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San Francisco’s Financial Crisis

californiapolicycenter.org

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Re: San Francisco’s Financial Crisis

#11

Post by RC_ITR »

The problem of these articles is that they lean too far into kicking SF while it’s down, since it felt so invincible before.

Same kind of journalism happened in the early 2000s.

The problem is that they don’t recognize cyclicality.

Arguably the most important startup in decades is headquartered there, the CEO is stating remote work is a mistake, and the CTO is regularly calling SF the best place to start an AI startup.

SF will still face problems but a lot of this fiscal hand wringing will likely appear foolish in hindsight.

Re: San Francisco’s Financial Crisis

#12

Post by proc0 »

slater wrote: post #10
cphajduk wrote: post #5

If employee wages are a large part of the rising costs, then perhaps the cost of living for living in SF is too high. The cost of living is too high because rent is too high. Since there is so much political contention to building more housing, there is no chance that housing prices will decrease (nobody wants to see their property lose value). Now they are complaining about the problem they caused?!? I don't know if…

They're a group of right-wing policy consultancy grifters, of course they'd complain.

Right-wing in SF? Sounds like what they'd say given how far left the entire city is.

Re: San Francisco’s Financial Crisis

#13

Post by pengaru »

simoncion wrote: post #9

> Additionally, retailers have been closing their San Francisco locations in droves, citing crime, homelessness, and drug use... Evidently uncited are * COVID concerns * Rapidly increasing cost of goods and services that remains unmatched by wage increases * Dwindling customer base as people find stores understaffed (thanks, "strategic" layoffs!), understocked, or both and give up and turn to online shopping. * Dwind…

> > Additionally, retailers have been closing their San Francisco locations in droves, citing crime, homelessness, and drug use...

"Walgreens Executive Says Shoplifting Threat Was Overstated" [0]

"Recent Retail Closures in U.S. Cities Follow Trends Established Before the Pandemic" [1]

Retail is just dying, but of course they're going to blame something other than their own failing / inability to compete with Amazon and the like.

[0] https://www.nytimes.com/2023/01/06/business/walgreens-shopli...

[1] https://www.planetizen.com/news/2023/05/123289-recent-retail...

Re: San Francisco’s Financial Crisis

#15

Post by jasonwatkinspdx »

proc0 wrote: post #12
slater wrote: post #10

Earlier quoted context omitted.

They're a group of right-wing policy consultancy grifters, of course they'd complain.

Right-wing in SF? Sounds like what they'd say given how far left the entire city is.

No, this place is a fake think tank that pretends to be neutral but is in fact an arm of ALEC and largely funded by the Koch's: https://www.sourcewatch.org/index.php/California_Policy_Cent...

Don't fall for easy bullshit and let it lead you to making "dunk" comments that don't actually engage the problems and instead act as thought ending cliches. That's their entire goal.

Re: San Francisco’s Financial Crisis

#18

Post by inferiorhuman »

pengaru wrote: post #13
simoncion wrote: post #9

> Additionally, retailers have been closing their San Francisco locations in droves, citing crime, homelessness, and drug use... Evidently uncited are * COVID concerns * Rapidly increasing cost of goods and services that remains unmatched by wage increases * Dwindling customer base as people find stores understaffed (thanks, "strategic" layoffs!), understocked, or both and give up and turn to online shopping. * Dwind…

> > Additionally, retailers have been closing their San Francisco locations in droves, citing crime, homelessness, and drug use... "Walgreens Executive Says Shoplifting Threat Was Overstated" [0] "Recent Retail Closures in U.S. Cities Follow Trends Established Before the Pandemic" [1] Retail is just dying, but of course they're going to blame something other than their own failing / inability to compete with Amazon a…

Walgreens also just settled with San Francisco over their contribution to the opioid crisis in San Francisco. They also recently fired the security firm* that killed the alleged shoplifter. There's a lot going on with retail both in the Bay Area and nationwide. To pin it on failed San Francisco policy is more than a bit reductivist.

* Target hired the same firm to provide armed guards at some of their East Bay stores

Re: San Francisco’s Financial Crisis

#19

Post by proc0 »

jasonwatkinspdx wrote: post #15
proc0 wrote: post #12

Earlier quoted context omitted.

Right-wing in SF? Sounds like what they'd say given how far left the entire city is.

No, this place is a fake think tank that pretends to be neutral but is in fact an arm of ALEC and largely funded by the Koch's: https://www.sourcewatch.org/index.php/California_Policy_Cent... Don't fall for easy bullshit and let it lead you to making "dunk" comments that don't actually engage the problems and instead act as thought ending cliches. That's their entire goal.

Sounds like conspiracy theories. No dunking, just saying. SF is far left just like Oakland and they both seem to have unique problems other cities aren't experiencing. I could be wrong, but so far I've predicted the downturn and I think it won't get any better unless people start holding the decision-makers accountable (which sounds like it's not going to happen).

Re: San Francisco’s Financial Crisis

#20

Post by mellosouls »

CalChris wrote: post #3

SourceWatch on California Policy Center https://www.sourcewatch.org/index.php/California_Policy_Cent...

A left wing pressure group identifies the article publisher as a right wing pressure group.

Ok, cool, but whatever the quality of the arguments in the article that's probably not the devastating hammer blow to defeat them.

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