There seems to be no evidence that startups are significantly growing anywhere outside of the already well-known tech cities. And the main reason is because most of the talent that really wants to work in cutting-edge tech takes the initiative and relocates there to be with all the other people that really want to work in tech (barring some people who are taking care of sick or aging relatives, etc.) I'm not saying another city couldn't eventually displace SV, but it would require a huge shift in network effects.
Also, the cost of living argument is mostly nonsense. For large tech companies, even with spending $6,000 a month on an apartment, you still have a lot more left over after California taxes than the best tech employers in the Midwest or Southeast. When your total comp is 3x what you would make in an "affordable" city, does it really matter that rent is 1/3 of your income?
Also, the cost of living argument is mostly nonsense. For large tech companies, even with spending $6,000 a month on an apartment, you still have a lot more left over after California taxes than the best tech employers in the Midwest or Southeast. When your total comp is 3x what you would make in an "affordable" city, does it really matter that rent is 1/3 of your income?