Yeah, OK. It’s easier for them to price everyone out and work around the margins. I don’t see Facebook campuses in Sacramento or Lincoln NE. I see displacement of anyone not in tech from the Bay Area first.
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The problem with moving everybody is you hurt your own employees that did get houses. But there's a point where there aren't enough homeowners.
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My observation is that this is almost exclusively about (and for) executives. Most of these companies are structured around communication channels to execs. See also: open plan offices and "densification".
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Replying to @slightlylate @dakami and
Those folks are long-term, wealthy employees who can always cover the incremental costs to the next rung up. They also pay new folks a *lot* (in constant dollars) compared to when they started.
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Replying to @slightlylate @dakami and
So purchasing power parity calculations don't figure into it.
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Replying to @slightlylate @muni_d1 and
You'd be right, but *even* those families are being priced out.
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Not the existing set. The tribe is literally creating a moat that their parents started digging with Prop 13.
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Replying to @slightlylate @muni_d1 and
It's funny, we're 100% in agreement about the dynamics at play, and how we got here. What I'm saying is I saw a data point that made me believe that even the limited class that makes these sorts of decisions, is being hit, and hard.
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Yeah, that's really interesting. I spend a lot of time thinking about how Detroit happened -- my dad was an auto engineer in the late 70s -- and I suspect similar blindnesses were at play.
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Replying to @slightlylate @muni_d1 and
Oh, I have *no* historical knowledge around Detroit. All I know is some weird white flight thing happened. Curious.
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Detroit's population peaked in the 50s: https://en.wikipedia.org/wiki/Decline_of_Detroit …
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