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The "best earners" in the Bay Area tend to own homes in the foothills (or Atherton). They're not leaving, at least any more than they already do because they o
by nostrademons 6y ago
The "best earners" in the Bay Area tend to own homes in the foothills (or Atherton). They're not leaving, at least any more than they already do because they own homes everywhere else too. Folks in the Mission, SOMA, Mission Bay, Nob Hill tend to be junior engineers at tech companies. They will likely be back when they realize that being close to the actual best earners (VCs, angel investors, and executives) is the best way to advance their careers.
- kelnos 6y agoI think you're being too narrow with your definition of "best". The people in the foothills/Atherton are your VP-level-and-above type wealthy earners. I think the parent's reference to "best earners" includes a lot of non-executive types who make north of $150k a year, which is a lot of people when it comes to tech. (I don't entirely agree with the parent's premise overall, though I do believe there's some truth to it.)
- nostrademons 6y agoSure, but my point is that the magnets in the Bay Area are the folk who control the corporate coffers, those multi-billion-dollar treasuries that can determine whether you make $1-2M/year or $150K/year. As long as being geographically close to them gives you a much better shot at making multi-millions a year, people will move back. The junior engineers are moving to Vegas because it's close and cheap and right now nobody's advancing quickly in anything, so it doesn't matter. They'll all snap back (or be replaced by other people who do) as soon as the next technology wave starts.