this post was submitted on 29 Jan 2024
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idk, I haven't gotten to that part of Palo Alto: A History of California, Capitalism, and the World by Malcolm Harris yet. From what I've read I suspect it has to do with rapid industrialization from the gold rush, along with the first commercial bank in the country being founded in SF leading to financialization, leland stanford's hijinks, cheap labor with high immigration, and lax regulation with high defense spending (a lot of the bay is heavily polluted to this day)
Also a concentration of top tier academic institutions in the Bay (Stanford, UC Berkeley, others)