on supplying life saving generic drugs to 3 countries in Eastern Africa.
A lot of valuation in the US / UK is based on the dollar having reverse currency status, so don't get on your high horse about the US being more 'productive'.
It didn't stop the glasgow parking lot gaining it value afterwards, but as the saying goes - "The market can stay irrational longer than you can stay solvent".
I'm not on a horse of any size.
It's more difficult to find PPP data for cities than it is states, but here's the latter:
https://en.wikipedia.org/wiki/Comparison_between_U.S._states...
And for Belarus:
https://tradingeconomics.com/belarus/gdp-per-capita-ppp
You're right to notice that it's a better measure, but it still favors the spirit of my argument.
The suggestion that these two things aren't related is an extraordinary claim.
Just joking. [In every joke there is a portion of joke..]
There is a lot of money sitting at Apple, Google, and the rest. They could have easily use their weight, reach and influence to envision and build an entire tech city community. It's not that hard.
If a few lobbyist in DC can send the country into all kinds of wars, why can't SV companies use their weight to do something that can resolve this problem. It makes perfect business sense to me.
Instead, we get apartments build adjacent to CalTrain to act as sound insulation or they would not get approved. This is ridiculous.
To have a habitable area with a decent quality of life, you need all types of workforce. Teachers, restaurant workers, gardeners, etc. Where are these people going to live? When you see some houses filled with 7-8 occupant because they can't afford rent, you know this is not sustainable.
I've lived in the Bay Area since 1991. These days, for my work, I spend a lot of time working with our remote team in Minsk, Belarus. The thought of coming back each time to SV is distressful if it wasn't for the loved ones back home. There are many tech guys here in Belarus who dream of coming to SV. I remind them their quality of life is far far better than what they would get in SV.
So unless we get some true leadership in SV, that has a vision of making the Bay Are more habitable instead of trying to think about how to colonize Mars, this is going to get worse. The once almost utopian Bay Area is becoming rather dystopian.