This is mostly bullshit. Crime rates in California and SF are comparable to the rest of the country. However there seems to be a concerted effort to push back on any reductions in moronic "tough on crime" policies from the 80s and 90s. Thefts under $1k should be a misdemeanor. How the hell were they ever a felony? In Canada theft under $5k is punishable by a maximum of 2 years in jail (with most people getting a lot less) and retailers seem to be doing ok.
https://www.washingtonpost.com/opinions/2021/06/14/bogus-bac...
Edit: The media seems to be in a real crime frenzy right now. Exhibit A is this bullshit graph that swaps the x axis to make it look like crime is rising: https://daringfireball.net/linked/2021/06/24/cnn-chart-crime