As a homeowner in San Francisco... this is great. The cost of living has been too high here for ages, and the prices distort both our society and the economy. It'll be rough for speculators, but in the medium term everyone will come out stronger.
After the pandemic, we'll have the chance to see real businesses start here that don't rely on giant checks from VCs for viability; new restaurants will see more opportunities to take risks, as the cost to rent will collapse; and we'll end up with people moving here who want to live here, not those who despise the city but feel compelled to move here in pursuit of the almighty dollar.
I encourage companies to continue to support remote work. And, if you do hate the city, please leave, move to Boise, and let people in who will appreciate it.
After the pandemic, we'll have the chance to see real businesses start here that don't rely on giant checks from VCs for viability; new restaurants will see more opportunities to take risks, as the cost to rent will collapse; and we'll end up with people moving here who want to live here, not those who despise the city but feel compelled to move here in pursuit of the almighty dollar.
I encourage companies to continue to support remote work. And, if you do hate the city, please leave, move to Boise, and let people in who will appreciate it.