My impression is that some tech workers in the Bay Area are growing increasingly frustrated with the way the government runs the place. They often come from a liberal background, but the phrase I’ve heard is that if you want to convince someone to be a Republican, you should have him live in San Francisco. (The majority of people in San Francisco still vote for Democrats, but I suppose the “someone” in that phrase is specifically a tech worker.) They have a point - the last time I was there, I was at a wedding that was interrupted by the sounds of exploding propane cylinders from a nearby homeless encampment which was on fire. San Francisco is surprisingly unpleasant for them given how wealthy it is and surprisingly hostile to them given how much of that wealth comes from tech. These tech workers are also often opposed to the Democrats’ emphasis on equity, which they see as an attack on meritocracy.
Meanwhile, for someone who works in tech and is successful, the way that a tech company is run has better results: the environment is pleasant and safe, the pay is great, and management is respectful. There appears to be a lot to gain if tech can run the city for the benefit of tech.