Zoning has a lot to do with this: https://www.livablecity.org/rethinking-rh. Zoning lets cities dramatically restrict the supply of housing, thus favoring incumbent owners; by now, the only people who will move to SF / SV are those who want to start a startup (or "play the startup lottery" if you prefer a different set of emotional valences). The city almost can't help become a monoculture, because everyone else has been priced out.
Unfortunately, Farhad Manjoo, the author, does not seem good at attending to alternate hypotheses: https://jakeseliger.com/2015/07/03/why-you-really-cant-trust....