San Francisco: The New Silicon Valley?

Pinterest is the most recent of tech companies moving their office to San Francisco. Pinterest, previously located in Palo Alto, has moved its office location to the neighborhood of SOMA in SF, very close to the offices of Zynga and Yammer.

Ed Lee, in a press release, has called Pinterest part of the “Innovation Capital of the World”, stating that San Francisco is making an effort to encourage brand-new innovative companies. To celebrate the Pinterest move, Lee has released a Pinterest Page featuring San Francisco’s sights and events.

Twitter is also set to move its headquarters to San Francisco, and Salesforce, Instagram (now owned by Facebook) and Yelp has already made a home in this Northern California city.

There has been talk of a “tech boom” in San Francisco the recent years, which many say is reminiscent of the dot-com boom in the 90’s. This of course, will affect San Francisco significantly. This “boom” will create many opportunities for recent college graduates to work and live in such a vibrant, beloved city. However, these new changes also raises some problems for current San Francisco residents.

Many worry that rent will increase; some worry that diversity will decrease and that gentrification is detrimental to the city’s working class. Responses on Facebook, Twitter, and articles relating to the Pinterest-move support these opinions. However there are also responses of excitement, many believe that a tech industry may add to the energy of San Francisco.

Cities change and grow for various reasons; San Francisco is no exception. SF-ers, what do you think? Are you excited for the technology industry to grow in San Francisco, or are you wary of it?


Author: Patricia Pham, TheLoop Global Marketing Team

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