The Great Tech Migration

In “How the Pandemic Broke Silicon Valley’s Stranglehold on Tech Jobs,” WSJ reporter Christopher Mims describes how new research is showing most tech talent continues to migrate out of the traditional ‘superstar cities’ — driven by the rise of remote work and maturing technologies and accelerated by the pandemic.

Why it matters: The rise of ‘superstar’ cities drew the best and brightest to a limited number of places like Silicon Valley and NYC for decades. Now companies and investors are reversing that trend. And more quickly than we realize.

The numbers say: nearly 5 million Americans have moved since 2020. And 18.9 million more are planning to do so according to Upwork.

What researchers are saying: Mims cites Brookings Institution research stating the rise of work-from-anywhere is behind the migration of companies, investors, and talent. The brain-drain is impacting places like San Francisco, NYC, and Seattle; the new kids on the block are:

• Atlanta
• Dallas
• Denver
• Kansas City
• Miami
• St. Louis

The bottom line: Numbers of remote and hybrid workers rose during the pandemic. The cloud and outsourced manufacturing make it possible to base your startup anywhere. Remote or hybrid isn’t going away. And companies will be faced with a new set of challenges as they attract and retain talent and build culture in the future.