These tech people are pushing out communities of color in Oakland. These tech people have killed a thriving city and have destroyed the proud black history that once dominated the Fillmore and West Oakland.
I've lived in SF for the past 20 years. All of my children and their friends had to move away when they reached adulthood. It's a different city. It's a city of the rich and the poor. I am the last middle-class man standing.
@@ocmetals4675 I was lucky enough to move here in 1999 when a detached house was still affordable to middle-class people. So we bought a place then. It's a great city, always has been. It's just a lot more expensive now.
G C3 Yup shoulda played classical Bethoven and Bach homie. Deez foolz don’t be knowin what be up. Wut wut yeet yeet. 😎 Ain’t no body be listening to no dam hip hop in da hood. Sheeeit.
J Smith If you think this is the "hood" then you should be very thankful. You've had a sheltered life. Btw, most of these rappers have more money than anyone in these comments, especially for a video like this.
I love how she's taking about how the new money has given the neighborhood a makeover. The neighborhood she's talking about is inhabited exclusively by rich people.
@@albundy3929 That's not actually true, a lot of people with degrees working hard for these tech companies aren't making enough to pay their rent some even live 2 hours from the city and commute 2 or 3 days a week because they can't afford to stay in the city. Several people choose to work from home. You have to go to San Francisco and see it in person how people are making $100k+ and are sharing 2 bedrooms with 3 or 4 people because the rent is too high and it's not affordable. Anywhere else $100k is amazingly decent but in San Francisco it doesn't stretch too far on top of everything being extremely high around the area because retailers also have to pay their hiked rent. Almost 60% of the parks are filled with homeless people who actually have jobs but can't pay rent. It's really horrible. San Francisco barely has a nightlife because people can't afford it. I've had friends leave their high paying jobs and moved to NYC which is also expensive but more affordable with reliable transportation. NYC is highly gentrified but you get a balance when it comes to cheaper food, easy access to different neighborhoods etc. I'm seeing more and more San Francisco natives moving to my hometown in NYC.
Hipster bike shop: rent was great in 2011 when we began our company (and all this gentrification).. Now all our cycling customers have had to move out!! And we're next?!
It’s so hilarious when the people who cause gentrification are upset when gentrification attacks them. Not so fun being on the other side of the fence is it?
@Null F going down hill meaning no one except millionaires can live a good life here anymore. neighborhoods get "improved" and yet people in those very areas are living on the streets. how is that improvement?
How does the FT not include the basic facts about how San Francisco has the most DRACONIAN zoning laws in the nation, which has led to no new units being built in a growing market?
That and the insane amount of NIMBYism in SF. The home owners go all NIMBY to justify that no new housing be constructed because "ooh that new building will cast a shadow on the park", using it to shield their true intentions i.e the value of their house going down if more housing is constructed. Talk about hypocrisy!
Joanne Woodward You need to wake up or visit a city thats actually non stop building. Like Toronto. SF construction is a joke compared to that. You’d be lucky to see construction in actual nice parts of town.
@Joanne Woodward the facts show that even if you see some housing being built it's not anywhere close to enough. If they add only 1 new housing unit for every 6 new jobs they will continue to have big problems.
Well like most things, "it depends." Obviously it can get so bad that low-income workers are displaced and homelessness increases, but it can also be good since it can bring in significant tax revenue for the government for city improvements, bring in talented professionals (doctors, lawyers, engineers, and teachers), and lower the crime rate. There are other factors like how fast gentrification is occurring, and to what degree. A lot families that used to live in Little Italy and Chinatown in Manhattan, New York City, NY moved elsewhere, making those parts of town more like tourist attractions, but they didn't move that far, and the "New Little Italy" in the Bronx, and "New Chinatown" in Flushing, Queens, NYC have preserved those cultures and are relatively thriving. Part of the blame relating to the cons of gentrification is due to poor city planning, but it's not like there's always a precedent to learn from, and it's easy to judge people in hindsight.
Lol this is what happens when you destroy the middle class you’re pretty much just left with ultra mega super rich people that live in Palo Alto or Atherton and there’s only around a grand total of 70,000 of those people. They’re very good at disguising themselves as middle class too as they’ll live in 20 million dollar houses and drive 12 year old Honda Pilots and Toyota Priuses and 15 year old Accords/Camrys. Of course many do drive Tesla’s, Mercedes, Porsche etc. too but that’s normal for them.
Paul Den None. The city and the Bay Area are dying a slow death. Push out the middle class entirely, and what you’re left with is a slave labor society working for the super rich. It will end up like Detroit.
saenzfiction I hate how people think that all rich drive Mercedes G Wagons or Range Rovers when it really isn’t the case as many wealthy people tend to be super frugal.
I was in SF for an interview 5+ years ago in Mission District. They put me up at a cool lil hotel just about 8 blocks from the site. I walked to the place and couldnt believe that such an incredibly beautiful city had me literally stepping over dozens+dozens of homeless folks - some of whom were plain mean and rude to me - I now know I dodged a HUGE bullet not getting that job, it only paid ~$60k/yr which was decent for me at that stage in my career - could you imagine making that there now?? I would be homeless too...sad turn of events for a world class city.
Those bike store owners talking about gentrification😂🤦🏾♂️....you see how it feels now...and like dude y’all were literally the start of the gentrification of that area😂
@Bad Company given your arrogance, you're clearly the stupid one and I can tell you don't know what gentrification is. Funny how you say Cali has the dumbewt people, when in reality the smartest people flock to go there and Silicon Valley runs the world and all advancements people use come from there... And this is coming from someone who hates Cali. It's that you're trailer trash and have to hide behind your keyboard.
Having lived in SF prior to the tech boom and still with family there, I have to say the tech people have created a gentrified city for themselves but have done little for any others. The difference is stark. You have a beautiful city turned into a giant yuppie district and usurping all that is good from SF. It’s like a parasite.
Totally agreeing with what you said. I lived in the Bay Area for 27 years from 1989-2016 and had watched how San Francisco changing from a city of culture, activism, and humanism to a city of money and greed brought on by the "tech invasion". I remembered watching all the new and expensive residential constructions popping up left and right (to replace the older buildings) and thought to myself "Wow, San Francisco is becoming like Manhattan...." I used to feel very fortunate and proud to live in San Francisco, for its beauty, diversity, and community living but that San Francisco is long gone.........
The success eventually consumes itself. Too much power for corporate and slow acting government in town planning: a perfect combination for short lived success!
@@johnbeer5242 my cousin worked for Yahoo.com in the 2000s. Tech execs & VIPs would expense $1000s then go to "lunch". 🤫... he said it was not uncommon for Google, Apple, IT guys to waste $2000, 5000 in a few hours.
I work in San Francisco, I blame the Cities of San Francisco and Oakland, for making it so difficult for housing developers to build new homes. It's a supply and demand issue, build more housing units!!
Th_iii _nk That’s not a problem. That’s a good thing, but that doesn’t negate the fact that no equity is being built and you can’t use renting as a tax write off.
Th_iii _nk Flexing what? I’m a retired Real Estate Developer in SF, own multiple single family homes (all paid off) with tenants paying me silly monthly rents. I love them all 🥰❤️😍😘 I still live like I’m poor, and would never throw money away even if I were at the level of some billionaires. With that being said, those who “can afford” to pay silly rent prices and don’t buy are throwing money away. 👉🏼 That was my point. 👈🏼 I never said people don’t care or care. I hope people don’t care forever so my rentals keep raking in easy money.
@Roy Roots Better yet, if they truly value someone making their coffee for them, they will pay a rate for such a service that the market can bare and this whole thing reverses itself
Tech companies not encouraging employees to spend money in the local economy. Yeah man, that is the point of tech. Buy stuff online and save money over brick and mortar and that includes bicycles. 💯
San Francisco's problems are deeper than big tech companies moving in. Housing is expensive because there wasnt enough to begin with and still isnt. It's the citizens and government responsibility to build more housing not the tech company to pay out more.
While no one is talking about mortgages, a 15-year loan for a basic home in SF will cost you over $8,000 per month. $8,000 in after-tax income - who can afford to live there? Techies who marry each other and make over $300K per year gross (and even with that they're living paycheck to paycheck), or rich business who play in the hundreds of millions. I remember seeing the 33 Tehama apartment complex in SF a few weeks ago. It looked like a nice place, akin to some brand-new apartments I've seen near colleges. Want to know how much a 1 bed, 1 bath, 500 sq ft apartment rents for? $4,800 PER MONTH for a 15 MONTH LEASE. Insane!
I think your description isn't far from the truth. I visited SF in 2008 and walked into Golden Gate Park and there seemed to be homeless people everywhere there. It was unsettling.
They're extremely naive as business owners to hope companies would encourage employees to spend their money in their shop. Move or close shop. Business 101.
San Francisco is far less cookie cutter than Phoenix. Phoenix has hardly anything older than 100 years old in that city. They've should've preserved all of that. Las Vegas is the absolute worst. They've been swinging the wrecking ball for the last 30 years with no respect for its history.
I know Phoenix couldn't hold a candle to sf. Sf is a real city. Around downtown feels like the land of the endless franchises. Gives it a slightly cookie cutter feel
Anyone else find it interesting that some of the most “blue” areas (where local government rail on income inequality) has the worst examples of income inequality ?
Reason TV did an interesting piece about housing crisis in San Francisco. Too much regulation and a fear of changing the culture in the neighborhood. I would like to see building regulation get relaxed, but not in build quality of structures.
Don't paint everyone into the same category or divide the political spectrum into 2 colors. Views within blue still vary throughout. Neoliberals are in the DNC and are free market capitalists favoring more privatization and deregulation. The DNC can speak of income inequality but still cater to the rich. Progressive leftists like Bernie and AOC are looking for more socialized programs and want to regulate and tax corporations to ensure income inequality doesn't further increase.
And like WeWork, when the national conscious realizes these IPO's are grossly overvalued, and all that IPO/Real Estate speculation comes crashing down? San Francisco should get really interesting at that point in time.
This has been coming a long time. My friend afforded college in the Bay Area in the ‘80s by renting a walk in closet. Another in the ‘90s rented a tiny single car garage despite working for PG&E. There were ambulatory schizophrenics on the streets of Palo Alto and working people in Silicon Valley who lived in their cars in their company parking lots as they could afford the rent but couldn’t afford the move in (3 times the rent). Now suddenly its OH LOOK.
New York is done too, the Bronx and S.I. are being converted into wealth havens as we speak, Brooklyn and Queens have been expensive for years now, and you might as well forget Manhattan.
@@willbo6416 As long as you have a roommate you're straight. There's affordable places in Queens. Just have to sacrifice being far, Staten Island is cheap, but yeah if you don't have an actual goal or hustle, you'll struggle and lose. I personally hate that NYC is turning into a city that's filled with Gigs. The big cities are screwing themselves for sure by not making it affordable for the average Joe.
sf is overcrowded. It has double the pipulation compare to oakland and oakland is actually a bigger city in term of land area sf 46 sq mile, oakland 77 sq mile.
All tech companies need to spread out across the country. Stop building more startups in the Bay Area! Or at least hire remote employees from different parts of the country or give the option to your current employees to move elsewhere and work remotely (I'm talking to you Uber, Lyft, Twitter, Salesforce and of course Google and Facebook). This way you can downsize your HQ in San Francisco/Bay Area and hopefully the housing market gets back to normal and people that don't work in tech can afford living in the Bay Area..
You know things are bad when the gentrifying hipster bike store is lamenting the loss of Market Street Cinema (which was mostly a brothel). Don't cry little hipster. Crazy Horse is still alive.
It’s shocking to see that so many low income workers are struggling in sf.I live in China, a lot of Chinese people are convinced by American tv series and movies that American is a paradise and they also can pursue their American dream there,but the truth is that there’re poor people in every country.American is not great again,US really have some heavily issues should deal with, such as wage inequality,race discrimination,gun control and drugs.
And where would you find the workers for your company? Here in SF (I work here and live in east bay) we have attracted talent from around the world because of opportunities. Our area has its draw backs but they neglect to mention all the benefits we have here. BTW who said I need to take care of some bum who came here looking for a free handout from some podunk state.
Problem is the whole world wants to come to San Francisco which is limited. Let alone the fact that everyone that use to live in San Francisco is now gone due to gentrification. You have many other places to move your big successful companies. Thank you for reading this comment 😏💯
@@apolloobserved I would ask them to move, or pay for them to move. Expensive but worth it and the workers themselves would actually be able to afford to buy homes so there are many benefits. The drawbacks of SF are surely starting to outweigh the advantages.
Same in venice beach. Most of the millions in government homeless funding goes to the non profits who's leaders and aunts and neighbors make 400k in salary. Every city same thing. Go to Starbucks listen to others conversations, everyone has a non profit
San Francisco is only about 7.5 miles by 7.5 miles. Most of these companies are within blocks of each other. You can't go down 3 blocks without hitting another one. (Actually you can, but you get what I mean)
Thank god for robots because poor people won’t be able to afford to work. The rich will have to sweep their own streets and serve themselves in restaurants and that’s the truth the world is going crazy 😝
It seems to me like people love to hate SF. I'm a teacher here. I get it, this city has some major issues.I have to question every day whether it makes sense for me to stay here longterm or not. But I can guarantee what isn't going to help our city: seeking blame instead of solutions. Seeking to argue instead of seeking to understand each other. I believe things can change for the better if people are willing to work together instead of rip each other apart. Just my two cents.
Long time resident here. What's your solution? People are willing to work together when they're not stressed. If people are stressed, then working together is just another task.
Yes please tax them more! There are quite a few other cities who would love to see the companies relocate to them. Do you honestly think that the folks who just paid 500k for a 2 bed house is willing to see that price drop?
@@nanox25x the point isn't the amount, it's about the fact that no one who paid anything for a property will want to see the value decrease: land owners will always want appreciation of value, not depreciation. They will vote accordingly.
It is horribly expensive. For all the tech wealth, SF has never been so poor. I was born and raised in the city, many decades ago! It was lower middle class, blue color workers, but it was clean and beautiful. Some folks blame a Liberal government. But they just criticize without saying EXactly how they could change this situation. No answers!
It almost sounds like people should take control of their lives and either move to somewhere more affordable or take advantage of the the excessive money in San Francisco with a small business that caters to things the rich residents want.
ShiestyShamus you gonna give all these people money to start small businesses or move? You gonna help them secure jobs in other parts of the country and then move them? These are nice throwaway ideas but are only feasible if you already have money and resources and not everyone is able to pick up and leave everything 🤷🏻♀️
steph soppanish This is America. You don’t need money to make money. And there’s not some authoritarian government power that prevents people from moving when they want to move. If someone doesn’t like their current situation, there has literally never been an easier time/place in history to improve it than living in the United States right now.
Why won't more people move out? There's plenty of great places to live! So they can say 'I live in SF'? If you're struggling simply move out and live a better life elsewhere. There should be a campaign telling how cool life can be outside SF.
I will say by my experience, if you go to a bar and everyone is talking about technology, VC, latest tech, some new horrible useless new app and so on. I believe is af boring. I'm my humble opinion SF is a huge hole with fake people. Everyone is not making more than $3K can't afford to live there, a bartender can't eat or drink in the same place they are working, NEVER! A lot of white guys trying to not appear to much white privilege white guys. 20 thousands homeless people, and a lot of then with a degree! Because they can afford to live there. I have really good experiences though and friends too there, but I'm feel sorry for what the city becomes today.
Move then. If I can no longer afford the city I live in, I am not going to pitch a tent on the street. You have the whole rest of the US to find a better place to live.
Now wouldn't this be a completely different story if those tech companies had to pay their share of taxes, and that money was used to fund affordable housing / social programs?
Salaries simply do not match living expenses. We had a chance to live outside SF working in high tech, Mountainview area, from Canada. There was zero incentive to move to the USA/california besides sun. It is a cesspool unless you are super rich. $150K does not cut it.
It's interesting to come back to this after the fallout of the Coronavirus and seeing the city decimated by not only a global pandemic but its own hubris.
Same with Seattle...between Amazon and Microsoft campuses in downtown. Forget about purchasing a home and rent in Seattle is so high for a tiny one bedroom. Yet tons of homeless in the streets. Bellevue is getting worse as well & more homeless is starting to show up.
I live here in seattle too but I'm planning to leave before biden takes office. I believe sadly it's only going to get worse before it gets better. The parks and sidewalks here are gross and dangerous. The homeless population is dangerous!!!! Most are addicts who can and will kill you in a blackout. It's pure insanity. And washington is supposed to go into a tighter shutdown soon....yeaaaa I'm leaving.
This is happening everywhere. I live in Raleigh NC I have been a here for most of my life now. I can no longer afford to live in the city I love. Gentrification has taken over middle class neighborhoods. What makes it so sad is that a lot of these neighborhoods were black owned neighborhoods with black owned businesses, not anymore people cannot afford the high cost of these homes, the high property taxes, or rent.
The main difference between, say, northern Europe and the US is the constant strive towards about "affordable housing" for ordinary people, rather than raising the living standard across the bar. This could easily be achieved by adding an extra 5% tax on large companies and high-income people ($1,000,000+ annually or so).
SF: There is a problem with affordable housing here. SF: 5 people made a bid on a $1.6M condo. If so many people are able to make bids on these properties, and qualify for mortgages, not only it is affordable, but the demand is so great as the property is being sold too low. So low that many buy homes auction style, and offer much more than the list price.
you know what is weird, is that young people straight out of college are being paid such astronomical salaries and are living in luxury homes. It used to be that young people were paid less, lived in bachelor pads and as they worked and gained experience, they earned more and moved up in the world. I was waiting in the lobby of a new luxury apartment building recently, a building with concierge, indoor swimming pool, full gym, video conference rooms etc etc.. and all of the residents coming in and out were under 30. What does that mean ? That 20 somethings will be making millions of dollars and companies will fire them when they are 40 ? So at 40 they become "old" and unemployable but they maybe have money? The rules of the world have changed.
The problem is in behind the mind of the “5 dollar cup of coffee” statement. Why the fu5k can’t someone make coffee at home. Cali is already over taxed and over regulated. As for Uber drivers; Uber is meant to be a side gig not a full time employment. What would the drivers do if Uber didn’t exist? However the best solution is for tech companies to leave Cali and move to another state. It will ease the issues with inequality because inequality can’t exist if everyone is poor.
We don’t need new homes. There are many empty Apt’s in my building . We need lower prices. The big banks invest in rental property and jack up the prices using cronyism and eroding renter protections via fake bond pass throughs and other means. Their entire focus is to raise rent. The investment banking company that bought my building bought 80 buildings that year Big buildings . They have no concern for what tenants go through. They installed a commercial property in the muddle of my building ( because withy could) with giant blower fans that have no off switch( so I listen to that all day and night) And they put in a Silicon Valley bus line and got rid of our parking spots And they hammered at our rents with many false means, charging us for the improvements to the property that don’t affect us or the common area against our wishes. We listen to constant hammering etc with construction employees that don’t speak to us and are owned by the company. Safety is ignored . Meanwhile the poor are tricked or moved out. It is a constant attack. We need REGULATION!!! Stop big banks from owning rental property. Protect tenants
Make Alcatraz a homeless encampment. Curfew. Ferrying back and forth into the city a few times a day and back you go. A stipend and strictly enforced public intoxication and indecency laws. Nobody wants to see wasted opportunity or merit.
what a joke it was sold to big business to turn into dorms for workers. had a single room in an apartment for rent last december next door. i thought a college class was on a field trip, was about 30 college age kids.
It should come as no surprise to anyone that San Francisco is one of the most expensive cities in the world or that costs there have been going up. That was obvious a quarter of a century ago when I first moved to the area. That everything changes, or that things aren't what they used to be is just a fact of life. That some people can afford to live in SF doesn't make them villains. That other people can't doesn't make them saints. SF has been one of the most desirable places to live in the world for decades. People from all over the world save their money for years just to visit SF for a few days once in a lifetime. If you've been living beyond your means, living in a premium location, but you can't afford to live in San Francisco any more, the responsible thing to do is to live within your means. Leave. You don't have to like it, but if you've been living in SF for decades, something I've never been able to afford to do, don't ask me to cry for you.
If you hand out housing to homeless people, the people who earn like $100k with hard work in SF will get left behind (as they still can't afford a $2m apartment).
Dmitry Karpenko how will they get “left behind”? Are you comparing a person sleeping on a sidewalk with a person who has a full time job and is making 6 figures??!
@@maverickbull1909 Because they will still not have a house in, let's say, 10 years. As the market changes, they can loose their jobs and end up at the same place as today's homeless people. And more importantly - it's not fair to the hard-working people. You disrespect them - and they go away to other places when they're welcomed.
Uber ceo: created a successful business hiring thousands across the country to create a new model of transportation at a competitive cost against other transportation businesses Uber driver: low skilled driver working for commission WhY iS ThE PaY sO DiFfErEnT
It seems surreal, especially when you live 900 miles away and you can find a 750square foot apartment for 325$ a month with minimum wage at 12$ an hour.
Love how Huckleberry Bikes is complaining about techies hurting their business. Their average bike is around $1500. Working class people can't afford that. They're just mad that people don't want to buy overpriced bikes when they can rent one or take a bus for 2 dollars. Yes the tech industry has its bad parts, but having people who sell overpriced bikes complain that people don't want them is also ridiculous.
