Based on my experience in a 2nd tier SV company I believe this to be true
Don't take everything Elon tweets at face value
> There seem to be 10 people "managing" for every one person coding
Take this literally, not as as a ration. - each SWE in a product team has an EM, Dir Eng, VP Eng, PM, Director Product, VP Product, ...
They do not own datacenters, AFAIK.
What I'm saying is that is difficult to live "bellow my means" when it comes to, well, living, which means having a roof on top of my head. I don't want anything fancy, just a safe enough area, decent amount of space and decent amount of transportation options. I'm of course willing to pay for all that, the problem is that there are people who are willing to pay even more, which leaves me with two options: either compete against those other people, which, like I said, makes the "live bellow my means" moot, or, the second option, to compromise on my housing/living arrangements (choosing to live in a less safe area, giving up on access to public transportation, choosing a studio apartment instead of a one-bedroom thing), which is less than ideal (because housing is a basic thing in one's life).
> The majority of people who earn more spend more.
You don't need a Prolog engine to compute the conclusion...