In San Francisco’s A.I. Era, Even $180,000 Tech Salaries Are No Longer Enough
The New York Times • • business
Key Points:
- Katrine Razniak and Adam Woodbury, both earning six-figure salaries in San Francisco's tech sector, struggled to find affordable housing, unable to secure a one-bedroom apartment under $5,000 per month despite extensive searching.
- The high cost of living, including groceries and dining out, has made it difficult for even well-paid tech workers like Razniak and Woodbury to envision a sustainable future in the city.
- The rise of artificial intelligence companies such as OpenAI and Anthropic, with valuations nearing $1 trillion, is creating an elite group of tech workers who can outspend others, further driving up living costs in San Francisco.
- These AI firms, alongside Elon Musk’s SpaceX, are expected to generate over 20 new billionaires among their employees, intensifying economic disparities within the local tech community.
