It seems to be full of people who want to be near art and "cool" people. Unfortunately tech doesn't find a way to pay those creators of culture anything. If anything, the focus is on finding ways to make everything free. So tech moves in, enjoys the presence of creative culture they refuse to fund, but ultimately inflates real estate so much they drive that creative culture away. Rinse and repeat.
If art and culture are so valuable to us why are those who create these things so poor? Why do people cringe at buying an album for $9 but then spend $11 on a coffee and a biscuit?