Silicon Valley has been pulling up some of its roots and moving north.
With a now-publicly traded Twitter Inc. as the brash emcee, San Francisco is gradually stealing some of the spotlight from the southern end of San Francisco bay, and the city is becoming the sexy new face of the world’s most-fabled bastion of all things-tech.
Google Glass and Apple’s spaceship-like campus aside, much of the tech action these days is within a real bird’s tweet of San Francisco’s Market Street. With Twitter’s recent blockbuster IPO, an increasingly amorphous Silicon Valley is getting all urban on us, shifting its stance from a suburban sprawl of boring business parks to a boho-chic groove in the City by the Bay.
“This doesn’t mean there’s a weak economy or a lack of financing in the South Bay, but the center of gravity of Silicon Valley is increasingly in the north,” said Mike Sullivan, a partner and startup specialist with Pillsbury Law. “Things are hot in the valley, but they’re red-hot in San Francisco.”
How red? While the South Bay claimed 221,400 high-tech jobs in August, compared with its upstart cousin to the north with 106,800 positions, San Francisco and neighboring counties of Marin and San Mateo have been adding workers at a sizzling rate, growing by an average of 9.4 percent a year over the past three years; in contrast, the San Jose area showed a rise of 3.6 percent.