I am amazed as how strongly the SF bay area incentivizes people to leave: - highest income tax in US - one of the highest sales taxes in US - most expensive housing in US - property taxes hurt new homebuyers - high tech salaries + remote jobs -> live like royalty in another state
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Replying to @lpolovets
This has all been true for a long time, though. Yet the tech workers have kept moving here.
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Replying to @typesfaster
Very anecdotal, but my fund has been seeing more and more strong companies out of non-California markets: Denver, Atlanta, SLC, etc. Founders and employees have lower salaries but much better lifestyles. And a number of people I know have been thinking more about moving out.
9 replies 6 retweets 75 likes -
Replying to @lpolovets @typesfaster
I think housing is the worst part tbh. If a median decent home is $2m, you need a $400k household income and a $400k down payment. That's not attainable for most people. And housing continues to get 10-20% more expensive annually!
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Replying to @lpolovets
I wonder if the sheer the number of wildly successful companies here (Google, Apple, FB, Uber, Airbnb, Dropbox, Stripe, could go on forever) growing exponentially and sucking in talent is damaging the startup ecosystem too.
3 replies 0 retweets 11 likes
The flip side of that dynamic is when a company is a winner it spits off *so* much cash that high housing costs don't matter as much. I would have guessed there'd be a breaking point by now, but apparently we're not there yet? It's really taxing for us if we want anyone in-house
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If higher housing costs don’t matter, you can pay mine. I am looking for another state to live now. Too expensive here.
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