SV would have the best public transit on earth and wouldn’t have any homeless or housing problems.
They should. All that would be required is raising municipal taxes.
There’s nothing stopping Silicon Valley companies from migrating to other areas in California or even other states. I’m sure there are more than enough places that would be willing to throw out ridiculous tax advantages to lure big companies there.
The state is very enthusiastic about taking the money out of the city but not so interested in investing much back into any transportation infrastructure to support its' cash cow.
Norman Mailer once ran for Mayor of NYC and part of his platform was for NYC to secede from NY State:
'New York City would be split off from the rest of New York State, and achieve independent statehood as the 51st State of the U.S. The campaign sought to free the city from the control of "upstate legislators who don't care about the city but control our schools, police, housing, and money."'[1]
And perhaps more topical is that part of that platform was also to ban all cars from Manhattan except Taxis and buses. And this was in 1969 :)
[1] https://en.wikipedia.org/wiki/New_York_City:_the_51st_State
Remind me how much money is in NYC?