I think many people prefer petty crime to tech elites. With the upward pressure on rents over the last 10 years, even having your bike stolen every few weeks is cheaper than getting evicted and/or having to find a market rate dwelling.
Of course, it's better to have neither exploding costs nor petty crime, but at the end of the day, dealing with petty crime is more affordable.
EDIT: Getting downvoted to oblivion but I'm not wrong.
https://sf.curbed.com/2019/12/12/21001080/san-francisco-sf-r...
"In 2010, a two-bedroom SF apartment on Craigslist averaged $2,893 (per historic data compiled in 2016 by Eric Fischer), or $3,396 after inflation. At the end of 2019, similar units on the same site sit at a median of $4,300, up 26.6 percent."
It would have taken a lot of petty crime to amount to that $12K per year in inflation-adjusted (i.e. real) increase.