[pmorici]

It's in the TC article linked in the parent comment to mine. They are talking about reducing costs by reducing living expenses via VC provided company housing for employees to the point were 80k seems like a viable salary.

"You need to tell that engineer from the University of Michigan that he can live here on a salary of $80,000."

I'm from the Midwest as well, you're probably right it is a mistake a new grad would make I certainly remember being surprised that my starting salary, though above average for students from my university according to the published stats didn't go quite as far as I imagined it would in a more expensive metro area than I was used to.