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People leaving Silicon Valley - fleeing from the Bay Area?
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Question:There are rumors that people are leaving Silicon Valley due to the economic downturn. Is there really such a down-turn? Will the San Francisco Bay Area lose significant population, have less traffic and possibly be more attractive?
Answer:Here are some quotes that we found on the internet. They indicate that more people are moving away from the Bay Area than people moving to it.
"The industry is in need of the next killer app. It's hard to get a moving truck in Silicon Valley. Cell phones, the web ... are old news and not making $ any more. People are fleeing this market (a lot not by their own will) & we need something to make it fun again. The economy is 1 thing, but when people don't care any more = death."
Another one regarding moving trucks in San Francisco Bay Area:
"You're right about rental moving trucks.
And one more quote:
"It recently (August 2005) cost $3623 to rent a U-Haul truck from San Jose to the Mid West, but only $1800 to move the other way. This is because far more people are moving out of the Bay Area than are moving in."
Now these people leaving the San Francisco Bay Area could be made up by immigrants coming in with planes- Chinese or Indian High-Tech workers. However, lately less of these people have come in and based on my friends' circle of Indian hitech workers, roughy 1 in 3 Indians have gone back to India because of the better possiblities there now. I have heard similar stories from my Chinese friends.
However, my observation is that the people who leave the area - e.g. to go to Arizona, Nevada or even Utah are NOT Asian immigrants. This means that the percentage of Asians in the Bay Area is more likely to increase.
The people who leave are teachers, construction workers and other folks (un)employed in less paying positions. This raises the question who will teach the remaining software engineer's children, or repair their roofs?