The explosive expansion of the tech sector has created a rift in San Francisco, pitting CEOs who set their own rules against hard-working men and women who are getting displaced by soaring costs, rents and evictions.
Political pandering to the tech industry and real estate speculation come at a steep price to working families, as no-fault evictions and lack of affordable housing force many longtime residents to leave. Evictions in 2012-2013 were up 38%, while median rents are up 21% to 57% across the city.
Health care corporations, developers, and tech and bank CEOs thrive by successfully carving out an economic refuge inaccessible to working people. This privilege for the 1% does nothing for the people who actually deserve economic relief, but represents lost revenue that could be used to improve the conditions they live and work in.