I'm curious to see how many people leave because of this move. Tech workers in SF tend to live in Soma or the surrounding neighborhoods (FiDi, Mission, Dogpatch), which means for a worker without a car, their commute was previously a short bike, Muni, or Uber Pool, whereas to get to SSF they'll be looking at this (to get to a BART station), a BART ride, and probably a shuttle at the far end, because Oyster Point isn't near transit.
I worked for a company that moved its HQ (due to an acquisition) to Brisbane -- slightly closer than South SF -- and ended up buying a car to commute, because the walk + BART + shuttle combination took so long.
When I was last looking for a new role, I didn't even consider anything outside of SF.
This whole situation appears to be lifting IT salaries all over the world. I'm currently in the middle of switching jobs and found that I sneer at positions that pay less than ~$50k (in Poland at that) or don't offer fully remote work.
So, I guess, thank you?
For some cities this would equate to moving to another part of the same city.