Tech CEOs Spar Over Homeless Measure -- WSJ
October 13 2018 - 3:02AM
Dow Jones News
By Alejandro Lazo
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (October 13, 2018).
SAN FRANCISCO -- Two of the technology industry's high-profile
chief executives engaged in a public spat Friday over one of this
city's most vexing issues: homelessness.
Salesforce.com Inc. CEO Marc Benioff appeared to challenge
Twitter CEO Jack Dorsey over his commitment to philanthropy in the
city where both companies have their headquarters.
"Exactly [how] much have his companies & [he] personally
given back to our city, our homeless programs, public hospitals,
& public schools?" Mr. Benioff wrote in reference to Mr. Dorsey
on Twitter.
The exchange was over Mr. Benioff's support for a local tax
measure on San Francisco's November ballot. The Salesforce chief
has come out publicly in support of Proposition C, which would
increase an existing gross-receipts tax on the city's businesses.
The money would be used for construction of permanent housing,
rental subsidies, mental health services, drug and alcohol
rehabilitation and other homelessness programs.
The measure is supported by nonprofit groups seeking to help the
homeless, the San Francisco Democratic Party and House Minority
Leader Nancy Pelosi, who represents parts of the city.
San Francisco's newly elected Mayor London Breed, a Democrat,
has opposed the measure, citing concerns that it could drive out
businesses. On Friday, Mr. Dorsey weighed into the controversy.
"I want to help fix the homeless problem in SF and California,"
Mr. Dorsey wrote on Twitter. "I don't believe this (Prop C) is the
best way to do it... Mayor Breed was elected to fix this. I trust
her."
Mr. Benioff replied directly to his fellow CEO on the social
platform run by Mr. Dorsey. Mr. Benioff brought up a tax break that
Twitter has been a beneficiary of since 2011, which was created by
late San Francisco Mayor Ed Lee after Twitter considered leaving
the city.
Under the so-called Twitter tax break, the payroll tax
reductions were given to companies located in the Tenderloin and
Mid-Market areas, which are considered among the poorest in the
city. The tax breaks were seen as attractive to startups paying
workers with stock options.
Mr. Benioff said in an interview that the tax was "immaterial"
to big technology companies such as his own, but homelessness was
something that workers experienced daily.
"People want action to support the homeless," he said. "This is
an easy way. Unfortunately, a lot of these tech CEOs, they don't
give money to the homeless, they don't give money to public
schools, they don't give money to public hospitals...They work and
live inside their bubbles."
A spokesman for Mr. Dorsey declined to comment.
In a sign that the homelessness measure won't only divide this
city's Democrats, but also potentially its business community,
Patrick Collison, the chief executive of Stripe, weighed in too.
"Am with Jack," he tweeted. "Marc is well-intentioned, but I trust
Mayor Breed's expertise on homelessness over his."
Write to Alejandro Lazo at alejandro.lazo@wsj.com
(END) Dow Jones Newswires
October 13, 2018 02:47 ET (06:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Twitter (NYSE:TWTR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Twitter (NYSE:TWTR)
Historical Stock Chart
From Sep 2023 to Sep 2024