your analogy requires the assumption that the stadium is already "at capacity" for the maximum comfortable number of seats
99% of American municipalities are nowhere even close to this capacity.
Companies want top talent for their workforce. They naturally will set up shop where they have easiest access to this talent (hence why you get industry hubs in different locales). The companies move to the spots for workers, and the works move to those spots for the jobs.
There's an alternative world where SF and San Jose look like Singapore or Hong Kong, and policy is one of the big differences