I ask this as a non American who has never lived in SF. Does SF need or even want FAANGs? From what I've read the tech boom has brought a load of issues driven

I ask this as a non American who has never lived in SF. Does SF need or even want FAANGs? From what I've read the tech boom has brought a load of issues driven by inequality and they're taxing so much to fix these issues. If the tax discouraged tech companies then might that actually help the issues? As I say I'm asking from ignorance. I also realise I'm likely to get somewhat biased answers to that view point on HN.