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Comment by orpheansodality | Hacker News Reader

For twitter, here are the actual number for the bay area, according to state filings[0]

* SF: 784

* San Jose: 106

Still high numbers IMO but SF for example has ~800k residents, so this only represents ~0.1% of the total population. Not super convinced yet that it's going to have any immediate impact on housing in the city unless this triggers a much larger avalanche of firings that don't have an associated swarm of smaller companies waiting in the wings to pick good employees up at a discount.

[0] https://www.sfchronicle.com/bayarea/article/Here-s-how-many-...

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Housing is a very "tipping point" thing - if there are 100 houses for sale and 101 buyers, prices will rise until one buyer drops out. If there are 100 houses and 99 buyers, prices will drop until another buyer appears or a seller takes a house off the market.

It's not exact, but small changes can have large effects.

However SF likely has a huge waiting list of people who would like to move in, so it's not likely to take effect immediately.

>However SF likely has a huge waiting list of people who would like to move in, so it's not likely to take effect immediately.

Unlikely -- take a look at the average rent trends. It hasn't recovered to even pre-pandemic levels. https://www.zumper.com/rent-research/san-francisco-ca

> Not super convinced yet that it's going to have any immediate impact on housing in the city

It's not "Twitter layoffs cause issues" - it's more that if you can identify 5, 10, 15+ well known companies doing layoffs concentrated in that area there is probably also a very long tail of smaller companies doing layoffs also. Cumulative effect of it all can be quite large.

> ~40% of the workforce

This is an enormous exaggeration. However, even a 4-5% reduction in jobs in the area can have an enormous effect on the economy and housing market.

I think the 40% number was about the ratio of people let go that reside in SF.

How does ~1000 represent 0.001% of 800k?

whoops decimals mixup, will edit:

784 / 815,201 = 0.00096 = 0.1%

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