Bay Area Exodus?
Read this article on Redfin's CEO the other day: https://www.google.com/amp/s/www.geekwire.com/2017/redfins-glenn-kelman-predicts-mass-tech-exodus-coastal-cities/amp/ He predicts a massive tech exodus from the Valley, saying "Google employs more engineers outside of Silicon Valley than it does in Silicon Valley and if Google can’t afford Silicon Valley then no one can.” Anyone look into their crystal ball and seen the same thing? Anyone getting tired of the Bay and looking to move? If so where? Curious on these thoughts.
SV is a complete shithole. Theres literally no reason to stay here. The exodus is coming/in progress.
I’m interested in leaving the Bay Area at some point, but I have to admit there are reasons to stay. The food. The weather. Access to shows and entertainment. For startups there’s a lot of funding and a lot of good talent coming out of Berkeley and Stanford. I don’t think it’s a shithole necessarily. I think the Midwest gets excited and hopes companies will move their way, but if you look at populations around the world, most people congregate near coastlines. Anything can change, of course. When I think about the reasons I’d want to leave the Bay Area, it’s more that I would want to get away from tech and a lot of the people involved in tech.
This happened in Manhattan too. Exodus led to people moving to Brooklyn and other burbs, and some moved to other states. It’s a natural evolution as places change their culture and character. New people take the spot of people moving out, unless the place is in crisis, think Detroit or lately Chicago, both places lost/are losing residents at incredible rates
What’s the crisis in Chicago?
Crime is exploding. Schools are being shut down. Minorities and low income migrating to other parts of Illinois or out of state. City Is broke. Pension liabilities are unsustainable. Taxes are set to rise significantly. I can go on?
How convenient that he says everyone will move to redfin HQ city of seattle. That kind of gives away his game. Although there is a bit of truth to his argument, it's wildly exaggerted
it's gentrifying. poor people are leaving.
He has been predicting this for many years. And house prices keep going up. May be he should just keep his mouth shut
No u-hauls can be found right now.
Sensational bs
The cup is definitely running over but it’s not because it’s getting any smaller.
If Google T5 can't afford, T6 can!
Mass exodus? No? That makes no sense. If prices are too high, they'll either adjust to appropriate levels or further expansion will be elsewhere, which is exactly what's happening. Mass exodus would only happen if something drastically changed (earthquake, war, industry bankruptcy...)