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Facebook, Twitter and VC firms consider life outside Silicon Valley as they shift to remote work

The coronavirus is reshaping the workings of Silicon Valley, the epicenter of U.S. tech culture and innovation for 70 years.
Tech titans and VCs in the region have embraced remote work and Facebook, Twitter and Square are mapping out their strategies for a distributed workforce.
The hope is this will open up a wider talent pipeline throughout the U.S. and the world.

If the business world has learned one thing from the pandemic, it’s that their employees can work, and innovate, remotely. Employers once limited to local talent and offices are now free to hire anyone, to work from anywhere. In Silicon Valley, this newly distributed workforce has disrupted the region’s long-standing business model which has, since its inception, relied on employee proximity.

Workers no longer need to live in the Bay area, so they aren’t; San Francisco studio, one-bedroom, and two-bedroom rentals saw the biggest year-over-year decline in the country in September, falling by 31%, 24.2%, and 21.3%, respectively. Tech giants no longer need their massive employee campuses, so they’re considering other options; Dropbox is ditching its offices for “studios” to facilitate in-person collaboration among pockets of now-remote employees across the country. Big tech’s recruitment teams, once focused on the self-selecting pool of talent in a narrow, and local, echelon of educated society, can now tap talent from anywhere, potentially diversifying their workforces in the process. Even venture capital deals, the literal seeds of these tech giants, have moved from dinners and drinks in the Valley to Skypes and Zooms online.

Tech’s long-standing tradition of staying, growing, and circulating talent within Silicon Valley has enabled the region to become and remain the epicenter of U.S. tech culture and innovation. In its 70 years, the area has produced the behemoths that put the United States on the map, technologically: Apple, Facebook, Alphabet, Twitter, Oracle, Hewlett-Packard and Intel. And with them, Santa Clara county has grown into a hub of wealth, generating over $316 billion in GDP in 2018. Silicon Valley currently provides 1.7 million jobs, and until now, those jobs were concentrated in the San Francisco Bay area. Read more via CNBC

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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