The guy's Scottish, he thinks it's about San Fran specifically, it's really about AMERICA. Maybe San Fran puts it even more in your face. But compared to most any other country even half as rich as America, the lack of social safety net in the U.S. is kind of shocking. People in Europe don't really realize the extent of it.
I'm French living in Jersey. I have been to San Francisco, even though it's blatant when you walk here, everywhere in the US I have that feeling that the poor are really forgotten. And they live in third-world country conditions. In France, the average rich is not as rich, and it's probably a lot harder to become successful and wealthy than here; but the poor are not left behind as much. It feels more like a society…
This seems a little contradictory. Being daring and exciting as a country and an economy would be more like how America used to be, where the upside of having people dying in the street was that if you came here and you had drive and talent, you were much more likely to become wealthy and successful. This is in contrast to the way much of Europe functioned at the time, where a more entrenched and institutionalized class system meant that your position in life (by and large) was set at birth.
As it stands now (I believe over the last couple of decades), America performs _worse_ than every comparable developed country but Great Britain when it comes to income mobility[1].
[1] From a study done by the London School of Economics: http://cep.lse.ac.uk/about/news/intergenerationalmobility.pd...