Ongoing tensions over how to handle social inequality in San Francisco sparked an a rare outburst among venture capitalists Monday.
Facebook Inc executive-turned-venture capitalist Chamath Palihapitiya called for San Francisco Mayor Ed Lee to resign due to a “very stupid city government,” spurring fellow venture capitalist Ron Conway to jump to his feet and start yelling.
“How dare you!” shouted Conway from the rear of the auditorium at the end of a discussion on inequality at Bloomberg’s Next Big Thing conference, held at an exclusive resort just across the Golden Gate Bridge from San Francisco.
The city’s role in bolstering technology, including giving tax breaks to Twitter Inc and other companies, has come under fire in recent months as complaints rise about income inequality. Many city residents blame a growing wealth gap on large technology industry salaries.
That the biggest collection of shiftless hippies in America is mad that some of their neighbors have ridden hard work and the tech boom to wealth is so dripping with schadenfreude that it’s almost better than Netflix.
It is, however, disgusting that the press keeps reporting their complaints as if they are valid. This nonsense deserves nothing but nonstop mocking.