Silicon Valley basically props up the California state government.https://twitter.com/laoecontax/status/986334020001660929 …
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The obligations are already already crowding out existing public services, which is why city budgets keep growing yet voters feel like they’re getting less for their money. The tech boom basically enables cities to run in place against the pension liability.
I think regional growth is happening already because the Bay has made itself less competitive through terrible housing and development policies. There used to be awesome coverage of these issues on techcrunch dot com. ;)
Politicians all love high paying tech jobs and the tax revenue they produce, until it comes time to house those workers. Then it’s scapegoat time!
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