The stock market is acting like the Covid vaccines have already been administered. Meanwhile, in the real world, what could be a long-term consequence of the pandemic is unfolding: there are signs the San Francisco Bay Area is losing its iron grip on the tech industry.
We ran a story today on high-profile tech CEOs such as Dropbox’s Drew Houston and Splunk’s Douglas Merritt relocating to Austin, Texas. Meanwhile, the Wall Street Journal ran a complementary story about smaller tech firms scattered around the country getting more applications from employees with big-tech experience in places like San Francisco and New York.
