There are a LOT of rich towns full of money in Europe - where this sort of thing has been going on for a LOT longer than the 100 years or so of California-in-th

There are a LOT of rich towns full of money in Europe - where this sort of thing has been going on for a LOT longer than the 100 years or so of California-in-the-US history - where the rich folks live that don't feature booming innovation economies. When even the current crop of tech workers get priced out of California by the continual influx of wealthy folks seeking out the climate you won't see SF turn into Detroit, but it's not gonna be the SF of the nineties->now.