Venice and the south side of Santa Monica used to be kinda a sketchy place to live and had alot of crime though, it was on the beach.
Crime went down (as it did all over LA) and went from an undesirable place to live to a desirable one. When people express that desire by actually moving themselves and their businesses there, the people that were previously there are outraged.
I get being mad at market rates going up in your neighbourhood; it's basically a selfish desire to keep things as they were for yourself. Especially if it goes so far as to move you out of your neighbourhood but, to make it moral as if these people who naturally moving to the best place they can find for a price they can pay are somehow trying to personally inflict evil on the people that already live there is silly.
One might as well try to stop the tide from rising. We live in a capitalist society. Real estate is one of the largest markets there is, literally trillions of dollars in value. Even small changes in value can have huge effects.
There is no simple solution. Even if Snap, Inc. did move to a suburb in the valley somewhere, they would lose a significant, expensive chunk of their workforce. The young, mostly childless employees of Snap, Inc. are exactly the kind of people that love living in Venice. Everyone loves living there, how do I know? The rental prices in Venice are astronomical. People already have sacrificed alot to live there, they aren't going to move to the valley. They are going to keep their friends and their short commutes and move to a company in their neighbourhood.