> What this does is, it collects money from today's FAANGs while disincentivizing future startups from starting here.
I think it’s gonna disincentivize FAANGs from making future investments in the city. This is BAAAAD timing for a tax hike like this, coming off tech companies doing a seven month experiment in whole-company WFH, and finding out it’s working pretty well.
Does SF really need investment from FAANGs? SF was a pretty awesome city before the tech boom of the 90's + 00's, and currently none of the FAANGs have a major office presence here... FB in Menlo, Apple in Cupertino, Amazon in Seattle, Netflix in Los Gatos, and Google in MV.
I think it’s gonna disincentivize FAANGs from making future investments in the city. This is BAAAAD timing for a tax hike like this, coming off tech companies doing a seven month experiment in whole-company WFH, and finding out it’s working pretty well.