Tech companies are the ones to blame. There is insane numbers of untapped talent willing to work remote and to adapt to the bay area time zone if needed. They'll also work for less than 1/10th of their US based ones.
There are two possible explanations:
1- Tech companies didn't try to expand overseas; didn't care and just tried to limit salaries inland (I just remembered their fiasco).
2- Tech companies failed to expand overseas. This might be due to concentrating in a single location (India) for all outsourcing.
I think they should try to have satellite offices in most countries out-there. Instead of big ones, rather small ones that higher only the best of the best of that particular country.
They don't even need to look abroad. Plenty of the flyover country and the south eastern USA would work Cali hours and accept probably half or less the pay for a better qol than can be had in the Bay area.
Central VA has UVA and VTech, half the people I work with went to one, the other, it both. A lot of them pull maybe $100,000/year. Around my area that's a pretty comfortable pay, few acres and 3000sqft would cost maybe 150k all in.
There are two possible explanations:
1- Tech companies didn't try to expand overseas; didn't care and just tried to limit salaries inland (I just remembered their fiasco).
2- Tech companies failed to expand overseas. This might be due to concentrating in a single location (India) for all outsourcing.
I think they should try to have satellite offices in most countries out-there. Instead of big ones, rather small ones that higher only the best of the best of that particular country.