It's like that now, but when my SF startup failed in 2001 and I had to look for a job at the end of the bubble, it was extremely stressful --- and I'm guessing I had an easier time looking for jobs than most of my last-bubble cohort.
Continuing the same point: it is in fact not all that stressful finding tech jobs in any major metro area now. I'm in Chicago, we have offices in NYC (our HQ) and Mountain View, and it's hard to hire in all three places.
I'm sure there's a grain of truth in what you're saying, that SF can accumulate talent because talent moves there expecting the red-hot market in the area to mitigate risks. But things can turn quickly.
Continuing the same point: it is in fact not all that stressful finding tech jobs in any major metro area now. I'm in Chicago, we have offices in NYC (our HQ) and Mountain View, and it's hard to hire in all three places.
I'm sure there's a grain of truth in what you're saying, that SF can accumulate talent because talent moves there expecting the red-hot market in the area to mitigate risks. But things can turn quickly.