SV is becoming a real estate business instead of tech. When you have 50% or more of salaries spent on rent or mortgage then so much of the revenue generated is just lost into real estate instead of innovation growth, investment and R&D.

I don't understand why FB, Apple, Google, etc. do not lobby hard the local cities and push to build 100,000 new units. It'll bring the rent or house prices down and it will allow many new startups to afford local hires or bring developers over here.