It's a culture problem: with so many people being so rich in the valley, you need to be ruthless to be part of the rich people's club. It means that if you're a

It's a culture problem: with so many people being so rich in the valley, you need to be ruthless to be part of the rich people's club. It means that if you're at the helm of a successful company, you'd rather become a billionaire yourself than letting the poorer people you employ become wealthy. Another factor is that a good chunk of the tech's business was about making things cheaper rather than making new stuff. Amazon is cheaper than bookstores, Uber is cheaper than regular taxi, and so on. Even if the tech helps make the costs lowers, it also often translates into lower worker wages, and doesn't create more value overall that what existed before.