I think Paul Graham covered a similar scenario about 10 years ago in one of his essays and pointed out that it will mean a strong negative selection for these s

I think Paul Graham covered a similar scenario about 10 years ago in one of his essays and pointed out that it will mean a strong negative selection for these startups - people who would leave from the place where stuff happens, to place where it doesn't, just to get some cash are probably not interested in much else but in consuming the aforementioned cash.