[smenyp]

But "this will increase salaries by reducing supply" is the common narrative on HN that one cannot fight.

Reasoning bottoms-up, you are right. This will reduce Bay Area footprint, and will allow good talent to join at lower costs. Couple this with top Indian talent in US not being treated fairly (most Indian immigrants have to wait 4-5 decades before being eligible for a green card even at Google / FB / etc..). The future for the Bay Area may not be as bright as the last 15 years. I certainly hope this isn't the case since I have a vested interest in the Bay Area but I do think longer term this is going to be the outcome though.. :(

Reasoning ground-up is not the faint of hear though. Most people want to extrapolate the world from the recent past based on their personal self-serving biases.

[sizzle]

Thank, I'm also invested in this area. I am trying to arm myself with knowledge to possibly correct course and be as realistic as possible in the next 5 - 10+ years out.