Silicon Valley tech companies have long played a role in California’s affordability crisis.
Now they are trying to be part of the solution in the upcoming midterm elections.
Shrinking wallets are of particular concern to California voters. Gasoline and grocery prices are among the highest in the country, while housing costs and eviction rates have skyrocketed in San Francisco and elsewhere amid the AI boom. Potential IPOs from major AI companies are expected to make the city even more expensive for homebuyers.
Big tech companies are now contributing millions of dollars to support California ballot initiatives aimed at reducing residents’ housing and transportation costs. This donation is particularly noteworthy from an industry that has often been accused of exacerbating income disparities in the state.
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