The Lie Behind Amazon’s HQ2 Sweepstakes Becomes Clear

Source: The American Prospect
by David Dayen

“I lived in San Francisco during the first dot-com boom, and I can pinpoint the moment when it was clear that the tech industry had fully given in to irrational exuberance: I left my office to see a Ferris wheel set up in the street for a website launch party, and then a day later saw a different Ferris wheel set up for a different launch party in the same location. It just didn’t feel sustainable, and sure enough, it wasn’t. For the second dot-com boom, the one associated with the platform giants, Amazon’s sweepstakes for a second headquarters had that feel to it. Over 230 cities groveled at the feet of Jeff Bezos in 2018, offering up billions of dollars in subsidies for the privilege of hosting an executive office tower.” (03/06/23)