1 What the Young and Rich Have Done to the Bay Area | The Billfold

What the Young and Rich Have Done to the Bay Area

Entire industries that didn’t exist ten years ago are either thriving on venture capital, or thriving on companies that are thriving on it. It is now possible to find a $6 bottle of Miller High Life, a $48 plate of fried chicken, or a $20 BLT in parts of the city that used to be known for their dive bars and taco stands. If, after all, money has always been a means of effecting the world we want to bring about, when a region is flooded with uncommonly rich and uncommonly young people, that world begins to look very different. And we’re all living in it, whether we like it or not.

In the East Bay Express, Ellen Cushing looks at how a population of young people with a lot of tech money in their bank accounts have transformed the San Francisco Bay Area. It’s a story about gentrification, but the kind of gentrification that happens when “young people routinely make six-figure salaries, not necessarily beginning with a 1.”


7 Comments / Post A Comment

aeroaeroaero (#1,422)

Ugh, if I see one more article like this, I am going to puke! I really, really hope this bubble bursts in the next few years.

Having said that, I have no idea where to find a $48 plate of fried chicken or a $6 High Life. Those are just…lies.

hellonheels (#1,407)

@aeroaeroaero I don’t know that it’s a popular opinion around these parts but I strongly believe that at least one and maybe more of the large tech companies in the Bay Area are going to see a significant decline in the next few years. I have three in particular in mind but there are so many of them that don’t seem like they can possibly stay relevant, at least at the level they are currently, in the long term. The bubble may not burst, but I do think some air will be let out of it not too long into the future.

questingbeast (#2,409)

“The event was luau-themed, so the company hired staff to dig big holes in its Mountain View campus’ lawn and fit spits inside for the purposes of roasting pigs, according to people who were there. There were tables full of food and drinks scattered around. Also on offer: a sophisticated wave machine so employees could try their hands at surfing — miles away from the ocean.”
This sounds… not that fancy at all? Is this really the best example of Google decadence? My prom was more elaborate than that.

ellabella (#1,480)

“”I don’t know. I don’t identify with the term ‘rich.’ But I think I make a shit-ton of money,” a 24-year-old Google employee making low six figures told me. Another told me he considered himself upper-middle-class, but “definitely not rich.””


deepomega (#22)

@ellabella Interview reveals that nobody on earth is rich, everyone just right there at the top of middle class.

Non-anonymous (#1,288)

@deepomega “I have never yet known a man admit he was either rich or asleep.” — Dr. Stephen Maturin

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