Sacks questions whether people will still choose San Francisco if remote work breaks the network effect.
“if those jobs opportunities are now available via Zoom and you can be doing them from anywhere, are people still gonna choose to live in San Francisco?”
Sacks argues remote work via Zoom could break Silicon Valley's network effect, threatening San Francisco's appeal.
“And if those jobs opportunities are now available via Zoom and you can be doing them from anywhere, are people still gonna choose to live in San Francisco?”
Sacks says San Francisco's downtown blight is caused by open air drug markets on Market Street that authorities won't stop.
“And everybody understands that it's because they won't stop the drug dealing. So you've got open air drug markets there on the main business thoroughfare of town, which is Market Street.”
Sacks predicts San Francisco ultra luxury real estate could reach $5,000 per square foot.
“I think the ultra luxury market in San Francisco could easily go to 5,000 a foot.”