Readit NewsOh wait, that’s not true at all.
These are just empty lies and niceties that don’t stand up to scrutiny. Reddit has weaponized information and is just another tool of propaganda.
Your salary is capped by what you produce for your employer but your salary is determined by how hard it is to replace you. In the Bay with more companies than you could count, they had to fight tooth and nail for these incredibly productive workers, pushing wages higher and higher - capturing the value the workers create. Add in ZIRP and all the startups that creates and you’re looking at a cage fight between employers over workers.
With remote work and the end of ZIRP, suddenly the bay has less startups and the Googles of the world can more seamless employ workers in Cleveland or Bangalore. What does a Bay Area worker gain from this, access to tech jobs in Cleveland?
Companies don't seem to hire this efficiently in practice, and a large number of these big tech workers seem to receive far more value than they create. I've personally seen no change in usability of social media platforms despite a ton of layoffs. I think we will see more efficient hiring by necessity (higher rates).