For three years now, the San Jose State professor Scott Myers-Lipton has held a mirror to Silicon Valley’s staggering wealth divide, and reflected the disparities: Less than 1% of the Valley’s households account for 25% of the region’s bountiful wealth, while more than 45% of the Valley’s children live in households that cannot cover basic needs.
The wealth gap between White households and Black and Latino communities is widening at an unprecedented rate, according to the third annual Silicon Valley Pain Index released Wednesday, and the trends shows no signs of slowing down anytime soon.
The income disparity is part and parcel of what Myers-Lipton sees as an environment of “devastating inequality” across racial lines.
