#foodforthought Are #Startups causing inequality?

Earlier this week Richard Florida published on article on CityLab talking about the relationship between tech innovation (in cities) and inequality . Specifically, the article deals with the correlation between venture capital investment and a variety of factors, such as monthly housing costs, wage and income inequality, and so on. The intent of the piece was to address the growing backlash against tech workers — in places like San Francisco — who have become the symbol for the growing gap between the rich and poor. The strongest correlation appears to exist between venture capital investment and housing costs. As the amount of venture capital goes up, so do housing costs — which probably shouldn’t surprise you. The rich start outbidding the poor for housing. Note: The two outlying dots at the top right, in the graph below, are Silicon Valley and San Francisco. But when it...

Full article: http://sustainablecitiescollective.com/donnellyb/1028401/...

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