someone invent a murphy bed that converts to a desk that converts to a toilet so our workforce can live in a space smaller than solitary confinement.
You could be local but within "commuting distance" of the office, which could include Sacramento, Tracy, etc. for an SF office. I think you could get a 2BR in Sac for the price of a studio in SF.
We might also see some exodus from the Bay Area, which would put a downward pressure on tech salaries till they hit some equilibrium.
I also wonder what enforcement mechanisms exist short of an IRS audit to make sure you're actually "local" and not in a cheap cabin in North Dakota. Employers could monitor corp traffic, but I wonder if it's actually worth the cost to enforce and they'll just go by honor code.
I was watching an interview recently, might have been buried in the middle of The Social Dilemma, where the speaker mentioned that this class of concierge service risks infantilizing people, and in particular in a time when code that young programmers author effects more and more of the population, that's dangerous.
The implication was that we need people to grow up. If they're going to be responsible (in the specific case), then they should be/get prepared to take responsibility (in the general case).
And "full pay" is relative to the cost of employment for each area. For instance the adjusted amount you would receive in say Kansas still is quite a lot for the area.
I think this is strictly worse than providing employees with the option of where to work (office/remote/some WFH). Something missing in this announcement is that you still need to live in one of the main cities with offices (SF, Seattle, Austin, Dublin) in order to receive full pay. Moving anywhere gets your pay adjusted to the "local market".
So to avoid a pay-cut you need to stay in an overpriced city, but you don't have a nice office with meals/snacks/nice desk setup that you can go to.