Feb 23, 2018

The dark side of Silicon Valley wealth

A homeless man sleeps in front of his tent along Van Ness Avenue in downtown San Francisco. Photo: Josh Edelson / AFP / Getty Images

A few recent stories highlight the paradox of living in the Bay Area.

Why it matters: For all its history as a place of great tolerance, the economic impact of the tech boom has made the region a harsh place for many not tied to the boom.

1. Posh restaurants bloom while local institutions close.

As The Verge's Lauren Goode notes, Nobu has opened an outpost in downtown Palo Alto, but a restaurant/beer garden that has been in the region for 60 years is closing because it can't afford the rising rent.

2. An SF Target has taken to locking up tents.

There are so many people living on the streets and underpasses of San Francisco that a local Target store has taken to putting its stock of camping tents under lock and key.

3. Even the beach can be inaccessible.

Venture capitalist Vinod Khosla has had a long running battle over whether he has to provide coastal access through his Half Moon Bay residence. Having lost so far, Khosla now plans to take the battle to the U.S. Supreme Court. He's turning the issue into a battle over a California law that guarantees public access to the state's coast.

Go deeper