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manningthegoose | 5 years ago

This is great, glad to see reddit leading on this front. I do wonder what effect this would have on metro areas with high COL if more companies adopted this policy. Mass exodus? Probably not. But I imagine the effect will at least be measurable.

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paxys|5 years ago

I'm more interested in the effect on metro areas with a lower COL. Imagine an influx of young professionals with Bay Area salaries in cities like Denver, Austin, Huntsville, Madison, San Diego, Nashville, Charlotte, Salt Lake City. I can't imagine current residents would be too happy.

silentsea90|5 years ago

The only case where residents would be unhappy is when said residents flood the market causing meaningful inflation across local markets. It takes the entirety of the bay area young professionals to keep the bay area as expensive as it is. 1. Would the dispersion of the same talent (assuming talent isn't suddenly growing in size) + local tech talent being paid higher cause the same inflation even when split over a large number of cities? 2. If said inflation happens, would they not move again? I believe incentives here are to distribute this talent across the US, not concentrate in new cheaper centers

BurningFrog|5 years ago

My impression is that "this city has too many high paying jobs" is a very isolated complaint in a few outlier big city areas.

Outside of those, almost every community is eager to bring in high paying jobs.

sologoub|5 years ago

You’d need critical mass for that. San Diego (I wouldn’t put it into LCOL either) is close enough to LA that many “creatives” with high Hollywood comp already could (and do) move there and commute. There’s also a decent tech scene.

It has increased some costs, but nothing like Bay Area peninsula for example. You just don’t get the critical mass and no building like that in SD or any other place I’ve seen, save for Manhattan.

manningthegoose|5 years ago

Definitely agree. Although maybe the increased dilution of tech workers (roughly same # spread across larger set of cities) will help mitigate this.

pugworthy|5 years ago

Think even smaller for where people might go. There are a lot of small towns (50-100k pop) with great quality of living where some remote workers will thrive. I’m talking places not part of larger metropolitan areas.

triceratops|5 years ago

In the short-term. In the long-term wouldn't everyone's wages rise?