Which CEOs are sharing non Bay Area hiring numbers?
Stripe: 79% outside of Bay Area Coinbase: 89% outside of Bay Area Brex: 74 % outside of Bay Area https://twitter.com/brian_armstrong/status/1481129589761998857?s=20 https://twitter.com/hdubugras/status/1481303892629409792?s=19 Household TC: 700k
Agreed
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These numbers are encouraging. Finally the decentralization of Bay Area tech is happening
When will decentralization of bay area housing happen?
Pretty soon, remember housing is always a lagging indicator. Jobs move first, people move second and housing and dev follows Looking at this trend and most of the mid career workers not open to RTO. One would predict that tier 2 hubs like Austin, Charlotte, Miami, Atlanta will become the next Seattle
I’m not really reading into this the way people are. These were previously non-remote companies that had already exhausted the local market for their relatively minimal hiring needs - whoever wanted to work there and could pass the interview from the Bay Area was already at the companies. But from 2020 onward, they relaxed the constraint for being in-office, and now had a wider pool to again start matching with. This was a totally new supply of workers to pick from, so it shouldn’t really be a surprise that they’re finding all their new matches from the new list. These companies likely have a better chance to compete for cheaper remote talent, and thus have a significant ulterior incentive in misrepresenting the results as some great shift in hiring.
People don't go back and buy the old $100 cake once they find a $20 cake that tastes the same and comes in a fancier box. Companies won't go back to hiring expensive Bay Area workers either. Not for non-leadership roles anyways.
It really remains to be seen whether the cake tastes the same. India exports so much technical talent, companies have instead for decades tried to massage that remotely into cost savings. It hasn’t worked. But if this experiment somehow actually works - that WFH really does produce better results and work output, and hasn’t just provided companies with cheap labor during worker shortages, then the last point you said will be very, very true. Companies will not pay Bay Area salaries ever again to anyone. I seriously doubt that because no one has done anything impressive during covid so far, but there’s also a raging pandemic to contend with, so we can let that slide. But once the pandemic is over, the clock will begin ticking on this experiment.
Do these numbers include overseas hires too? Overseas = outside usa
Yes