Despite Class Tensions, SF Mayor Ed Lee Celebrates 45,000 New Tech Jobs

People are going back to work -- at tech firms.

San Francisco's economy is booming, at least in the technology industry. The city's 1,892 tech firms -- from Twitter all the way on down to lone wolf startups -- brought about 45,493 tech jobs to the city, Mayor Ed Lee told TechCrunch Disrupt SF today.

But as TechCrunch points out, the tech boom has come with a high cost: rents in the city have skyrocketed. Does San Francisco just say "screw those people," as Lee interview Michael Arrington, a TechCrunch co-founder, so eloquently put it?

Far from it, Lee said. The city approved a $1.2 billion housing trust fund last year, and Lee listed nice additions like the bikeshare program as proof that there's more in the pudding than just tech cash.

Lee also said that the city is trying to "protect... rent-controlled housing," TechCrunch reported.