Common sense? Median rents are $5500 a month. No one can afford that. A city can't exist if people can't live there.

Don't forget that the median rent is determined by the very small slice of rentals that are changing hands.

I'd love to know what the median rent across all rentals is in SF! ~70% are rent controlled. I'd guess the median rent is maybe half? Around $2000? Just a guess.

You say no one can afford it, but all the apartments are rented out.

Sure, but that class of people can't do all the things required to run the city (food service, child care, etc). Those people have been priced out and are moving elsewhere. The city suffers; it becomes difficult to sustain the current pattern.

I mean other cities are like this too. Chicago is a very cheap big city. But how many server workers live in Gold Coast or River North? The difference is I guess cheap housing is closer compared to SF?

Except none of the doomsday predictions have come true. There are still of services like food service, child care, etc.

He's reasonably and appropriately worried about both the shaky unicorns and the seed funding bubble, neither of which seems terribly sustainable.

There are other games in town, but those two games were seriously inflating salaries here.