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The future is almost certainly going to be remote, there are far too many economic, environmental and social benefits to being remote. The days of cities being
by adam_arthur 4y ago
The future is almost certainly going to be remote, there are far too many economic, environmental and social benefits to being remote. The days of cities being a forced hub for hundreds of thousands of career seekers is over.
OpenAI itself has only ~300 employees. This is not going to be like the FAANG era at all, much more competition, much higher automation, fewer people required. And the real estate ship has already sailed in the Bay Area... that's a problem they should have been aggressively addressing 10 years ago, but they didn't.
Don't think the VC types understand how much cost of living is an enormous turnoff to the average worker. The majority of tech employees, including myself, lived there for the career opportunities. Now it's no longer required. Why would I ever give up 60% of my take-home pay to state taxes to also pay a much higher CoL?
I do expect RE costs to decline considerably there in real terms though, so perhaps in 5-10 years SF will have another shot
- fragmede 4y agoCalifornia income tax tops out at 12.3% which is, um, nowhere near 60. That's higher than, say, Nevada, which has no income tax, but they make up their revenue in other ways, so unless you take a look at the bigger picture you'll be making decisions based on incomplete data.
- jamiek88 4y ago>60% of my take-home pay to state taxes What? Don’t be absurd.
- adam_arthur 4y agoTypo, should be 50%. Federal, state, local (SF City tax) puts you over 50% at the top bracket. The point is you can cut taxes significantly while also reducing CoL… the economic benefit is far too high to justify people crowding back into SF again