Wealthy San Francisco tech investors bankroll bid to ban homeless camps

The proposed law would ban tent encampments from San Francisco's sidewalks - a visceral reminder of the city's gaping inequality

A tent on a sidewalk is the only place thousands of San Franciscans have to call home. But if a few of the city's tech billionaires and millionaires have their way, even that shelter could be taken away.

Sequoia Capital chairman Michael Moritz, tech angel investor Ron Conway, and hedge-fund investor William Oberndorf have donated $49,999 apiece to a divisive ballot measure intended to clear San Francisco's streets of homeless encampments, according to campaign filings.