Jonathan Weber's recently published book, "City on the Edge: Technology, Politics, and the Fight for the Soul of San Francisco," explores the profound transformation of San Francisco over the last three decades due to the tech industry. Weber, who was the first Silicon Valley reporter for the Los Angeles Times, details how the city went from having virtually no tech companies in 1990 to tech accounting for 35% of its jobs by 2019, up from 2% in 1991. The book covers the boom-and-bust cycles, the influx of tech workers, and how the industry became a major economic and political force.
The book highlights key moments and figures, including the controversial 2011 "Twitter tax break" which exempted tech companies along mid-market from payroll taxes. This tax break, for instance, involved Shorenstein, a real estate company, making significant profits, dwarfing what Twitter would have owed. Alvin Dworman sold the building to Shorenstein for $120 million, with a profit participation clause, leading to Shorenstein selling 90% of it for $900 million five years later after $200 million in renovations. Weber notes that while the tech industry made significant profits, the financial gains for real estate companies like Shorenstein were even greater.
Weber's narrative also delves into the complex relationship between city leaders and tech companies, examining how leaders like Gavin Newsom and Kamala Harris rose to national prominence, and how companies like Uber and Airbnb began to influence city jurisdiction. The book concludes in 2025 with the inauguration of Mayor Daniel Lurie, marking a "radical shift" in the city's political landscape. It addresses ongoing challenges such as homelessness, drug addiction, and housing shortages, which were exacerbated by the tech boom, and the notion of a "doom loop" affecting the city's perception and economy. Weber suggests that the AI industry recently helped "bail out the city for a moment," but expresses concerns about the long-term impact on San Francisco's identity and creative spirit.
