TechCrunch, citing public statements by entrepreneur Suhail Doshi, said that San Francisco’s current AI boom is widening the wealth gap and causing many tech professionals to feel uneasy about their career prospects. The article argues that what makes this cycle unique is that AI is both a source of rapid wealth accumulation for a few and a reduction in the job safety net for many.
Employees of leading companies are the first to benefit.
Doshi estimates, based on rough calculations, that approximately 10,000 people in the San Francisco Bay Area have reached a wealth level sufficient for retirement due to the AI industry, primarily among founders and employees of companies such as OpenAI, Anthropic, and Nvidia. He suggests that the net worth of this group may now significantly exceed $20 million.
In contrast, many high-salary professionals still struggle to accumulate wealth at the same rate. According to him, even with an annual income close to $500,000, many people may not reach this level even after years of work.
Layoffs coincide with career anxiety.
The article notes that while wealth is rapidly concentrating, layoffs in the tech industry continue. Some software engineers are beginning to worry that the skills they once relied on are losing their edge, leaving many uncertain about their next career steps.
Doshi described a deeper sense of work-related anxiety in the current industry: it’s not just about fewer job openings, but also about the growing difficulty in determining which skills will remain valuable in the future. For ordinary professionals, this uncertainty is more immediate than mere salary pressure.
The dispute centers on who is left outside the cycle.
This statement has also sparked debate on X. Some argue that those who can participate in such discussions are already part of a high-income group and still have sufficient means to choose a more stable lifestyle, so there's no need to exaggerate the anxiety.
However, some have pointed out that what distinguishes this AI cycle is that the same technology is simultaneously creating wealth like a lottery while eroding the traditional safety nets of professionals. The article argues that AI is not only driving valuation and funding hype but also reshaping income structures and career expectations within Silicon Valley.