The Rise of Remote, and Demise of San Francisco

Jesse Powell
Nov 3, 2018 · 4 min read

The debate over Proposition C will be settled in a few days and San Francisco’s life is on the line.

Why are the stakes so high? Because San Francisco’s population of high earning knowledge workers and highly mobile tech companies already have one foot out the door.

“If you want more of something, subsidize it; if you want less of something, tax it.” — Ronald Reagan

Well-intentioned policies aimed to serve the homeless, mentally ill and drug-addicted have gone awry and proven themselves to be a failure, if not contributing to a worsening situation. Saying that more money is the solution is like saying the fire hasn’t gone out because we haven’t poured enough gas on.

The city’s pathological tolerance and enablement of antisocial behavior has resulted in its deterioration to a shit-covered, syringe-laden, zombie-overrun dystopia. Open drug use is rampant, violent outbursts and physical attacks a common occurrence. It can get worse.

We do not have a contingency plan.

It is not a question of whether we have a humanitarian crisis on our hands. It is not a question of whether people deserve second chances, dignity and respect.

How do I tell my employees who are suffering from PTSD from being attacked by crack-zombies right outside our office that they need to keep coming in?

The question facing San Francisco right now is two-fold:

San Francisco is in as especially precarious position because of the demographics.

People are not rooted. They’re flight risks and the decision to leave gets easier with every walk to work each day, every zombie encounter, every tax hike.

Tech companies and the highest paid residents leaving will mean reduced property values, reduced sales and reduced employment. The city needs to be prepared for a reduced tax base. It might actually be the rock-bottom scenario required to shake its messiah complex.

The highest earners and the largest companies are decreasingly tethered to any particular physical location. Cities must fight to keep them.

Disruptive trends in remote work:


Conclusion for San Francisco:

Other random thoughts:

About Crack-zombies:

Anyway, vote however you want on C. I am just as curious to see the experiment play out as I am convinced it’ll be a disaster. We’ll be watching from afar, of course.

Jesse Powell

Written by

Co-founder & CEO @KrakenFX, Founder @VergeArt, Bitcoin Enthusiast