On this edition of Your Call, how many millionaires can the Bay Area sustain? When Uber and Lyft go public this year, thousands of employees will become incredibly wealthy overnight. Home prices are expected to go up, making the Bay Area even more unaffordable for working class people.
San Francisco Supervisor Gordon Mar is calling for a hearing on how IPOs affect housing prices, gentrification, traffic, and inequality. What do you think government officials should do about IPO wealth and growing inequality?
Guests:
Gordon Mar, San Francisco District 4 Supervisor
Jason Benlevi, author of Too Much Magic: Pulling the Plug on the Cult of Tech
Edward Escobar, a San Francisco Uber/Lyft driver, advocate and organizer for drivers/gig workers, and founder of The Alliance for Independent Workers and #DriversUnite Movement.
Web Resources:
When Uber and Airbnb Go Public, San Francisco Will Drown in Millionaires--New York Times
Could SF Tax New IPO Wealth? --48 Hills
Finally, some insight on the impact of IPOs on home prices-SF Chronicle
