Fleeing Silicon Valley – Part 1
Thousands of people are fleeing Silicon Valley; and, it not just migrant workers but also skilled workers. They all say the same thing – that opportunities exist in more places today and the opportunity costs are much lower. The economics of Silicon Valley are not working as they used to.
In fact, it’s hard to get a moving truck in Silicon Valley and it costs about $3800 to rent a U-Haul truck from San Jose to the Mid West, but only $1500 to move the other way. This is because far more people are moving out of the Bay Area than are moving in. The exodus has been going on since 2005 but has accelerated due to the down turn, residential rents are falling and top tier office rent is down 25% in a year. Many in Silicon Valley aren’t even aware of the exodus, they are working even harder just to keep up, in a ecosystem where the opportunities are shrinking and resources are getting expensive.
Recently, a friend on mine quit his $200,000 VP job at a public company in Silicon Valley to move to North Carolina to work for 25% less. He said in North Carolina, things cost much less and you can buy the best house in the best neighborhood for $500,000. Something that is not attainable in Silicon Valley.
Wowsers. I totally missed this piece written in April!
How dare WebGuild publish such blasphemy. At Google, I think they would call this “not googly”. Here at Burbed, I think it’s definitely “not burbedly”!
The Bay Area is the only place in the world with good weather, smart people, great sushi, tech companies, venture capitalists, and the Bay Area. I 100% guarantee you won’t find any other place with those qualities!
Frankly, I’m not sure how WebGuild can claim that people are fleeing. The only people I personally know who are leaving are losers like doctors who have no reason being here anyway. They’ll never become rich like all the tech people! What do they have to offer? Besides, I’m sure Ruby on Rails can eventually replace their services in some form or another.
Let’s face it, this piece was nothing but link bait for web guild. There is nothing bad going on in Silicon Valley. There never has been. Now let’s resume our focus on beating New York Manhattan in being expensive and exclusive, and watch out to make sure Seattle doesn’t creep up on us!