SF Prop M (2024)

San Francisco's business tax overhaul, passed as Prop M in November 2024, is now at the center of a fresh political fight: a proposed "CEO Tax" would hike the Administrative Office Tax by up to 800% on companies with large pay ratios, drawing fierce pushback from tech advocates who say it threatens the city's AI boom. Proponents of SF's startup scene point to striking data—SF is the only major tech hub with *growing* company formation since 2022, up 24% while rivals like LA and Austin have collapsed. The outcome of this tax battle could determine whether San Francisco capitalizes on its AI momentum or squanders it.