San Francisco, AI capital of the world, is an economic laggard
NOWHERE IN HISTORY has created so much wealth so quickly. San Francisco is home to OpenAI and Anthropic, the two leading artificial-intelligence labs together worth nearly $2trn. It hosts 91 other AI “unicorns”, private companies worth more than $1bn, collectively valued at a further $600bn. A dozen or so billionaires who made their money from…