Then the conversation will be "Look Matt, it really doesn't make sense to pay you a premium just because you want to work SF. If you want to stay that's fine, b

Then the conversation will be "Look Matt, it really doesn't make sense to pay you a premium just because you want to work SF. If you want to stay that's fine, but we'll be downgrading your pay to meet company standards." Yes, this is a fantasy of many businesses, but it only works in a down market when a business does not have to meaningfully compete for employees with other businesses.