But leaving for another west coast city is not going to improve things much, housing and cost of living in Los Angeles, Seattle, Portland, etc are also very high when compared to costs elsewhere in the USA.
The midwest and south should be aggressively courting entrepreneurs based on cost of living alone.
My place began with a few people out of the local university and an angel investor. There was organic growth and an actual profit. The exit was a company of about 40 people being sold ($36.4 million in 2019 dollars) to a large defense contractor. That's in Melbourne, Florida.
There are several start-ups in the area created by former employees, generally beginning on personal funds.
This also works in Longmont, Colorado. I have a relative who did a couple businesses starting from personal funds. One sold for millions of dollars, and the other is ongoing with decent success.
But still nothing at a level to suggest the tide turning away from the big coastal cities.