Toyota moved their headquarters from LA to Dallas a couple years ago, and they retained 2/3's of their HQ employees in the move. FAANG isn't exactly the same bu

Toyota moved their headquarters from LA to Dallas a couple years ago, and they retained 2/3's of their HQ employees in the move. FAANG isn't exactly the same but it's the closest example I could find of a recent large scale move from California. If there is a point where the tech industry starts to grow less and be more stable, you'll probably see some companies trying to make the move. But right now it'd be too disruptive to potentially lose 1/3 of your HQ employees in a move and screw up any growth plans you had.