SF is now the most expensive city to live in, in the US base on a few sources. While it's true normally growth and new jobs is seen as a good thing, here, it's specifically the tech sector that is growing with the majority of hires and wage increase focused entirely on developers mostly.
Imagine if rent goes up 300% or more in the past few years and you work as a waiter or any other number of non-tech jobs. Increase salaries and demands for hires in the tech sector would have nothing to do with you nor would you probably qualify for a job yet you suffer from all the consequences of the growth and demand happening around you aka your wage is the same but trying to rent a place now costs several thousands of dollars more than it did 5 years ago. That's essentially the problem locals who aren't in the tech field are facing.