Tom Perkins: The war on the 1% [video]

"San Francisco doesn't like the experience of becoming a suburb of Silicon Valley. ... Because the people in Silicon Valley are living in San Francisco, more and more and more, and this is a trend that will continue. ...

"But the effect of that has been to drive up rents about 30%. ... That's inevitable." - Tom Perkins

I could reply to Perkins' statements but I'll just leave his own words there.

The presentation starts about 15 minutes in -- it was a live thing at the Commonwealth Club.