Tech Funding Cycles Enrich San Francisco Landlords, Says Builder
He claims real estate lobbying actively fights remote work adoption.
In a post on X, investor Bojan Tunguz offered a cynical read on Bay Area startup economics, arguing that tech's high pay and repeated fundraising mainly serve local property owners. He was reacting to an earlier X post by @a_musingcat, which argued that startups raise because talent is expensive, talent is expensive because workers need to cover roughly $4,000 rent near the office, and the next rent hike sends companies back out for another round.
Yeah, the entire tech industry was just a way for a lot of real estate investors to insanely enrich themselves. And I’m pretty sure that the major reason why remote work never really took off was exactly because of their unholy lobby.
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