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SF has recently implemented & continues to consider a slew of tax + regulatory policies that no growing tech company would subject itself to were it not the sole superior option re: access to capital + talent. If an industry flight occurs *once,* the ground is salted. https://t.co/JQ3uRtKM2i
This would require SF to respond to a catastrophic drop in revenue with new tax *cuts* & to lay off well-paid city workers enforcing its various policies/processing its vast array of permits *during a time when other employment opportunities have dwindled* https://twitter.com/aashishium/status/1187394566158086144?s=21 …
Note that SF is a barely-liveable city even with the immense budget it has now. From where I'm standing, it appears to have no idea how to evaluate its extant programs & certainly no idea how to trim fat. If it's not a prime candidate for New Detroit, I don't know what city is
SF has advantages it'll keep. It's a geographically well-positioned city, a major port in a beautiful part of the country. But it's also creating other long-run burdens for itself, e.g. a growing pop of serious drug addicts & deeply neglected public transit + education systems
Lest you think SF will rapidly come to its senses if/when the exodus starts happening in earnest, let me remind you that this is a city that can't come to any kind of consensus on whether it can abate its crisis-level lack of housing by creating more housing
“Assuming rational people are governing SF” no snark and in all seriousness, what about the last several centuries of human history leads you to conclude that this is a reasonable assumption.
“Equilibrium will always ensue” well yes, but it may not be an equilibrium that you like. Many once-thriving cities, cities that were world famous as centers of industry and innovation 100 years ago have seen an “equilibrium ensue”
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