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Tech isn't going to leave. The problem here is housing for humans. 10s of thousands of new office seats opened per year and nowhere for them to live.
Average rent for a 1-bed in SF is $3.6k. Salaries for talent have to be sky-high to compensate, & that can only last as long as there’s TONS of VC money to spend. There are many reasons that could stop being the case & it could easily cause a total meltdown for the tech scene
Correction would be healthy.
The greater the extent of the correction & the higher the cost of living is at that point, the greater the likelihood that SF’s gravitational pull isn’t strong enough to keep the talent planting their start-ups there
A moderate valuation correction/bubble-pop (which IMO may or may not be coming) doesn’t need to be a total catastrophe, but that depends entirely on how committed SF is to continue driving real estate up with its absolutely insane policies
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