Scott Budman of NBC Bay Area on how Silicon Valley has gone from dot-com bust to AI boom
Rich On Tech Episode 132 - August 2, 2025
SCOTT BUDMAN: BACKGROUND & TECH COVERAGE HISTORY
Has been covering tech in the Bay Area for over 25 years
“When I got back up here, the tech boom was taking off and it has just not stopped since.”
Hosted a syndicated show called “Tech Now” during the first tech boom
“At some point, they did syndicate it… we were really interested at the time in what Silicon Valley was doing.”
HOW AI IS DOMINATING THE BAY AREA
AI is now the currency of Silicon Valley
“You hear about Mark Zuckerberg and Meta offering hundreds of millions of dollars… like NBA contract-level money to get people to work in AI.”
Big tech companies are fighting over top AI talent
AI is a year-round story now, not just tied to product launches
“Tech is just kind of the dominant thing up here… five days a week, seven days a week.”
SILICON VALLEY VS. LOS ANGELES
LA is rising in tech influence thanks to the creator economy and streaming
“Snapchat is headquartered there… it’s become Silicon Beach.”
Tech and entertainment are merging
“Netflix, headquartered here, has a huge presence in Southern California… Apple too.”
THE FUTURE OF TRANSPORTATION
Self-Driving Cars Are Becoming Normalized
Waymo robotaxis are now an everyday occurrence in the Bay Area
“If you’re a teenager or someone in your early 20s, this is very normal.”
Youth increasingly uninterested in driving
“You wonder how automakers are going to deal with this… if a whole generation is growing up thinking, ‘I don’t really need to get behind the wheel.’”
Electric Vehicles & Sustainability
Electrification is taking off beyond just cars
“We’ve got these giant drones that are working on carrying people.”
The region is actively balancing environmental concerns with energy-intensive technologies like AI and crypto
ECONOMIC & SOCIAL IMPACTS OF TECH
Rise of Venture Capital Influence
VCs are now involved in politics and policymaking
“Instead of saying, ‘Leave us alone here on the West Coast,’ it’s now, ‘We want to have a role in government too.’”
Income Inequality in Silicon Valley
Tech wealth is driving massive disparities
“Who can afford a $3 million house? And how many homeless people do we have at the exact same time?”
Budman acknowledges job creation—but also that many are left behind
CHANGING CULTURE AROUND TECH COVERAGE
Mainstream media mostly cares during tentpole events
“I work at a major TV station, and they really care about me when the iPhone comes out.”
Both Rich and Scott note the challenge of covering tech all year despite intermittent public interest
FUN PERSONAL MOMENTS & CALLBACKS
Rich remembered watching Scott’s show while in Shreveport, LA
“I’m trying to remember the name… Tech Check? Tech Now?”
Budman joked that Silicon Valley was loved during the boom, hated during the bust, and now “back to being loved again”
SCOTT BUDMAN ON SOCIAL MEDIA & TV
Posts regularly on X (@scottbudman), Instagram, and even TikTok
“People are much more likely to say, ‘Hey I saw that thing you posted,’ than say, ‘I saw you on the news.’”
Acknowledges shift in news consumption habits
“We as a business really have to go where the action is.”