Tech titans pour millions into San Francisco mayor's race, hoping to set city on a new course

Wealthy tech executives, many of their employees and the venture capitalists funding their companies have poured millions of dollars into this year’s race, marking a notable shift in their ambitions for shaping local politics. Starting nearly two decades ago, San Francisco lured major tech firms out of Silicon Valley with financial incentives and the promise of a more vibrant city life for its millennial workers.

Now that the industry has put down roots, its leaders are stepping up to assert more influence in how the city run.

The money has overwhelmingly benefited the candidates who have emerged as front-runners: Lurie, Breed and Mark Farrell, a venture capitalist and former member of San Francisco’s powerful Board of Supervisors who served as interim mayor for six months in 2018. All three are moderate Democrats and have campaigned on issues such as dismantling tent encampments, bolstering police powers and revitalizing downtown — some of the tech industry’s top priorities.

As the incumbent, Breed has worked to ward off the perception that she bears responsibility for the city’s ills. Her supporters note that during her first term, she has regularly sparred with the progressive majority on the Board of Supervisors, while also supporting incentives to make business feel welcomed. Last year, she declared San Francisco the “AI capital of the world.” In recent months, she has become a high-profile voice in California’s effort to get tougher on homeless people who refuse shelter, and to enact harsher punishments for retail crime.



https://www.latimes.com/california/story/2024-10-14/tech-titans-pour-millions-into-san-francisco-mayors-race-hoping-to-recast-city