US tech moving to L.A., pushing out locals

Global Business

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First there was Silicon Valley in San Francisco. Then came Silicon Alley in New York. Now, there’s a wave of tech companies setting up in Los Angeles.

US tech moving to L.A., pushing out locals

US tech moving to L.A., pushing out locals

First there was Silicon Valley in San Francisco. Then came Silicon Alley in New York. Now, there's a wave of tech companies setting up in Los Angeles.

In the past few years, several established companies like Microsoft and Google, and hundreds of startups have opened up shop in LA. But as CCTV’s May Lee reports, what may be good for business, isn’t so great for locals who say they can’t afford to live in the area anymore.