The answer is not to push tech workers back into the office – as Mayor London Breed did in March, asking tech companies to sign a “pledge” to implement return to in-person work policies. Let’s incentivize the little guys for a change.
A wise old guy asked me that years ago after my attempts to impress a prospective date were unsuccessful.
Did it work? Eh. For a while. There was a “Twitter effect” that pulled in other tech companies and gave restaurants and bars in Hayes Valley and SoMa a boost. “They had to take a lot of office space in advance of needing it, because they were hiring so rapidly,” says Colin Yasukochi, executive director of tech insights for the commercial real estate company Coldwell Banker Richard Ellis. “It was constantly a moving target.”
Keeping big tech in San Francisco is not the big answer — and maybe it never was. When the “Twitter tax break” ended in 2019, The City estimated it had lost $70 million in payroll taxes in exchange for returns on investment that were unclear. There’s not one big answer — keep big tech in downtown. Most of the workers are at home anyway, and many are not in the Bay Area.
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