This has been a somewhat unique problem in the Silicon Valley / Bay Area since the dot com boom of the late 90s. When large amounts of venture capital money get dumped into a geographic area, real estate costs skyrocket while wages for a vast majority of people who aren't tech workers (ie. a majority of San Francisco and Oakland) don't budge. This prices normal people out of affordable housing and widens the gap between the haves (a minority) and have nots (the sizeable majority), thereby ruining the value of continuing to live in SF. Boston is the number 3 city for VC money and is also experiencing a similar problem. When housing is too expensive, people obviously can't be happy (or content) living there, which ruins the entire experience in living in such cities.
Saying "tech companies are ruining the city" is overly simplistic and completely misses the point. What else are tech companies and venture capital funded startups supposed to do?
The problem lies squarely with the cities and the state for inadequately using tax dollars to attempt to compensate and state legislatures for failing to come up with viable plans to accommodate for the obvious gentrification that began in the late 90s with the first tech boom. For instance LA County approved a 1.2 BILLION dollar program to only build 10,000 units. That amounts to $120,000 per homeless person! Not even taking into account all the problems that program has seen, that is a massively inefficient goal that was both too late to begin with and not even remotely efficient.
There are many temporary and permanent measures that could have been taken with a billion dollars to provide some form of shelter + bath facilities for the entire homeless population (for instance using cheap refuge shelters + porta potties + Burning Man-style showers) while building cheap housing to house many more than just 10K.
Then you have other problems. For the past 15 years, many cities and districts have been trying to gentrify rather than use resources to help the homeless. In many areas of LA, the city councils are focused on approving massive new construction of luxury condos and apartments at the request of real estate developers. Look at what the corrupt city councils in Glendale and Burbank have done for instance. Look at how Inglewood has bent over backward to please that cnut Kroenke. And of course, many homeowners support this because, like the lucky in Inglewood, they see a massive increase in home values. NIMBY is a tricky problem and it's hard to blame struggling blue-collar and middle-class homeowners when the city councils have been so developer-friendly and failed to do their elected duty.
You can't just post a "tech companies are ruining the city" comment without looking at the complex economic situation that is going on. The homeless is not the tech companies fault, its the fault of a complex set of politico-economic conditions over the last 20 years. We elect representatives that are supposed to be able to make a living sorting this out, but they have mostly been asleep on the job.
Spending 1.2 billion over 8 years to only build 7-10K in housing? That's a boondoggle right there not honest governance. Really, if you were going to blame anyone, you should say "luxury/wealthy real estate developers are ruining the city".