This piece on Bloomberg takes a look at San Francisco in the wake of the Silicon Valley Bank collapse. While all the usual issues that come up when talking about San Francisco – the city’s fiscal deficit, cost-of-living, tech slump, post-pandemic economic recovery, layoffs, vacant offices, homelessness, drug use, etc. – are touched upon in the article, it doesn’t give a conclusive picture on whether or not there is any cause for optimism in the sombre picture that the quoted figures paint. Even as the mayor of the city is said to have “pointed to cataclysms from the 1906 earthquake to the bursting of the dot-com bubble that brought in a spate of naysayers, only to have the city rebound stronger than ever”, an investor at a venture capital firm is quoted as having said that “the renewed interest in San Francisco is more in spite of the city, not aided by it”.
Read the full article here.
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