San Francisco has a reputation as a liberal city. But history shows that San Francisco’s liberalism must be regarded as evolving, contested, and often internally contradictory. The land that became the city was originally home to the Yelamu people, a small tribe in the Ohlone language group. Spanish missionaries arrived in 1776, but the Spanish empire only had a tenuous hold on the place—it was the furthest outpost of empire. By 1821, when the Mexican government took the land, most of the Native population had perished from disease. Immediately after the Americans took the place, in 1848, gold was discovered in the foothills of the Sierra Nevada, and the world rushed in. The population increased 2,400 percent in one year, and fewer than half of the new residents had been born anywhere in the United States. Well into the 20th century, elite San Franciscans worried that the rest of the country viewed their city as a barbarous place, full of foreign libertines seeking fortune and pleasure. These narratives masked the extent to which San Francisco’s economy was corporatized from the early days of the Gold Rush. They also present an image of racial liberalism that ultimately must be regarded as a myth. However, there is some truth in the view that the city has been a comparatively tolerant place, where various subcultures could thrive. San Francisco’s status as a bohemian place, a wide-open town, has always sat in tension with its role as a headquarters of global, corporate capital.