San Francisco is a 'train wreck' of inequality because of Silicon Valley, Salesforce CEO says

Silicon Valley has driven San Francisco into a “train wreck” of inequality, with homelessness being a severe issue in the city, Salesforce CEO Marc Benioff told CNBC.

“San Francsico is kind of a train wreck, we have a real inequality problem,” Benioff told CNBC’s Sara Eisen on Tuesday.

Benioff added that, though the Valley is the home of “an incredible tech industry” that “everyone craves,” some executives in the sector are ignoring issues such as gentrification and homelessness.

“In some ways, San Francisco is the canary in the coal mine,” he said. “We have to look at it and say here’s the best technology in the world but also address homelessness.”

The Salesforce boss was a vocal proponent of Proposition C, a bill aimed at fighting homelessness by raising taxes on big businesses.

He entered a battle of words on Twitter with the social network’s CEO Jack Dorsey last year after the latter made his view known that Prop C was not the “best way” to address homeless in San Francisco and California as a whole.

“Prop C was a great example of commitment to improving things in San Francisco,” Benioff said. “Each CEO is responsible for their little world part.”

He said that “not every CEO” was showing commitment to fight the issue of inequality “tooth and nail,” but added that his criticism was not just limited to Twitter’s Dorsey.

Let’s block ads! (Why?)