'Why wouldn’t one of Facebook’s competitors, having similarly discovered that remote work is just fine, hire away the low-paid Facebook workers in the low-cost markets?'
The Facebook “like” sign is seen at Facebook’s corporate headquarters campus in Menlo Park, California. Photo: Josh Edelson/AFP via Getty Images Facebook founder Mark Zuckerberg says he believes that, within ten years, about half of Facebook’s workforce will be working from home permanently.
“Like the second we all started working from home, everyone started speculating about whether working from home would be the next big thing,” says Betsey Stevenson, a labor economist and professor of public policy at the University of Michigan. “But we also remember Marissa Mayer calling everyone back to Yahoo and saying, ‘This working from home thing isn’t working out.’”
If that thinking gets turned on its head — if Facebook and its peers decide they actually don’t care nearly as much about workers being in an office or in the Bay Area as they thought — then the substantial wage premium that exists for workers in Silicon Valley will be harder to justify. The Valley will remain a repository of talent, and to the extent workers there are more skilled than workers elsewhere, they’ll be paid more.
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