Remote wages are surely lower than SF today, but so are non-remote wages everywhere as well. From a non-Bay Area company point of view, it simply doesn't make

Remote wages are surely lower than SF today, but so are non-remote wages everywhere as well. From a non-Bay Area company point of view, it simply doesn't make any sense to hire remote employees that are in the Bay Area, when you can pay above market rates for top-talent employees in Chicago, Vancouver, Berlin, London, etc. and still pay less than half the going SF rate. I think this is also why Bay Area employees are still dismissive of remote, it's taking off everywhere else but the factors that are making SF the highest paid area are also what makes it the least attractive for remote hiring. But I think what we'll see is, as SF companies themselves slowly start hiring remotely it will push up both remote and local wages globally. Non-SF and non-remote companies will have a harder time competing as their local employees now also have high-paying remote job opportunities from SF companies to consider.