Compared to what? Afaik SF doesn't have the history of abject dependence on federal support that many 'Red' states have. SF is the hub of the technology world, which also seems like a success story any other states would wish for.
We also can't forget this: https://www.arcgis.com/apps/View/index.html?appid=b6fab72091...
This is all the result of left-wing politics and left-wing politicians. If we ever want to fix the problem, we need to admit the cause.
Another issue is high taxes in California (another left-wing idea). With taxes so high, the very rich are still rich and the middle class are living paycheck-to-paycheck essentially creating two classes: rich and poor. This is what happens in nearly every country that does this.