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A decent amount is expanding to the Seattle area, which isn't cheap either but a tad cheaper than the Bay Area. Seattle region is strong in cloud computing, VR and AI.
I have a bunch of tech buddies in the Bay Area contemplating or have recently made this move.
Austin is the other one. Maybe NYC in future.
It's not a bad thing to spread the wealth a bit. That said the startup and VC culture in Bay Area is still hard to beat. No other city can compare.
I would say more so it is changing. The big names and large ‘corporate’ and ‘operations’ based tech companies are getting tired of the taxes and extreme operating costs as well as high living costs AND they have options to find the same quality of workers, much cheaper in other states. By the way these companies operate, this is a very financially smart move.
Innovate & STEM tech however is still expanding and will continue to grow there because there aren’t many replacements for the talent found at Berkeley and Stanford.
More tech companies are uprooting their HQ out of the Bay Area. But nearly all tech companies have a footprint there, and the region will continue to be the hotspot for new idea and funding.
If I'm a business leader who has hit a growth milestone, and I have leveraged the "resources" of the Bay Area to expand my technology, G2M, and to get investment for PE/VC... The disadvantages, from a cost perspective, outweigh the advantages of having an HQ there.
But the Bay Area tech scene is as healthy as ever. It's not going anywhere.
Nearly all cities have a "tech" scene now. Because nearly every industry or process is now tech, or touches tech, or needs tech. But areas filled with money and investors, and the innovation / patents, are the ones that will carry the future. Cities like San Francisco, Seattle, Boston, Austin, NYC.
It's a lot more spread out now. With these large tech companies needing to hire diversity and increase their diversity numbers, many are opening up offices in Atlanta as you have one of the largest minority tech talent pools here. Georgia State/Georgia Tech/Emory/Kennesaw State with a large number of minority students and several Historical Black colleges.
There have always been several “knowledge industry” cities in the US, with a tech presence: Boston, Seattle, Austin, RTP, etc. The Bay Area has a large ecosystem (e.g., VC, managers, engineers, legal professionals, HR, marketing professionals etc) supporting the tech industry. All of the tribal knowledge and connections are embedded in the culture here. It is not going anywhere, the Bay Area will still be a hotbed of innovation and creativity. Of course, businesses will relocate out of the area for various reasons and other areas with these industries and talent will be innovative also.
The local universities:: Stanford, Cal Berkeley and Santa Clara University have contributed to the development and growth of the area from scientific research that started in these universities. They continue to supply the area with fresh graduates and ideas.
The local universities, tech talent, tribal knowledge, connections & ecosystem all drive the incubation and growth of innovative start-up tech companies.
Google, Intel, HP & Nvidia (to name a few) were all started here, many started by graduates from these schools.
Last edited by ccm123; 01-14-2022 at 02:14 PM..
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