San Francisco's frustration with tech

Money is becoming increasingly hard to come by for the tech sector in San Francisco, which may actually be good news for some.

Aaron Peskin, an elected member of San Francisco's Board of Supervisors, is standing up to big tech companies and calling on them to be part of the conversation on soaring costs of living and community issues.

A one-bedroom apartment in San Francisco now goes for $3,500 per month, making it the highest in the country.

"It's not rooting against the hometown team, but bringing that team in and having them be part of the solution," Peskin said on CNBC's "Power Lunch". "These billion-dollar companies need to do their fair-share."

Detail of do not walk sign against high rise buildings in San Francisco.
Loop Images | UIG | Getty Images
Detail of do not walk sign against high rise buildings in San Francisco.

Peskin, who represents San Francisco's District 3, where he's lived for nearly 30 years, called on companies to invest in housing projects and affordable housing, rather than perpetuating escalating costs of living.

"These organizations need to start talking, rather than dictating how it's going to be. It's part of the wide-spread discontent, which is the arrogance of some of these billion-dollar tech company owners," he said.

"I believe that companies like Google, Facebook and Twitter can actually spend money to help improve our public transportation," Peskin added.