James Giampietro 
Member since Mar 25, 2013


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Re: “The Bacon-Wrapped Economy

Agree with Michael Stepp's comment, especially regarding this article being unfocused. This article does mention lots of true things about the tech industry. Yes, there are a lot of highly paid young people. Yes the tech community is insular and they start to think their privileged lifestyle is normal. And true, this is causing rent prices to surge in the Bay Area. In that sense the article irecognizes some of the darker realities of the tech industry (which I feel like we must have known already since we live here). But it doesn't add any insight to any of these subjects. I don't work in tech, am an environmentalist, and am the first person to be bothered by waste and excess. But why should we care about the difference between old money versus new money? Firstly, I's not as if the old money is disappearing. Once people are rich they don't very often become un-rich. Maybe there is something better about the way old money gives philanthropically versus the tech rich, but this article doesn't make a convincing case that there is. There is change going on, but I don't see any evidence that it's bad. Giving is becoming more direct and democratized, which might actually be good (though there will surely be some pain in transition). Maybe the things that normal people care about will be supported instead of highbrow things that only the upper class can afford anyway (like the symphony). The SF entrepreneurship scene (a slightly larger category than tech) doesn't just have material obsessed 20-somethings, but also social entrepreneurship, a movement who's epicenter is also the Bay Area. Mosaic, Kiva, KaeMae are great examples of this.

8 likes, 12 dislikes
Posted by James Giampietro on 03/25/2013 at 11:41 PM

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