Garry Tan: San Francisco public bank proposal risks city finances

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3 hours ago

Garry Tan: San Francisco public bank proposal risks city finances — San Francisco public bank proposal criticized

Garry Tan, president and CEO at Y Combinator, criticized a proposal for a San Francisco public bank, claiming it would be staffed by associates of absentee city supervisor Jackie Fielder.

Tan described the initiative as a 'tremendous grift mill' that could potentially harm the city's financial interests.

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Tan previously estimated that the Fable 5 ban could result in $12 million per hour in productivity losses for AI-coding developers by mid-2026. He has also pointed to the potential of new Series A funds as a key venture capital opportunity. Tan's comments have highlighted financial risks and prospects across the technology sector.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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