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Tech icon criticizes San Francisco and announces move to Florida: ‘Impossible to stay here’



Bay Area tech icon Keith Rabois has announced that he is leaving San Francisco permanently – and he is criticizing the city on the way out.

Rabois, an early manager at PayPal, Square, LinkedIn and more, told Fortune he “moves instantly” because he finds it “impossible to stay” in San Francisco. After living in the Bay Area for 20 years, he said he plans to move to Florida.

“I think San Francisco is just so massively wrong and wrong that it’s impossible to stay here,” Rabois told Fortune. He told the publication that other friends in his peer group have done the same, and a look at his Twitter account shows several tweets about the so-called San Francisco emigration.

Rabois is a legend in Silicon Valley as an investor and a technical director. He emerged as part of the PayPal Mafia, a group of early PayPal employees, including Peter Thiel and Elon Musk, who have since become big names in the industry.

His Glen Park residence was the subject of local headlines in 2017 when he submitted a proposed renovation to the city. Rabois bought two properties on Everson Street with plans to add a gym, basketball court and sauna to one. Neighbors were concerned that he was creating a tech composition a la Mark Zuckerberg and went so far as to create a website to protest his plans.

Rabois is hardly the only person making the move from San Francisco during the coronavirus pandemic. In August, real estate website Zillow released its 2020 Urban-Suburban Market Report, which showed San Francisco inventory rose 96% year-over-year.

“It may be tempting to credit the city of San Francisco’s inventory to the emergence of telecommuting that came with the pandemic, but one only has to look at San Jose to question this narrative,” Zillow economist Josh Clark told SFGATE in August. . “The San Jose subway, which like the city of SF is dominated by technology workers, has not seen a similar increase. Two things that could lead to the difference are San Francisco’s density and its smaller share of family households.”


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