>> I have had older friends leave to have a family. They went to Santa Cruz, Seattle, Denver, DC, and Austin. It's a shame. The ones that stayed either are very rich where a $5M house is not an issue, or they still live with three roommates and rent without kids.
Just wait until they look for interesting jobs and get 100 linked in messages from CA and like 1 or 2 from DC. (note: I live in VA just outside DC, speaking from experience.)
An anecdote: I got an offer to leave my mid-level FAANG job to return to the Midwest for a VP role at a 200+ person company. The compensation was about 35% of my total comp, and it was maybe one of 3 companies in the area I would consider working for. Not to mention going back to cold winters, McMansions, and chain restaurants.
I don't think people fully appreciate the value of unenforceable non-competes + many companies congregated in one area. No where else in the world does the labor have this level of negotiating power and flexibility. Even if it can be replicated (and I hope it is!), it won't be overnight.
Not to mention that few places can match all the benefits of SV, i.e. unenforceable non-competes, fantastic weather and surroundings, an educated and diverse population, cultural activities, very high compensation, etc. I don't think it'll be as easy to displace SV as these articles regularly imply, despite the downsides of living here.
This doesn't necessarily help the original decision, but it does stop a bunch of re-litigation of previous decisions, and this is often a cause of noise and distracting headspace. Importantly, it can remind everyone that the decision was made with a good reason at the time.
(And I have no idea what it's going to be.)