I don't think what san francisco has going is sustainable. $200k to get by out there is just dumb. They say the main reason to stay put is the camaraderie and ability to bounce ideas off one another, and recruiting is easier. I say it's become a dangerous echo chamber. Just look at the problems google, twitter, and facebook have created for themselves.

We are already seeing many firms leave for Austin. More than $1 billion of taxable income has already been extracted in the past decade. A drop in the bucket in the grand scheme of things, but I think it's just the beginning.