[proverbialbunny]

That's not always true. Some companies want and have an intentional international presence, for example.

Many companies head quartered outside of the bay area create and hold parts of their company in the bay area. Not just companies from other states, but companies from other countries too. They do this, because they know how hard it is to get smart and talented employees doing difficult and cutting edge tech work outside of the Bay Area.

Now if you're an accountant or are in sales, ... yah you're going to TX or finding a new job.

[scurvy]

Sell side sales will probably stay in SF for west coast clients. I doubt Schwab has much in the way of Asia customers, but I bet there's a lot of west coast whales.