Marketplace Tech · Tuesday, July 7, 2026
Ted Egan, San Francisco's chief economist, states that the current AI boom surpasses previous tech waves in its scale and investment magnitude. However, this wealth is concentrated among a few, while the broader tech industry faces contraction.
“San Francisco is the perpetual gold rush town. The mansions of Billionaires Row were built with the fortunes of mining and railroads, before they were claimed by the barons of Silicon and software.”
“Ted Egan, the city's chief economist, has seen his share of booms in his two decades in San Francisco. But nothing on this scale.”
“The amounts invested in AI companies are orders of magnitude bigger than in previous tech waves.”