Author: Lydia O’Connor / Source: HuffPost
Speaking at the World Economic Forum in Davos, Switzerland, on Tuesday, billionaire tech CEO Marc Benioff called out his own industry, saying it fostered an epidemic of inequality.
Benioff, CEO of the San Francisco-based Salesforce, used the housing and homelessness crises in his own city to make his point.
“San Francisco is kind of a train wreck, we have a real inequality problem,” he told CNBC’s Sara Eisen in Davos. “It’s because of the tech sector.”
While the tech boom has taken off in and around San Francisco in the last decade, the city’s housing prices have shot up as an influx of high-paid tech workers settled in the region. Many of them have opted to live in San Francisco and take free shuttles provided by their jobs to Silicon Valley, a suburban area south of the city, where many tech companies are located. This amplifies…
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