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San Francisco's Tech Boom and Political Divide: Can the City Survive?

Financial Times Companies •
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Jonathan Weber chronicles San Francisco's transformation from progressive haven to tech epicenter in his new book examining three decades of urban upheaval. The narrative traces how the city's countercultural roots collided with Silicon Valley's profit-driven expansion.

Tech's economic footprint exploded from just 2 percent of jobs in 1991 to over a third by 2019, yet this growth coincided with worsening homelessness and municipal dysfunction. Weber argues that internet pioneers and progressive activists shared idealistic visions initially, but the tech sector's evolution into "profit-maximizing machine" created irreconcilable tensions.

The pandemic backlash mobilized tech wealth against progressive policies, uniting newly rich entrepreneurs with established family fortunes and Asian-American communities. Former mayor Willie Brown and investor Ron Conway emerge as key figures in this political realignment.

Ev Williams captured the industry's self-reflection: "tech is a very selfish industry" that failed its civic responsibilities. As the AI boom replaces dotcom culture, Weber questions whether San Francisco's distinctive character can withstand this latest wave of techno-capitalism.