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Things change - I don't disagree. Things can't always been boom times. California has had a pretty strong push since the 80s frankly with the telecom bust in
by boringg 6y ago
Things change - I don't disagree. Things can't always been boom times. California has had a pretty strong push since the 80s frankly with the telecom bust in early 2000s.
I would say the cost of living has escalated significantly, the companies that can afford to thrive in the bay area are not hardware startups as VC money has a difficult time support most of their higher capital costs, longer growth cycles and lower multiples on return. The pressure to succeed and level of talent is incredibly competitive. Therefore a lot of the software companies have taken over which is a different demo of people.
Don't believe the narrative on mass exodus - thats a signal that is being amplified in the press. Exodus? Yes, will it come back when we are not in pandemic? I would wager yes.
Is it time for some people to move out of state especially those who don't or never liked it? Yes, take the pressure off our public systems.
- nickthemagicman 6y agoYou're right I stand corrected. Ignoring the Covid exodus, California had a .1% growth rate, which is in the lower half of all 50 states growth rate. Texas has the number one growth rate in the country.