There's another solution to this problem: remote work.
It's 2015, and with the plethora of Internet technologies that facilitate online collaboration I'm still dismayed to see so many tech companies behaving like it's 1985. The insistence and focus on physical location baffles me. Some companies seem to get it and have embraced an online/distributed workforce but many seem opposed to that model. I'd really like to hear others thoughts on why geography is still such a huge factor in knowledge-based industries.