Right now it’s cool to crap on SF, which until 2020 was on a tear rivaling Manhattan as the best city in the US. It was outpacing it as far as per capita Michelin restaurants, salaries, property appreciation, and property development.
Tech really seems conflicted but it does not appear that top tier companies are relocating to Austin or Miami. I work in investments and those industries are second-rate at best. There is no competition when comparing regions.
The perfect trifecta of old/new-money, best education, and geography/weather mean that the problems facing SF and other Bay Area regions ultimately depend on the city putting on a good face and dealing with two main issues:
- Police force inadequacy - property crimes and thefts receive the most attention here. Followed by drug use. Why are we not removing these groups with urgency?
- Homeless relocation - we either need a statewide solution to remove everyone that is homeless, or as another individual mentioned, we need to put down 8,000 mattresses on treasure island so that technically we can move people elsewhere.
I recognize this may be beating a dead horse or cheerleading, but I struggle daily with another city that would be better to relocate to.
Austin? Hot AF and Texas. Miami? Hurricanes and going to be underwater in 10.
Denver? Cool but 90% white and blizzards in May. NYC? Amazing but brutal from November-April.
The next tech groups to move in to SF are generative and predictive AI. That is being led by OpenAI and the series of follow on AI groups building on top of it. South Bay will get energy focused startups working on Nuclear Fusion, based out of LLM Labs.
Tl;dr - too amazing of a region not to rebound in a few years.