Loss making unicorns go public -> investor pressure builds to reach profitability -> none of them can deliver on promises in the short term -> public does not want to own these stocks anymore -> causes a frantic selling spree -> market crashes.
Well hold on, I was just idly speculating, but I don't like this kind of thinking. There's a hundred and one reasons people can't leave a city, or the obstacle to leaving is too great.
Off the top of my head, not wanting to uproot kids into a new school system, partner's job, disability that makes it extraordinarily difficult to move (away from whatever ADA stuff you've got set up at your apartment and commute flow you've got set up), need to stay near sick family, need to stay regional to a very specific doctor or healthcare facility, and that's just needs. A strong desire to stay in a local area due to history or just preference should be valid as well.
I see this reasoning used to attack non-tech workers all the time and it bothers me.
A lot of funds pile into the techs. They lose money. Their customers pull their money. They have to sell not just the techs, but the rest of their portfolios too.
But yes, the tale is different for AirBnB, Lyft, and Uber.
https://www.marketwatch.com/story/airbnb-made-its-first-prof...
https://www.bloomberg.com/news/articles/2019-01-15/airbnb-sa...