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> What this does is, it collects money from today's FAANGs while disincentivizing future startups from starting here.

I think it’s gonna disincentivize FAANGs from making future investments in the city. This is BAAAAD timing for a tax hike like this, coming off tech companies doing a seven month experiment in whole-company WFH, and finding out it’s working pretty well.

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Does SF really need investment from FAANGs? SF was a pretty awesome city before the tech boom of the 90's + 00's, and currently none of the FAANGs have a major office presence here... FB in Menlo, Apple in Cupertino, Amazon in Seattle, Netflix in Los Gatos, and Google in MV.

They certainly view the money brought in by FAANGs as theirs.

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