Read on Twitter
I honestly have no idea what the stable equilibrium is here https://twitter.com/larakiara/status/1321150917484388353">https://twitter.com/larakiara...
Bluntly, there& #39;s two possibilities:
. SF companies capture tons of value by hiring remote workers and paying them lower wages
or
. Workers capture tons of value by living remote and getting paid SF wages
. SF companies capture tons of value by hiring remote workers and paying them lower wages
or
. Workers capture tons of value by living remote and getting paid SF wages
Either is feasible, plus of course some combination. But here& #39;s the thing that happens in either scenario:
San Francisco disintegrates and burns.
San Francisco disintegrates and burns.
The people living in SF did things that generated unfathomable wealth. And because they lived there, a mountain of money piled up in one geographic place, driving the cost of living (esp. housing) sky-high.
Now that the people generating that wealth don& #39;t have to actually live there any more, that mountain of money is going to explode like a volcano and blow its ashes all across the country.
That& #39;s true whether gains from hiring remote workers go mostly to the companies or mostly to the remote workers. Either way, the workers will be remote. Enormous flows of money are going to be leaving the Bay Area, never to return.
There& #39;s going to be an economic shock in the Bay Area the likes of which California has never seen.
Mostly in housing prices.
Mostly in housing prices.
What will that mean? What are the actual consequences going to be?
¯\_(ツ)_/¯
But I know that shocks of that magnitude don& #39;t have happy consequences.
... at least, not for everyone.
¯\_(ツ)_/¯
But I know that shocks of that magnitude don& #39;t have happy consequences.
... at least, not for everyone.
