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BY NICK BILTON
As Brooklyn and San Francisco empty out, Los Angeles, Palm Springs, and Miami are booming thanks in part to tech workers’ hunger for space and amenities. And the shift might be permanent. “All the start-ups here are realizing that they don’t need to be in the same place all the time,” says one tech executive.
The theory among people (…) in Silicon Valley is that tech workers trapped in their houses will start to develop new, better technologies to facilitate the process. Google Maps and Gmail, for example, were built as side projects at Google because the engineers saw a need for these tools. Now that tech employees are working remotely, they are finding new problems in the work-from-home lifestyle and creating new solutions to allow them to be more productive. Which means that these products could eventually make their way into our hands, and could justify us never going back to the office. In which case, the diaspora that has taken place from cities like San Francisco and New York to Los Angeles, Austin, and Miami will only continue. Many tech employees and executives I’ve spoken with have said they’ve left San Francisco and Palo Alto for homes in Sonoma and more remote locales. While some of the highest-paid tech moguls have owned homes in L.A. since before the pandemic, several are now there permanently, or at least until there is a cure for the virus.
Read the entire article: https://www.vanityfair.com/news/2020/10/the-pandemic-housing-market-explosion-could-upend-silicon-valley
