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:marseycodecel: Peter Thiel says California suffers from a “tech curse”. :marseymagahat:

https://www.economist.com/finance-and-economics/2022/09/22/peter-thiel-says-california-suffers-from-a-tech-curse-is-he-right

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Speaking recently at the National Conservatism Conference in Miami, Peter Thiel, an investor and intellectual, made a provocative argument.

Mr Thiel made the Equatorial Guinea comparison with tongue firmly in cheek, but he was deadly serious about the tech-curse theory.

Mr Thiel thinks that California’s poverty and prosperity are two sides of the same coin, with state and local governments providing the link.

But there are two big problems with his theory.

San Francisco’s politics today is tame in comparison with the 1970s.

The ratio of California’s average house price to America’s is much lower than in the mid-2000s.

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San Francisco is about as NIMBY as one can possibly become while simultaneously competing with Manhattan for average price of rent so ... yeah?

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