Tech Leaders Fled San Francisco During the Pandemic. Now, They're Coming Back (wsj.com)

The average person doesn't have the freedom to ditch one location and get established in another. Relocation costs are significant and so are personal connections. Coupled with that relocating to a different city comes with the risk of not being able to get a comparable paying job.

My interpretation is that the talent is a lot less mobile than the entrepreneurs who want to profit off them.

Basically this is just a limited number of anecdotes about a few tech leaders returning--it could very well be that lots of others are leaving.

No matter how much VC’s want to live there, Miami lacks the infrastructure and “raw materials” needed for any startup that isn’t a crypto scam. This would be like Carnegie deciding to move US steel to Hawaii because he liked the weather, or Saudi Aramco moving to Jamaica.