If AI Makes You Rich, San Francisco Still Needs You
San Francisco is about to watch another wave of private paper wealth become public money. SpaceX is preparing for a historic listing, Anthropic and OpenAI have reportedly moved toward IPOs, and the Bay Area housing market is already reacting as if the checks have cleared. The Guardian reported today that AI wealth is helping push San Francisco home prices higher, with OpenAI and Anthropic employees in the city and SpaceX wealth in the broader California orbit all part of the same speculative weather system. Axios reported this week that OpenAI had confidentially filed draft IPO paperwork, following Anthropic's reported filing and just ahead of SpaceX's expected public debut.
This is not a neutral event. It is a civic test.

