January 4, 2021

MAYBE. IF THEY’D START CUTTING TAXES AND REGULATIONS (PARTICULARLY ON HOMEBUILDING): Can California stop Big Tech from decamping for cheaper places?

As the tech industry becomes more virtual and services-based, the companies’ workforces have less of a need to all be in one place. While these companies create vast wealth for a relatively small group of people, this is not a formula for broad-based economic prosperity.

In contrast to the old Silicon Valley, the Bay Area has become “a region of segregated innovation,” as described by CityLab, where the upper class waxes, the middle class wanes, and the poor live in poverty that is unshakable.

Neofeudalism suits California’s neofeudal lords just fine.

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