Meet San Francisco's 'Permanent Underclass'

Key Points:

• San Francisco's AI boom has driven up the cost of living, forcing longtime residents like project manager Kacie Barrett to downsize drastically, including cheaper internet, shared housing, and limited social activities.
• The wealth concentration from high salaries in AI companies is creating a divide, leaving many small-business owners and non-tech workers struggling to afford housing and basic expenses.
• Rising housing costs have made shared apartments a necessity, with some residents paying rents that consume a significant portion of their income, prompting considerations to leave the city or seek higher-paying jobs.
• Small businesses benefit from tech workers' spending but face challenges hiring staff who can afford to live in San Francisco, leading owners to make personal sacrifices to retain employees.
• While some tech workers remain optimistic about AI creating opportunities, many non-tech residents feel excluded from the city's prosperity, highlighting a growing socioeconomic divide and a "catch-22" for those outside the tech elite.