It has to do with stock. Many workers in startups, FAANGs, etc have a very large portion of their overall compensation come to them in the form of stock, optio

It has to do with stock. Many workers in startups, FAANGs, etc have a very large portion of their overall compensation come to them in the form of stock, options, RSUs, etc. So when stocks go down significantly many folks loose a lot of their overall perceived compensation. This compensation above the salary is what makes living in the bay area workable for many families.