I think most companies are no longer expanding much in the bay area, but if you already have a lot of employees there it's pretty hard to convince them to move.

I think most companies are no longer expanding much in the bay area, but if you already have a lot of employees there it's pretty hard to convince them to move. Once you have a house and a family it doesn't make much sense to move away. And since there are so many people who have a life in the bay area, it makes sense to maintain a presence so you have access to that local talent which isn't willing to leave.