Imagine what Silicon Valley could be like if rent was a reasonable price
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Certainly there's a negative of fewer total makers and less agglomeration. It probably also discourages risk-taking and drives people to be employees instead of founders. Upon re-evaluation, I think my view is wrong and that the negatives do outweigh the positive selection.
I don't think it's an accident that Athens in the 5th century BCE, Florence in the 14th and 15th century, Berlin in the 1920s and the Bay in the 1960s were all hotbeds of art, writing, music, and other types of culture... and produced so much scientific and technical innovation
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It seems likely the first was a necessary precondition for the second. Read, for instance, "From Counterculture to Cyberculture" about this effect in the Bay in the 1960s and 1970s.
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To the very limited extent I've talked to the people involved, it's obvious: they were deeply influenced by developments in art, music, architecture, psychology, literature, etc et, & often talking to (or working with) practitioners.. who mostly can't afford to live here any more
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