Marketplace Tech · Tuesday, July 7, 2026
A stark contrast exists in San Francisco between those benefiting immensely from the AI boom and others experiencing job losses and financial precarity, even with high-paying tech salaries. This disparity fuels anxiety about missing out on wealth accumulation, with the concept of a 'permanent underclass' circulating in tech circles.
“It's really a tug of war between something that's in decline and something that's growing rapidly.”
“To see it up close and personal is, it's very stark. I mean, overnight, I have friends who are worth billions of dollars. And others, sheepish, but by a newfound sense of precarity, even with enviable big tech salaries.”
“People who are like, you know, I felt like I did everything right in my life. I went to, I don't know, Stanford and MIT, I was top of my class, I took the right job, I did everything right. But I don't know if my job even has value anymore.”
“He says the term permanent underclass gets thrown around a lot in tech circles, ironically.”