The talent to company ratio is much lower in California vs. say Texas (can be proven by the number of foreign worker visas petitioned by California companies as

The talent to company ratio is much lower in California vs. say Texas (can be proven by the number of foreign worker visas petitioned by California companies as a ratio of its population). I'd rather have (near) first picks from the University of Texas Austin, than third or fourth round picks from Stanford. The top 10% of a top tier school beats trying to compete with Google, FB, MS and every known tech company in the world while being in the Valley, or paying for huge relocation costs to bring people in from other states or countries while being under the constant threat of them being picked out by recruiters for other companies.